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.
7/25/18 Closing Prices:
Bitcoin: $8,188.07 (-$9.43) Ethereum: $469.84 (-$6.61) Gold: $1,232 (+$7) Dow Jones Industrials: 25,414.10 (+172.16) S&P 500: 2,846.07 (+25.67) Nasdaq Composite: 7,932.24 (+91.47)
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 Wednesday, 7/25/2018
- Crypto leader BITCOIN takes a pause after big 'run-up'. Only off slightly
- BITCOIN upside momentum strong and intact
- Near term upside target $9,500-$10,000
- ETHER eases also. ETH not as strong as bitcoin, but firm
- Near term target for ETH is $500 IF BTC rallies to $9,500-$10,000
- GOLD coming back into favor. Too many shorts and too much negativity on gold
- Geopolitical events, inflation and currency risks being ignored by gold market. That won’t last and don’t be caught short
- GOLD……when there are no reasons to buy………that’s when you buy
- Risk/reward in GOLD………..risking $20 (down to $1,200) to make $200 ($14,000 target
CURRENT TRADING POSITION:
LONG BITCOIN AND GOLD
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews