The Taylor Report-Bitcoin vs Gold vs Ethereum (7/24/18)

BITCOIN Jumps $500, $10,000 Coming? ETHEREUM Adds $15; GOLD Unchanged....For Now


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.

7/24/18 Closing Prices:

Bitcoin: $8,197.50 (+$493.32) 
Ethereum: $476.45  (+$15.41) 
Gold: $1,225 (-$0-) 
Dow Jones Industrials: 25,241.94 (+197.65)
S&P 500: 2,820.40 (+13.14)
Nasdaq Composite: 7,840.77 (-1.11)

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 Tuesday, 7/24/2018

  • Go with the “brand Name”, BITCOIN leaps up $500
  • BITCOIN is the crypto market leader
  • Solid institutional buying a huge factor.  Bitwise announces plans for ETF
  • Next stop for BITCOIN $9,500-$10,000? Momentum looks good
  • ETHEREUM has a nice ‘pick up’ but can’t match BITCOIN’S strength
  • If bitcoin hits $10,000 ETH should hit $500. BTC better choice
  • GOLD out of favor…….FOR NOW
  • Short interest in gold getting much too large. Be careful
  • Geopolitical events, inflation and currency risks being ignored by gold market. That won’t last and don’t be caught short
  • GOLD……when there are no reasons to buy………that’s when you buy
  • 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