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.

5/24/18 Closing Prices:

Bitcoin: $7502.85 (-$375.86) Ethereum: $583.46 (-32.41) Gold: $1,305 (+$12) Dow Jones Industrials: 24,811.76 (-75.05) S&P 500: 2,727.76 (-5.53) Nasdaq Composite: 7,424.43 (-1.53)

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 Thursday, 5/24/2018

  • US Dept. of Justice probing market manipulation of BITCOIN, ETHEREUM & other cryptos
  • BOUGHT BITCOIN AT $7,510 ON BUY STOP
  • Regulation, investigations, manipulation rumors have created buying opportunity for BTC & ETH. Fundamentals and long term prospects have not changed
  • Crypto story still solid
  • GOLD jumps up on President Trump cancelling summit with North Korea
  • If gold holds above $1,300 for several more days it would be bullish
  • If gold drops back below $1,300 look for $1,285-$1,290 for support.
  • 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