The Taylor Report-Bitcoin vs Gold vs Ethereum (8/28/18)

BITCOIN Jumps Over $7,000; ETH Pushes $300; GOLD Sinks Back to $1,200, Down $9.00


By Bill Taylor, Contributor/Fintek Capital

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.

8/28/18 Closing Prices:

Bitcoin: $7,060.20 (+$337.75) 
Ethereum: $289.98 (+$13.76) 
Gold: $1,201 (-$9)
Dow Jones Industrials: 26,064.02 (-14.38)
S&P 500: 2,897.52 (+0.78)
Nasdaq Composite: 8,030.04 (+12.14)

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 Tuesday, 8/28/2018

  • BITCOIN picks up momentum, jumps back over $7,000. Higher in late trading
  • More to come? Next target point $8,500
  • ETHEREUM comes to life. Rallies up toward $300.
  • ETH following BTC. Follow the leader, its that simple
  • After a strong rally up to $1,210, GOLD takes a break and gives some $$$ back
  • Test of $1,195-$1,200 is happening
  • Talk of inflation picking up and realization the dollar can’t go up forever helps GOLD
  • 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