WE HOPE YOU ENJOY OUR NEW FORMAT FOR BITCOIN VS GOLD, INCLUDING A LINK TO THE NEW CME ETHEREUM INDEXES!
By Bill Taylor, Contributor
We compare the price of Bitcoin, Ethereum, & Gold, using the CME Bitcoin Indexes (BRR & BRTI) and the CME Ethereum Indexes (ETH_RR_USD) & (ETH_RTI_USD) for reference.
7/10/18 Closing Prices:
Bitcoin: $6,366.37 (-$351.17)
Ethereum: $437.62 ($42.98)
Gold: $1,256 (-$3)
Dow Jones Industrials: 24,919.66 (+$143.07)
S&P 500: 2,793.84 (+9.67)
Nasdaq Composite: 7,759.20 (+3.00)
Trading Summary Notes for Tuesday, 7/10/2018
- Choppy trade. Up, down, up, down….rinse and repeat
- Treading water and hoping there are no sharks……..Going back to yesterday…..
- BOUGHT BITCOIN AT $6,520
- BOUGHT GOLD AT $1,252
- Risk/reward here to good to pass up. BTC……risking $2,000 (down to $4,500) to make $13,000 (back to $19K)
- Risk/reward in gold………..risking $50 (down to $1,200) to make $150 ($14,000 target)
- Strong selling climax down to BTC $4,000 didn’t happen; Gold firm up under $1,250. Upside fundamentals too good and risk/reward too positive.
- Long term bullish on BTC, ETH and GOLD
CURRENT TRADING POSITION: LONG BITCOIN AND GOLD
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews