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.

11/8/18 Closing Prices:

Bitcoin: $6,473.31 (-$24.06)

Ether: $213.83 (-$2.60)

Gold: $1,224 (-$2)

DJIA: 26,191.22 (+10.92)

S&P 500: 2,806.83 (-7.06)

Nasdaq Comp: 7,530.88 (-39.87)

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

T

rading Summary Notes for Thursday, 11/8/2018

  • The big three........BITCOIN, ETH and GOLD.........all shed minor amounts in a very quiet trading day. U.S mid-term elections and Federal Reserve comments had no effect
  • BITCOIN bumped up to $6,500 but could not close above it. A move above $6,500 for BITCOIN would be very positive
  • Volatility in the crypto sector has been very muted with most moves fairly low key
  • ETH holding well above the $200 "floor" and seems to have picked up some quiet buying
  • The BITCOIN & ETH ‘stealth’ rally continues. Slowly, with no fanfare, a steady climb is beginning
  • Very positive risk/reward for buying BTC and ETH
  • After recent gains, GOLD experienced some softness today. GOLD’S upside still appears intact……….buy the dips
  • GOLD seems to be shrugging off prospects of continuing interest rate hikes. News already in the market?
  • GOLD upside target $1,350. Yes, that’s $1,350. Expect some “backing and filling”
  • 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