COMING 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 & Major Market Averages on a daily basis, using the CME Bitcoin Indexes (BRR & BRTI) and the CME Ethereum Indexes (ETH_RR_USD) & (ETH_RTI_USD) for reference.
5/22/18 Closing Prices:
Bitcoin: $8,225.58 (-$194.22)
Ethereum: $682.94 (-17.51)
Gold: $1,292 (-$0-)
Dow Jones Industrials: 24,834.41 (-178.88)
S&P 500: 2,724.44 (-8.57)
Nasdaq Composite: 7,378.46 (-15.58)
Trading Summary Notes for Tuesday, 5/22/2018
- The crypto twins, BITCOIN & ETHEREUM give back a little of the weekend gains in slow trade
- Bitcoin holding in the low $8,000 area. Building support? Maybe
- Another run to $9,500 for BTC? Wait to see if selling dries up around $8,100-$8,200
- ETH may drift down to $650-$660
- All cryptos in dull uninspired trading
- GOLD wandering around in the $1,280- $1,295 area
- Dollar weakness will spike gold back above $1,300. Inflation talk will get gold to $1,320
- Inflation still the number one to fear. That’s bullish for gold.
- Currently neutral on crypto’s (bitcoin, ethereum) and gold
CURRENT TRADING POSITION: NO CURRENT POSITIONS
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews