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.
8/22/18 Closing Prices:
Bitcoin: $6,653.16 (+$244.38)
Ethereum: $284.12 (+$9.12)
Gold: $1,196 (+$3)
Dow Jones Industrials: 25,733.60 (-88.69)
S&P 500: 2,861.82 (-1.14)
Nasdaq Composite: 7,889.10 (+29.92)
Trading Summary Notes for Wednesday, 8/22/2018
- Tomorrow (Thursday) SEC will rule on two ETF funds from ProShares
- Both BTC and ETC have early spike (short covering?), sell off in afternoon to basically unchanged
- A ‘no’ ruling will send BTC and ETH plunging. Note: SEC “doesn’t like cryptos…..just saying”
- CRYPTO PANIC MAY NOT BE OVER YET! BITCOIN could break down under $6,000 in a panic. Target $4,500-$5,000
- GOLD up again, pushing up to $1,200
- Interest rates easing slightly helps GOLD. US political “noise” now joins inflation, Venezuela, Brexit, Turkey, trade issues and Euro problems (Italy) in the plus column for GOLD
- Minus column for GOLD? Dollar strength
- GOLD holding $1,175-$1,180 so far
- Long term bullish on BITCOIN and GOLD. Neutral on ETH.
CURRENT TRADING POSITION: LONG GOLD
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews