WE HOPE YOU ENJOY OUR NEW FORMAT FOR THE TAYOR REPORT – BITCOIN VS GOLD VS ETHEREUM, INCLUDING A LINK TO THE NEW CME ETHEREUM INDEXES!
By Bill Taylor, Contributor
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.
7/24/18 Closing Prices:
Bitcoin: $8,197.50 (+$493.32) Ethereum: $476.45 (+$15.41) Gold: $1,225 (-$0-) Dow Jones Industrials: 25,241.94 (+197.65) S&P 500: 2,820.40 (+13.14) Nasdaq Composite: 7,840.77 (-1.11)
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 IndexTrading Summary Notes for Tuesday, 7/24/2018
- Go with the "brand Name", BITCOIN leaps up $500
- BITCOIN is the crypto market leader
- Solid institutional buying a huge factor. Bitwise announces plans for ETF
- Next stop for BITCOIN $9,500-$10,000? Momentum looks good
- ETHEREUM has a nice 'pick up' but can't match BITCOIN'S strength
- If bitcoin hits $10,000 ETH should hit $500. BTC better choice
- GOLD out of favor.......FOR NOW
- Short interest in gold getting much too large. Be careful
- Geopolitical events, inflation and currency risks being ignored by gold market. That won’t last and don’t be caught short
- GOLD......when there are no reasons to buy.........that's when you buy
- Risk/reward in GOLD………..risking $20 (down to $1,200) to make $200 ($14,000 target
CURRENT TRADING POSITION:
LONG BITCOIN AND GOLD
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews