The Taylor Report-Bitcoin vs Gold vs Ethereum (8/16/18)

Rumors of Central Bank(s) Selling GOLD; BITCOIN and ETHEREUM Mixed in Slow Trade


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.

8/16/18 Closing Prices:

Bitcoin: $6,340.95  (-$24.44) 
Ethereum: $290.66 (+$5.89) 
Gold: $1,174 (-$19)
Dow Jones Industrials: 25,558.73 (+396.32)
S&P 500: 2,840.69 (+22.32)
Nasdaq Composite: 7,806.52 (+32.41)

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, 8/16/2018

  • CRYPTO PANIC NOT OVER YET! Beware the trapdoor under you
  • BITCOIN eases off a small amount, trades higher ($6,400) after London close
  • ETHEREUM ticks up a few dollars, no big buyers
  • Expect BITCOIN to break down under $6,000 in a panic. Target $4,500-$5,000
  • ETH to test $200 in a panic
  • One big word for GOLD; Dollar, Dollar DOLLAR
  • RUMORS THAT SOME CENTRAL BANKS MAY BE SELLING GOLD. Only a rumor
  • Dollar’s strength just kicking GOLD’S butt
  • 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