WE HOPE YOU ENJOY OUR NEW FORMAT FOR BITCOIN VS GOLD, 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.
6/14/18 Closing Prices:
Bitcoin: $6,405.10 (-$33.93) Ethereum: $474.47 (+$2.98) Gold: $1,304 (+$3) Dow Jones Industrials: 25,175.31 (-25.89) S&P 500: 2,782.49 (+6.86) Nasdaq Composite: 7,761.04 (+65.34)
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 IndexTrading Summary Notes for Thursday, 6/14/2018
- SEC (U.S. Securities & Exchange Commission) declares BITCOIN and ETHEREUM are not securities
- Announcement came after 'close', both rally nicely in later trading
- Still, rumors of crypto trading manipulation and potential exchange closures hanging over market
- SEC announcement positive for BTC & ETH, but not definitive for cryptos in general. Expect more oversight
- GOLD now holding above $1,300. U.S. Federal Reserve rate hike not a factor
- Inflation and wage pressure beginning to take hold
- Recent inflation numbers are beginning to “run hot”. Labor shortages ALWAYS lead to upside wage pressures…….and inflation
- Turning positive of GOLD
- Long term bullish on BTC, ETH and gold
CURRENT TRADING POSITION:
NO CURRENT TRADING POSITIONS
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews