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.
8/24/18 Closing Prices:
Bitcoin: $6,525.51 (+$77.77)
Ethereum: $274.68 (+$0.78)
Gold: $1,205 (+$20)
Dow Jones Industrials: 25,790.35 (+133.37)
S&P 500: 2,874.69 (+17.71)
Nasdaq Composite: 7,945.98 (+67.52)
Trading Summary Notes for Friday, 8/24/2018
- BOUGHT BTC AT $6,530. NO SELLING AFTER SEC TURNED DOWN ETF APPLICATIONS
- SEC decision to not approve bitcoin ETFs did not bring in sellers. Talk is they may take “another look”
- Positive for BTC and technically looks good. Back to $8,500?
- ETH barely moves. Dead money for now. Interest in ETH low
- GOLD rockets up back over $1,200
- Rumors of Germany pulling out of US financial system causes short covering
- Talk of inflation picking up and realization the dollar can’t go up forever helps GOLD
- GOLD holding $1,175-$1,180 so far
- Long term bullish on BITCOIN and GOLD. Neutral on ETH.
CURRENT TRADING POSITION: LONG BITCOIN and GOLD
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews