The Taylor Report-Bitcoin vs Gold vs Ethereum (8/17/18)

BITCOIN (+$125) ETHEREUM (+$4) and GOLD (+$9) All Have a Good Friday


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.

8/17/18 Closing Prices:

Bitcoin: $6,468.48 (+$127.53) 
Ethereum: $295.12 (+$4.46) 
Gold: $1,183 (+$9)
Dow Jones Industrials: 25,669.32 (+110.59)
S&P 500: 2,850.13 (+9.44)
Nasdaq Composite: 7,816.33 (+9.81)

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, 8/17/2018

  • Next week brings a SEC decision on a couple BITCOIN ETFs. That’s probably why the firmness
  • ETH tags along. Trades just over $300 in late trade
  • A positive SEC decision should give BITCOIN a big “pop” to the upside. A no vote……big selloff
  • CRYPTO PANIC NOT OVER YET!  BITCOIN could break down under $6,000 in a panic. Target $4,500-$5,000
  • GOLD holding $1,175-$1,180 so far
  • The dollar is holding GOLD as a hostage. Dollar’s strength just kicking GOLD’S butt
  • Inflation being totally overlooked…..for now.
  • 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