The Taylor Report-Bitcoin vs Gold vs Ethereum (1/3/19)


By Bill Taylor, Contributor/Fintek Capital 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. 1/3/19 Closing Prices:Bitcoin:  $$3839.76 (+$14.65) Ether:  $148.79 (-$1.02) Gold:  $1,294 (+$13.00) DJIA:  22,686.22 (-660.02) S&P 500:  2,447.89 (-62.14) Nasdaq Comp:  6,463.50 (-202.43) Trading Summary Notes for Thursday, 1/3/2018

  • Happy 2019 and the first few days have seen selling pressure on BITCOIN and ETH subside. A lot of the late year (2018) selling pressure looks like tax related selling. Pressure off?
  • GOLD continued it’s 4th quarter rally and the strength is carrying over into the new year. Buyers back?
  • So, lets get to it. The first few days are basically out of the way (unless you are in equities……then get out of the way) and most traders are just remembering how to look at their screens again (little blurry??)
  • Where Now?
  • LONG TERM BULLISH ON BITCOIN…………..2019 target $11,500……….as regulations become clearer and more institutions get involved. The lows of last year should be a great base
  • NEUTRAL TO SLIGHTLY BULLISH ON ETH…………2019 target $250-$300
  • SUPER LONG TERM BULLISH ON GOLD…………..2019 target $1,400-$1,425……… GOLD becomes THE place to be in 2019 and beyond. I have been “preaching” gold for months. Its where its at
  • So, you heard it (or read it) here first. (Note: short term/active traders should always use stops)
  • Lets go 2019. Its gonna be big

Current trading positions; LONG BITCOIN AND GOLD

Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor