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.

11/18/18 Closing Prices:

Bitcoin: $5,528.07 (+$41.94)

Ether: $173.63 (+$2.30)

Gold: $1,221

DJIA: 25,413.22

S&P 500: 2,736.27

Nasdaq Comp: 7,247.87

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

T

rading Summary Notes for Sunday, 11/18/2018

  • A little weekend softness hit both BITCOIN and ETH. Both rose back up Sunday to where they were the end of last week
  • After last week's huge drop things have stabilized (?). Capitulation complete? BITCOIN and ETH bottom?
  • So, where now? (from someone who did not see this……turn myself in). If this is the capitulation stage the risk reward for BITCOIN and ETH is a lot better. Lets say $5,000-$5,500 to buy BTC and $155-$165 for ETH
  • Nothing fundamentally has changed EXCEPT investor fears
  • GOLD, or GOLD, GOLD, GOLD. Love it. Interest rates have actually eased slightly as has the dollar
  • Nervousness about geopolitical events, inflation and even higher interest rates will subside. GOLD’S upside still appears intact……….buy the dip
  • GOLD upside target $1,350. Yes, that’s $1,350. Expect some “backing and filling”
  • Still long term bullish on BITCOIN, GOLD and short term bullish on ETH

CURRENT TRADING POSITION:

LONG BITCOIN, ETH and GOLD

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