The Taylor Report-Bitcoin vs Gold vs Ethereum (9/21/18)

BITCOIN JUMPS $300, Back Over $6,700; ETH Follows, Up $20+; GOLD Drops $10 On Brexit Problems

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.

9/21/18 Closing Prices:

Bitcoin: $6,725.11 (+$308.25) 
Ethereum: $229.26 (+$18.13) 
Gold: $1,198 (-$10) 
Dow Jones Industrials: 26,743.50 (+86.52)
S&P 500: 2,929.67 (-1.08)
Nasdaq Composite: 7,986.96 (-41.28)

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, 9/21/2018

  • BITCOIN jumps higher as buyers return. Realization that cryptos bottomed last week is sinking in
  • BITCOIN downside support at $6,000, upside target $8,500
  • ETH followed BITCOIN and picked up $20…….trading just short of $250 in late trading
  • Joining a broad crypto rally, upside target for ETH is $300
  • Looks like the BITCOIN, ETH and crypto strength has some legs. Momentum is up
  • GOLD sinks hard back down under $1,200 on news of Brexit talks on trade breaking down
  • Talks will resume and it all will be worked out. Great buying opportunity for GOLD
  • $1,190-$1,195 held support
  • GOLD, a solid close above $1,210 should bring in buyers; target $1,250
  • 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