The Taylor Report-Bitcoin vs Gold vs Ethereum (8/15/18)

BITCOIN Bounces, UP $300; ETHEREUM Bounces, Up $25; GOLD No Bounce, Down $20


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.

8/15/18 Closing Prices:

Bitcoin: $6,365.39 (+$285.49) 
Ethereum: $284.77 (+$26.69) 
Gold: $1,175 (-$19) 
Dow Jones Industrials: 25,162.41 (-137.51)
S&P 500: 2,818.37 (-21.59)
Nasdaq Composite: 7,774.12 (-96.78)

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, 8/15/2018

  • BITCOIN holds $6,000 and bounces up to almost $6,400
  • ETHEREUM rallies up to just short of $300
  • Short covering and some bargain hunting help both BTC and ETH
  • CRYPTO PANIC OVER?? NOT YET!
  • Expect BITCOIN to break down under $6,000 in a panic. Target $4,500-$5,000
  • ETH to test $200 in a panic
  • Crypto capitulation coming. Selling climax would be a tremendous buying opportunity. Panic at the top ($20,000) and a panic at the bottom
  • One big word for GOLD; Dollar, Dollar DOLLAR
  • Dollar’s strength just kicking GOLD’S butt
  • When the turn comes (and it will) GOLD will explode UP.
  • Inflation still underestimated
  • Long term bullish on BITCOIN and GOLD. Neutral on ETH.

CURRENT TRADING POSITION:  LONG GOLD



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