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.
8/23/18 Closing Prices:
Bitcoin: $6,447.74 (-$205.42)
Ethereum: $273.90 (-$10.22)
Gold: $1,185 (-$11)
Dow Jones Industrials: 25,656.98 (-76.62)
S&P 500: 2,856.98 (-4.84)
Nasdaq Composite: 7,878.46 (-10.64)
Trading Summary Notes for Thursday, 8/23/2018
- The US SEC rejects applications for BITCOIN ETF (see FintekNews article)
- Decision dampens buyers enthusiasm. Further downside possible
- CRYPTO PANIC MAY NOT BE OVER YET! BITCOIN could break down under $6,000 in a panic. Target $4,500-$5,000. ETH $200.
- GOLD sells off sharply after testing $1,200
- Dollar rallies on fears of more interest rate hikes causing GOLD selloff
- Rumors again of some central banks selling GOLD are back. Selling GOLD to raise dollars to support local fiat currency?
- GOLD holding $1,175-$1,180 so far
- 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