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.
7/30/18 Closing Prices:
Bitcoin: $8,133.32 (+$278.06 fr Friday's close) Ethereum: $459.48 (-$0.02 fr Friday's close) Gold: $1,222 (-$1 fr Friday's close) Dow Jones Industrials: 25,306.83 (-144.23) S&P 500: 2,802.60 (-16.22) Nasdaq Composite: 7,630.00 (-107.42)
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 Monday, 7/30/2018
- After a sharp Friday dip, BITCOIN recovers and holds solid gains
- "Buy the dip" mentality now in play for BITCOIN. Near term target still $9,500-$10,000
- BITCOIN is the market leader with strong upside momentum
- ETHEREUM lost a whooping 2 cents since Friday. ETH is "dead money" currently
- ETH may see $500 IF and WHEN BTC hits $10,000. Stay with the leader......BITCOIN
- GOLD hanging around $1,220-$1,225. Concerns over dollar strength and interest rates are a headwind
- Federal Reserve meeting this week. No change in interest rate this time expected
- Geopolitical events, currency risks and INFLATION not in the market
- 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