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.
8/3/18 Closing Prices:
Bitcoin: $7,465.07 (-$64.87)
Ethereum: $414.34 (+3.42)
Gold: $1,215 (+$6)
Dow Jones Industrials: 25,462.58 (+136.42)
S&P 500: 2,840.35 (+13.13)
Nasdaq Composite: 7,812.02 (+9.33)
Trading Summary Notes for Friday, 8/3/2018
- BITCOIN ends the week on a down note; Off for the week
- ETHEREUM & GOLD inch up today, but off for the week
- Geopolitical issues (trade wars, currency volatility, Mideast tensions, etc) having no effect on cryptos and gold (go figure)
- Higher interest rates weighing more heavily on GOLD.
- Should gold break $1,200 next stop could be $1,175-$1,180
- ETH weakest of the group. Next stop $350-$360?
- BTC still in uptrend BUT softens in ‘crypto sympathy
- Inflation picking up being totally ignored. When traders actually realize inflation is a real threat………well, don’t be short
- Hard to be bullish and long in weak markets. Have to look long term (old adage)
CURRENT TRADING POSITION: LONG BITCOIN AND GOLD
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews