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.
9/20/18 Closing Prices:
Bitcoin: $6,416.86 (+$106.30) Ethereum: $211.13 ($2.71) Gold: $1,208 (+$4) Dow Jones Industrials: 26,406.37 (+159.41) S&P 500: 2,930.75 (+22.80) Nasdaq Composite: 8,028.23 (+78.19)
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 IndexT
rading Summary Notes for Thursday, 9/20/2018
- BITCOIN jumps back up over $6,400 with a little more active trading today. BTC is the leader in the crypto sector so watch it carefully
- ETH added a few dollars but still is tied to whatever BITCOIN does. It currently has no life of its own
- Cryptos got some life overall. Has trading money been in cannabis (marijuana) stocks and maybe now returning to crypto? Just thinking
- GOLD looking very strong and moving up. Big test of $1,210 is coming
- GOLD, a solid close above $1,210 should bring in buyers; target $1,250
- Inflation becoming a bigger topic of conversation. Don't overlook it
- BITCOIN downside support at $6,000, upside target $8,500
- ETH downside at $165-$170, upside $300 (but needs a very broad crypto rally)
- Long term bullish on BITCOIN and GOLD. Short term bullish on ETH.
CURRENT TRADING POSITION:
LONG BITCOIN, ETH and GOLD
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor