The Taylor Report-Bitcoin vs Gold vs Ethereum (8/9/18)

Typical Summer Markets; BITCOIN, ETHEREUM, GOLD All Stagnant and Little Movement


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)

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 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