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.
8/7/18 Closing Prices:
Bitcoin: $7.072.67 (+$140.68)
Ethereum: $407.85 (+3.02)
Gold: $1,211 (+$3)
Dow Jones Industrials: 25,628.91 (+126.73)
S&P 500: 2,858.45 (+8.05)
Nasdaq Composite: 7,883.66 (+23.99)
Trading Summary Notes for Tuesday, 8/7/2018
- BITCOIN, ETHEREUM and GOLD all move higher
- After close, BITCOIN drops under $7,000; ETH drops under $400
- ETH weakest of the group. Next stop $350-$360?
- Appears most of the selling is coming late and from the U.S.
- Lack of interest and lack of buyers dampening the markets.
- Bitcoin back to $6,000?
- GOLD trying hard to shake off strong dollar headwinds
- Geopolitical issues (trade wars, currency volatility, Mideast tensions, etc) having no effect on cryptos and gold (go figure
- BTC and Gold just out of favor and moving lower. Strong fundamentals being ignored
- Long term bullish on BITCOIN and GOLD. Neutral on ETH. Hard to be bullish and long in weak markets.
CURRENT TRADING POSITION: LONG BITCOIN AND GOLD
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews