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.
8/10/18 Closing Prices:
Bitcoin: $6,438.17 (-$18.13) Ethereum: $359.79 (-$3.46) Gold: $1,212 (-$0-) Dow Jones Industrials: 25,313.14 (-196.09) S&P 500: 2,833.28 (-20.30) Nasdaq Composite: 7,839.11 (-52.67)
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 Friday, 8/10/2018
- Lets call it like it is.........BORING! That's Friday in the summer trading
- BITCOIN.........after a huge decline the last week or so, no bounce or big rally
- ETHEREUM..... " " " " " " " " " " " " " " (dittos)
- GOLD..............holding to the $1.205 -$1,210 area. It so wants to go up
- BTC and ETH are NOT acting well. Way too quiet and good news/fundamentals NOT bringing in buyers
- This may be "crypto bottom" OR a big "flush out" may be brewing. BTC $4,500-$5,000? ETC $250-#300? Coin flip right now
- Selling climax would be a tremendous buying opportunity. Panic at the top ($20,000) and a panic at the bottom (?)
- GOLD has a whole lot of reasons to go up (except dollar strength/higher interest rates). BUT, could trade down to $1,175-$1,180
- Long term bullish on BITCOIN and GOLD. Neutral on ETH. Hard to be bullish and long in weak markets
- Lots of thoughts on a BORING summer day
CURRENT TRADING POSITION:
LONG GOLD
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews