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)
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