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)
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