The Taylor Report-Bitcoin vs Gold vs Ethereum (7/26/18)

BITCOIN, ETHEREUM Tick Up In Quiet Trade; GOLD Disappoints and Sinks Ahead of GDP News


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)

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, 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