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.
7/26/18 Closing Prices:
Bitcoin: $8,197.91 (+$9.84)
Ethereum: $475.50 (+$5.66)
Gold: $1,223 (-$9)
Dow Jones Industrials: 25,527.07 (+112.97)
S&P 500: 2,837.44 (-8.63)
Nasdaq Composite: 7,852.19 (-80.05)
Trading Summary Notes for Thursday, 7/26/2018
- Very quiet trade but both BITCOIN and ETHEREUM add a few bucks
- BITCOIN upside momentum strong and intact. GO BITCOIN!
- ETHEREUM drifting around in trendless trade. ETH lags the leader…..BITCOIN
- BITCOIN near term upside target $9,500-$10,000
- GOLD sinks ahead of expected strong second quarter GDP number (over 4%)
- Thinking goes like this; strong GDP means higher rates means stronger dollar
- Inflation being totally ignored. Some are getting concerned, gold market isn’t…..yet
- Geopolitical events, currency risks and INFLATION not in the market
- 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