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)
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