The Taylor Report-Bitcoin vs Gold vs Ethereum (10/18/18)

BITCOIN, ETH and GOLD All Go Nowhere; Small Changes With Lack of Interest

Bill Taylor


By Bill Taylor, Contributor/Fintek Capital

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.

10/18/18 Closing Prices:

Bitcoin: $6,437.13 (+$7.97)
Ethereum: $202.02 (-$1.61) 
Gold: $1,225 (+$2.00) 
Dow Jones Industrials: 25,379.45 (-327.23) 
S&P 500: 2,768.78 (-40.43) 
Nasdaq Composite: 7,485.14 (-157.56) 

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 Thursday, 10/18/2018

  • Nothing going on in the crypto and gold sector. All just wandering around
  • All eyes (and interest) are on global equities
  • Big news that Goldman Sachs and Galaxy Digital invested in BitGo to create a $1Trillion secure (no, super secure) wallet had no market effect………..for now. The institutions are coming
  • BITCOIN added $8 but off a lttle in late trade. ETH off $1, but firm in late trade. GOLD adds $2 and holding recent gains
  • GOLD upside target $1,350. Expect some “backing and filling” but buy the dips
  • BITCOIN downside support at $6,000, upside target $8,500
  • ETH downside at $185-$190, upside target $300
  • Long term bullish on BITCOIN and GOLD. Short neutral bullish on ETH

CURRENT TRADING POSITION:  LONG BITCOIN, ETH and GOLD




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