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.
12/13/18 Closing Prices:
Bitcoin: $3,390.02 (-$33.60)
Ether: $89.81 (+$.40)
Gold: $1,243 (-$1)
DJIA: 24,597.38 (+70.11)
Nasdaq Comp: 7,070.33 (-27.98)
Trading Summary Notes for Thursday, 12/13/2018
- After spending the day going nowhere like the last few weeks, BITCOIN and ETH plunged in late Thursday trading as unsubstantiated reports of cybersecurity bomb threats to buildings across the U.S.
- The threats demanded payments in BITCOIN to halt the bombers. Obviously it is a scam and a manipulation plot to drop BITCOIN
- Without the scam the crypto market would be treading water to year end…………which basically has ended.
- The next week should be extremely quiet. 2018 has been the year of the bear
- GOLD solid and holding the gains of the past few weeks
- GOLD continues to look super positive breaking out to the upside (as predicted). It is becoming more and more evident that GOLD bottomed just under $1,200 and is in the early stages of a long term bull market
- Near term resistance around $,1250-$1,255
- Upside target remains $1,350 (yes, $1,350)
- Long term bullish on BITCOIN, GOLD. Now neutral on ETH
Current trading positions; LONG BITCOIN AND GOLD
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor