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.
8/14/18 Closing Prices:
Bitcoin: $6,079.90 (-$311.77) Ethereum: $258.08 (-$57.99) Gold: $1,194 (-$0-) Dow Jones Industrials: 25,299.92 (+112.22) S&P 500: 2,839.96 (+18.03) Nasdaq Composite: 7,870.89 (+51.19)
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 IndexTrading Summary Notes for Tuesday, 8/14/2018
- WATCH OUT FOR A CRYPTO PANIC
- ETH drops hard. $200 next stop?
- BITCOIN hits $6,000. Tries to hold BUT if things get “panicky” BITCOIN could well see $4,500-$5,000
- Selling climax would be a tremendous buying opportunity. Panic at the top ($20,000) and a panic at the bottom (?)
- GOLD finishes unchanged after early weakness
- Turmoil rocking markets. Currency weakness (Turkey, Iran, etc, etc) around the globe causing flight to the U.S dollar and hurting GOLD
- Fear of countries having to raise interest rates to support their fiat currencies also causing GOLD weakness
- Usually (USUALLY) a currency crisis is a strong catalyst for GOLD. Is the market wrong? Inflation still a bigger threat. GOLD buying opportunity?
- GOLD $1,175-$1,180 could be a good entry area
- Long term bullish on BITCOIN and GOLD. Neutral on ETH.
CURRENT TRADING POSITION:
LONG GOLD
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews