The Taylor Report-Bitcoin vs Gold vs Ethereum (8/31/18)

BITCOIN Adds a Few Dollars, ETH and GOLD Are Flat; End of Summer Malaise


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.

8/31/18 Closing Prices:

Bitcoin: $6,925.56  (+$63.49) 
Ethereum: $277.23 (-$0.89) 
Gold: $1,200 (-$1)
Dow Jones Industrials: 25,964.82 (-22.10)
S&P 500: 2,901.52 (+0.39)
Nasdaq Composite: 8,109.54 (+21.17)

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, 8/31/2018

  • End of Summer, three day weekend and no interest in markets
  • End of summer (August) always brings extremely quiet trading. That’s what happened today
  • BITCOIN perks up and adds $65.00. Trading higher in late trade and back over $7,000
  • ETH and GOLD give up “pennies”
  • Should GOLD break $1,195 a retest of $1,175-$1,180 is next
  • Upside targets;   BTC $8,500;  ETH $330-$340 (based on BTC strength);  GOLD $1,245-$1,250
  • Downside targets;  BTC $6,000;  ETH $225;  GOLD $1,175-$1,180
  • 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