The Taylor Report-Bitcoin vs Gold vs Ethereum (8/24/18)

BITCOIN Rallies After SEC ETF Decision; ETH Dead Money; GOLD Rockets Up on German Rumor


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.

8/24/18 Closing Prices:

Bitcoin: $6,525.51 (+$77.77) 
Ethereum: $274.68 (+$0.78)
Gold: $1,205 (+$20) 
Dow Jones Industrials: 25,790.35 (+133.37)
S&P 500: 2,874.69 (+17.71)
Nasdaq Composite: 7,945.98 (+67.52)

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, 8/24/2018

  • BOUGHT BTC AT $6,530. NO SELLING AFTER SEC TURNED DOWN ETF APPLICATIONS
  • SEC decision to not approve bitcoin ETFs did not bring in sellers. Talk is they may take “another look”
  • Positive for BTC and technically looks good. Back to $8,500?
  • ETH barely moves. Dead money for now. Interest in ETH low
  • GOLD rockets up back over $1,200
  • Rumors of Germany pulling out of US financial system causes short covering
  • Talk of inflation picking up and realization the dollar can’t go up forever helps GOLD
  • GOLD holding $1,175-$1,180 so far
  • Long term bullish on BITCOIN and GOLD. Neutral on ETH.

CURRENT TRADING POSITION:  LONG BITCOIN and GOLD



Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews