The Taylor Report-Bitcoin vs Gold vs Ethereum (7/25/18)

BITCOIN Takes a Pause, Off a Wee Bit; ETH Eases Too; GOLD Strong and Moving Up


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.

7/25/18 Closing Prices:

Bitcoin: $8,188.07 (-$9.43) 
Ethereum: $469.84 (-$6.61) 
Gold: $1,232 (+$7) 
Dow Jones Industrials: 25,414.10 (+172.16)
S&P 500: 2,846.07 (+25.67)
Nasdaq Composite: 7,932.24 (+91.47)

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 Wednesday, 7/25/2018

  • Crypto leader BITCOIN takes a pause after big ‘run-up’. Only off slightly
  • BITCOIN upside momentum strong and intact
  • Near term upside target $9,500-$10,000
  • ETHER eases also. ETH not as strong as bitcoin, but firm
  • Near term target for ETH is $500 IF BTC rallies to $9,500-$10,000
  • GOLD coming back into favor. Too many shorts and too much negativity on gold
  • 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