The Taylor Report-Bitcoin vs Gold vs Ethereum (12/4/18)

BITCOIN & ETH Ignoring the Equity Market Selloff, Both Moving Up; GOLD.....Yes GOLD Rocking

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.

12/4/18 Closing Prices:
Bitcoin: $3,992.42  (+$162.92)
Ether:  $111.03  (+$4.46)
Gold: $1,238  (+$16.00)
DJIA: 25,027.07 (-799.36)
S&P 500: 2,700.06 (-90.31)
Nasdaq Comp: 7,158.43 (-283.09)

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 Tuesday, 12/4/2018

  • BOUGHT BITCOIN @ $3,865
  • Equity market selloff not having any effect on BITCOIN or ETH. Knowing that there is no correlation between equities and cryptos, it is still positive that there is no selling spilling over to the cryptos
  • If you are bullish (I am) buy some BITCOIN here and add to it on a dip. Same for ETH. Average in…………stops at $3,250 and $105 respectfully
  • End of the year rally for BITCOIN and ETH? Strong possibility. BITCOIN upside could see $6,500 and ETH $140-$145
  • If (IF) that was a bottom ($3,600-$3,700 BTC) (($95-$100 ETH) there is usually a re-test of those levels
  • GOLD 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
  • Buy the dips in GOLD
  • Geopolitical issues now matter, interest rates softening now matter, a weaker dollar now matters…………and a flight to safety (GOLD) now matter
  • Upside target remains $1,350 (yes, $1,350)
  • Long term bullish on BITCOIN, GOLD and ETH

CURRENT TRADING POSITION:  LONG BITCOIN & GOLD



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