The Taylor Report-Bitcoin vs Gold vs Ethereum (11/8/18)

BITCOIN, ETH and GOLD All Drift Lower in Listless Trade

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

Trading 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