The Taylor Report-Bitcoin vs Gold vs Ethereum (11/1/18)

BITCOIN and ETH Struggling; GOLD Rocking and Jumping Higher

Bill Taylor

By Bill Taylor, Contributor/Fintek Capital

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.

11/1/18 Closing Prices:
Bitcoin:  $6,306.20 (+$44.27)
Ether:  $196.44 (+$1.55)
Gold:  $1,233 ($21) 
DJIA: 25,380.74 (+264.98)
S&P 500: 2,740.37 (+28.63) 
Nasdaq Comp: 7,434.06 (+128.16) 

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, 11/1/2018

  • Struggling and drifting…..for now…..both BITCOIN and ETH sink and sell off slightly and then drift back up
  • BITCOIN continues to hold above $6,000 and climbs back up to $6,500
  • ETH dips below $200 and rallies back up to around $205
  • Genuine lack of interest in the crypto space right now. That usually leads to strong upside spike signaling a new upward move. Timing? You only know AFTER it happens
  • Very positive risk/reward for buying BTC and ETH
  • BITCOIN downside support at $6,000, upside target $8,500
  • ETH downside at $185-$190, upside target $300
  • GOLD explodes up today. GOLD technically very strong. GOLD looks to have broken out of long time $1,200 +/- area
  • News today that President Trump wants to put sanctions on the sale of GOLD by Venezuela to raise capital (raid the treasury of Venezuela) may have helped spur rally. Also, inflation is picking up (as we have predicted) led by wages
  • Wage inflation always leads to price inflation. Very bullish for GOLD
  • GOLD upside target $1,350. Yes, that’s $1,350. Expect some “backing and filling” but buy the dips
  • Long term bullish on BITCOIN and GOLD. Short term bullish on ETH


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