The Taylor Report-Bitcoin vs Gold vs Ethereum (11/4/18)

BITCOIN & ETH Steady Then Jump Up Sunday Afternoon On News of Bitcoin Cash Hard Fork

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.

11/4/18 Closing Prices:
Bitcoin:  $6,364.84 (+$36.28)
Ether:  $202.05 (+$3.55)
Gold:  $1,233 (+$2) (from Friday’s close)
DJIA: 25,270.83 (-109.91) (from Friday’s close)
S&P 500: 2,723.06 (-17.31) (from Friday’s close)
Nasdaq Comp: 7,356.99 (-77.06) (from Friday’s close)

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 Sunday, 11/4/2018

  • After spending the weekend drifting around, both BITCOIN and ETH take a big jump up in Sunday afternoon trading on news of Bitcoin Cash getting a hard fork
  • BITCOIN back above $6,400; ETH up to $213
  • Both BTC and ETH (cryptos in general) seem poised to break out of the doldrums and move higher. Timing is always the issue, but it seems close
  • 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 is holding sharp gains of the past week. Very bullish
  • Inflation IS picking up led by strong wage demands. 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