The Taylor Report-Bitcoin vs Gold vs Ethereum (8/10/18)

BITCOIN, ETHEREUM & GOLD...BORING Summer OR Big Flush Coming? (read below)


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.

8/10/18 Closing Prices:

Bitcoin: $6,438.17 (-$18.13)
Ethereum: $359.79 (-$3.46) 
Gold: $1,212 (-$0-) 
Dow Jones Industrials: 25,313.14 (-196.09)
S&P 500: 2,833.28 (-20.30)
Nasdaq Composite: 7,839.11 (-52.67)

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 Friday, 8/10/2018

  • Lets call it like it is………BORING! That’s Friday in the summer trading
  • BITCOIN………after a huge decline the last week or so, no bounce or big rally
  • ETHEREUM…..    ”   ”    ”        ”       ”     ”      ”     ”   ”    ”      ”       ”   ”    ”      (dittos)
  • GOLD…………..holding to the $1.205 -$1,210 area. It so wants to go up
  • BTC and ETH are NOT acting well. Way too quiet and good news/fundamentals NOT bringing in buyers
  • This may be “crypto bottom” OR a big “flush out” may be brewing. BTC $4,500-$5,000? ETC $250-#300? Coin flip right now
  • Selling climax would be a tremendous buying opportunity. Panic at the top ($20,000) and a panic at the bottom (?)
  • GOLD has a whole lot of reasons to go up (except dollar strength/higher interest rates). BUT, could trade down to $1,175-$1,180
  • Long term bullish on BITCOIN and GOLD. Neutral on ETH. Hard to be bullish and long in weak markets
  • Lots of thoughts on a BORING summer day

CURRENT TRADING POSITION:  LONG GOLD



Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews