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.
8/9/18 Closing Prices:
Bitcoin: $6,456.30 (-$4.21)
Ethereum: $363.25 (+$2.15)
Gold: $1,212 (-$2)
Dow Jones Industrials: 25,509.23 (-74.52)
S&P 500: 2,853.58 (-4.12)
Nasdaq Composite: 7,891.78 (+3.46)
Trading Summary Notes for Thursday, 8/9/2018
- After several days of huge price declines, BITCOIN and ETHEREUM hold steady
- Is the selling over? Was that the selling climax? Only time will tell…….no hurry to rush in
- BITCOIN heading to $4,000? ETH to $200-$250?
- Selling climax would be a tremendous buying opportunity. Panic at the top ($20,000) and a panic at the bottom (?)
- GOLD gives up $2.00 in very quiet trade
- GOLD holding to the $1.205 -$1,210 area
- Long term bullish on BITCOIN and GOLD. Neutral on ETH. Hard to be bullish and long in weak markets
- Typical “NO NEWS” summer day…..boring
CURRENT TRADING POSITION: LONG GOLD
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews