NEW THIS WEEK – A WHOLE 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.
5/30/18 Closing Prices:
Bitcoin: $7,474.95 (+$51.91)
Ethereum: $563.98 (+4.42)
Gold: $1,302 (+$2)
Dow Jones Industrials: 24,667.78 (+306.33)
S&P 500: 2,724.01 (+34.15)
Nasdaq Composite: 7,462.45 (+65.86)
Trading Summary Notes for Wednesday, 5/30/2018
- Uncertainty, geopolitical events, dollar, interest rates, etc not moving markets currently
- Cryptos (BITCOIN, ETHEREUM) stalled with lack of interest. “Dead money” for a while?”
- GOLD moving up and down slightly around $1,300. No conviction right now
- Trading ranges getting smaller as trading interest dries up. Summer already?
- Choppy (not volatile) markets may be here for a while
- Currently neutral on gold, long term bullish on BTC & ETH
CURRENT TRADING POSITION: LONG BITCOIN
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews