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

Crypto Panic? BITCOIN $4,000? ETHEREUM $250? GOLD Steady


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.

8/8/18 Closing Prices:

Bitcoin: $6,460.51 (-$612.16)
Ethereum: $361.10 (-$46.75) 
Gold: $1,214 (+$3) 
Dow Jones Industrials: 25,583.75 (-45.16)
S&P 500: 2,857.70 (-0.75)
Nasdaq Composite: 7,888.33 (+4.66)

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 Wednesday, 8/8/2018

  • SOLD BITCOIN TRADING POSITION AT $6,490 ON A STOP ORDER
  • Is this the beginning of a crypto selling panic? Capitulation in BITCOIN and ETH?
  • BITCOIN heading to $4,000? ETH to $200-$250? Watch out below
  • Selling climax would be a tremendous buying opportunity. Panic at the top ($20,000) and a panic at the bottom (?).
  • GOLD picks up flight to quality buying
  • GOLD holding to the $1.205 -$1,210 area. Out of cryptos and into GOLD?
  • Long term bullish on BITCOIN and GOLD. Neutral on ETH. Hard to be bullish and long in weak markets.
  • Panic selling will bring in tons of negative new coverage. Get ready to be a BTC and ETH buyer

CURRENT TRADING POSITION:  LONG GOLD



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