The Taylor Report-Bitcoin vs Gold vs Ethereum (7/30/18)

BITCOIN Stays Strong Over the Weekend; ETHEREUM and GOLD Go Nowhere


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.

7/30/18 Closing Prices:

Bitcoin: $8,133.32 (+$278.06 fr Friday’s close) 
Ethereum: $459.48  (-$0.02 fr Friday’s close) 
Gold: $1,222 (-$1 fr Friday’s close) 
Dow Jones Industrials: 25,306.83 (-144.23)
S&P 500: 2,802.60 (-16.22)
Nasdaq Composite: 7,630.00 (-107.42)

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, 7/30/2018

  • After a sharp Friday dip, BITCOIN recovers and holds solid gains
  • “Buy the dip” mentality now in play for BITCOIN. Near term target still $9,500-$10,000
  • BITCOIN is the market leader with strong upside momentum
  • ETHEREUM lost a whooping 2 cents since Friday. ETH is “dead money” currently
  • ETH may see $500 IF and WHEN BTC hits $10,000. Stay with the leader……BITCOIN
  • GOLD hanging around $1,220-$1,225. Concerns over dollar strength and interest rates are a headwind
  • Federal Reserve meeting this week. No change in interest rate this time expected
  • 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