The Taylor Report-Bitcoin vs Gold vs Ethereum (7/23/18)

BITCOIN Continues Strong Rally; ETH Doesn't, Off a Little; GOLD Sinks Back Down

bitcoin gold


WE HOPE YOU ENJOY OUR NEW FORMAT FOR THE TAYOR REPORT – BITCOIN VS GOLD VS ETHEREUM, 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.

7/23/18 Closing Prices:

Bitcoin: $7,704.18 (+$233.49) (from Friday’s close)
Ethereum: $461.04 (-$2.16) (from Friday’s close)
Gold: $1,225 (-$5) (from Friday’s close)
Dow Jones Industrials: 25,044.29 (-13.83)
S&P 500: 2,806.98 (+5.15)
Nasdaq Composite: 7,841.87 (+21.67)

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, 7/23/2018

  • BITCOIN doesn’t break last weeks stride……continues upward momentum
  • BITCOIN is the crypto market leader
  • Next stop for BITCOIN $9,500-$10,000? Momentum looks good
  • ETHEREUM falters and can’t match BITCOIN’s strength
  • GOLD sells off a little on slight rise in interest rates
  • Geopolitical events, inflation and currency risks being ignored by gold market. That won’t last and don’t be caught short
  • Risk/reward in GOLD………..risking $20 (down to $1,200) to make $200 ($14,000 target)

CURRENT TRADING POSITION:  LONG BITCOIN AND GOLD



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