The Taylor Report-Bitcoin vs Gold vs Ethereum (9/25/18)

The Yo Yo Continues, Down Day for BITCOIN and ETH; GOLD Up $2, Back above $1,200

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.

9/25/18 Closing Prices:

Bitcoin: 6,415.16 (-$191.72) 
Ethereum: $209.62 (-$24.56)
Gold: $1,201 (+$2.00) 
Dow Jones Industrials: 26,492.21 (-69.84)
S&P 500: 2,915.56 (-3.81)
Nasdaq Composite: 8,007.47 (+14.22)

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 Tuesday, 9/25/2018

  • Up down, up down! The Yo Yo movements continue in the cryptos
  • BITCOIN sinks $200, ETH drops a big $25
  • Why? Honestly, I have no idea. Cryptos (specifically BTC & ETH) are suffering from general lack of interest. Negative news (hacks, etc.) brings in some sellers, dip buyers then step in. That’s it…
  • ETH downside at $200, upside target $300
  • BITCOIN downside support at $6,000, upside target $8,500
  • GOLD has fallen in love with $1,200……..plus or minus a few dollars. Trading off dollar and watching interest rates (Fed announces tomorrow another rate increase)
  • Inflation is picking up and tougher trade talk helping GOLD
  • Great buying opportunity for GOLD. $1,190-$1,195 held support, upside target $1,245-$1,250. GOLD needs a solid close above $1,210
  • 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