Start of Third Quarter Lifts BTC & ETH; GOLD Dives on Strong Dollar (7/2/18)

bitcoin gold


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.

7/2/18 Closing Prices:

Bitcoin: $6,608.76 (+$722.88) (from Friday’s close)
Ethereum: $472.71 (-$61.49) (from Friday’s close)
Gold: $1,241 (-$11) (from Friday’s close)
Dow Jones Industrials: 24,307.18 (+$35.77)
S&P 500: 2,726.71 (+8.34)
Nasdaq Composite: 7,567.69 (+57.38)

CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index
CME ETH_RR_USD Ethereum Reference Rate & CME ETH_RTI_USD Ethereum Real Time Index

Trading Summary Notes for Monday, 7/2/2018

  • BITCOIN, ETHEREUM (Cryptos) begin start of third quarter with a big rally
  • Saturday (last day of the second quarter) saw buyers come in to mark up long positions (window dressing)
  • Threat of selling climax put on hold for now. Bitcoin $5,800 & ETH $400 held support
  • Not certain the selling is all over
  • GOLD breaks below $1,250 convincingly
  • Strong dollar pressuring gold
  • Gold looks like $1,205-$1,210 will be next stop
  • Inflation being ignored…..for now
  • Long term bullish on BTC, ETH and GOLD. Fundamental story intact

CURRENT TRADING POSITION:  NO CURRENT TRADING POSITIONS




Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews