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.

8/29/18 Closing Prices:

Bitcoin: $7.083.81 (+$23.61) Ethereum: $294.16 (+$4.18) Gold: $1,206 (+$5) Dow Jones Industrials: 26,124.57 (+60.55) S&P 500: 2,914.04 (+16.52) Nasdaq Composite: 8,109.69 (+79.65)

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 Wednesday, 8/29/2018

  • BITCOIN holds over $7,000, ETH bumps against $300 and GOLD holds the $1,200 level
  • End of summer (August) always brings extremely quiet trading. That's what happened today
  • BITCOIN upside momentum still intact..........next target $8,500
  • ETH having trouble at $300..........if BTC moves to our target of $8,500 than expect ETH to make it to $330-$340. If not, ETHER moves back down to $225-$250
  • GOLD held $1,200 with dollar easing. Test of $1,195-$1,200 is under way. Holding that area will pave the way to our target of $1,245-$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