Ugly Friday For Cryptos; BITCOIN & ETHEREUM Tank; GOLD Holds, Inches Up (6/22/18)

bitcoin gold


WE HOPE YOU ENJOY OUR NEW FORMAT FOR BITCOIN VS GOLD, 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.

6/22/18 Closing Prices:

Bitcoin: $6,171.12  (-$546.04) 
Ethereum: $474.45 (-$54.92) 
Gold: $1,270 (+$3) 
Dow Jones Industrials: 24,580.89 (+119.19)
S&P 500: 2,754.98 (+5.32)
Nasdaq Composite: 7,692.82 (-20.14)

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, 6/22/2018

  • BITCOIN, ETHEREUM & all cryptos have a Friday crash
  • Japan cracking down on crypto exchanges after new hacks
  • Bankruptcy judge in Japan overseeing Mt Cox distribution will free up $1 billion in coins to former clients and creditors in settlement. Large potential overhead supply
  • Bitcoin, ethereum and crypto upside momentum being challenged
  • Makes my upside calls this week look…………bad
  • GOLD holds and inches up a little
  • Prospect of higher interest rates taking precedent over trade, inflation and geopolitical fears
  • Do not under estimate inflation………its coming
  • Support for gold $1,255-$1,260
  • Long term bullish on BTC, ETH and gold…………….really

CURRENT TRADING POSITION:  LONG BITCOIN



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