The Taylor Report-Bitcoin vs Gold vs Ethereum (9/20/18)

BITCOIN Springs to Life, Jumps $100; ETH Wiggles, Adds $3; GOLD Pushing $1,210, Breakout?

Bill Taylor


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.

9/20/18 Closing Prices:

Bitcoin: $6,416.86 (+$106.30) 
Ethereum: $211.13 ($2.71) 
Gold: $1,208 (+$4) 
Dow Jones Industrials: 26,406.37 (+159.41)
S&P 500: 2,930.75 (+22.80)
Nasdaq Composite: 8,028.23 (+78.19)

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, 9/20/2018

  • BITCOIN jumps back up over $6,400 with a little more active trading today. BTC is the leader in the crypto sector so watch it carefully
  • ETH added a few dollars but still is tied to whatever BITCOIN does. It currently has no life of its own
  • Cryptos got some life overall. Has trading money been in cannabis (marijuana) stocks and maybe now returning to crypto? Just thinking
  • GOLD looking very strong and moving up. Big test of $1,210 is coming
  • GOLD, a solid close above $1,210 should bring in buyers; target $1,250
  • Inflation becoming a bigger topic of conversation. Don’t overlook it
  • BITCOIN downside support at $6,000, upside target $8,500
  • ETH downside at $165-$170, upside $300 (but needs a very broad crypto rally)
  • Long term bullish on BITCOIN and GOLD. Short term bullish on ETH.

CURRENT TRADING POSITION:  LONG BITCOIN, ETH and GOLD




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