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.
8/27/18 Closing Prices:
Bitcoin: $6,722.45 (+$196.94) (from Friday’s close)
Ethereum: $276.22 (+$5.00) (from Friday’s close)
Gold: $1,210 (+$20) (from Friday’s close)
Dow Jones Industrials: 26,052.59 (+266.24)
S&P 500: 2,896.74 (+22.05)
Nasdaq Composite: 8,017.90 (+71.92)
Trading Summary Notes for Monday, 8/27/2018
- BITCOIN, ETH and GOLD all have a solid weekend. BTC and GOLD the leaders
- BITCOIN asserting itself as the leader of all crypto. Back to $8,500?
- ETH barely moves. Dead money for now. Interest in ETH low
- GOLD firmly above $1,200. Not backing off. Looks like GOLD has turned. $1,250?
- Talk of inflation picking up and realization the dollar can’t go up forever helps GOLD
- 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