The Taylor Report-Bitcoin vs Gold vs Ethereum (10/8/18)

BITCOIN Adds $90, ETH Picks Up $6; GOLD Takes a Huge Dive, Down $16

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.

10/8/18 Closing Prices:

Bitcoin: $6,612.76 (+$88.37)  
Ethereum: $227.39 (+$5.82) 
Gold: $1,188 (-$16.00) 
Dow Jones Industrials: 26,486.78 (+39.73)
S&P 500: 2,884.43 (-1.14)
Nasdaq Composite: 7,735.95 (-52.50)

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, 10/8/2018

  • Slow quasi-holiday trading day in U.S. (Columbus Day) but BITCOIN moves back over $6,600; ETH adds a few dollars to over $225
  • A few more steady up days for BITCOIN and the upside momentum should pick up. Same for ETH
  • To many slow “blah” days. Time to get busier? Gearing up for a big 4th quarter end of year rally?
  • BITCOIN downside support at $6,000, upside target $8,500
  • ETH downside at $200, upside target $300
  • GOLD dumps $16.00
  • Support at $1,175-$1,180
  • Long term bullish on BITCOIN and GOLD. Short term bullish on ETH

CURRENT TRADING POSITION:  LONG BITCOIN, ETH and GOLD




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