Super Dull Friday Pre-Weekend Trade; BTC & ETH Up, GOLD Down (7/13/18)

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.

7/13/18 Closing Prices:

Bitcoin: $6,248.51 (+$66.09) 
Ethereum: $437.22 (+$7.23) 
Gold: $1,241 (-$6) 
Dow Jones Industrials: 25,019.41 (+94.52)
S&P 500: 2,801.31 (+3.02)
Nasdaq Composite: 7,825.98 (+2.06)

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 Friday, 7/13/2018

  • Its FRIDAY the 13th………….dull trade and little movement
  • Trade “wars” in neutral, geopolitical events on hold, INFLATION heating up and WORLD CUP FINAL………….not much to repor
  • GOLD searching for a bottom. Its around here somewhere. Inflation will trump other “fears”
  • Risk/reward in gold………..risking $50 (down to $1,200) to make $150 ($14,000 target)
  • BITCOIN and ETH can’t hold any rallies. Very choppy trade and basically wandering around
  • Only traders pushing prices around. No new wave of buyer coming in. Just like gold, searching for a bottom
  • Risk/reward here to good to pass up. BTC……risking $2,000 (down to $4,000) to make $13,000 (back to $19K)
  • 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