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)
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