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. 2/11/19 Closing Prices:Bitcoin: $3,599.83 (+$7.35) Ether: $120.37 (+$4.51) Gold: $1,312 (-$6.50) DJIA: 25,169.53 (-220.77) S&P 500: 25,053.04 (-53.29) Nasdaq Comp: 7,307.90 (+9.71) Trading Summary Notes for Monday, 2/11/2019
- BITCOIN and ETH get a nice big weekend jump on bullish analyst comments. People starting to take note that the $3,400 BITCOIN area looks like selling exhaustion
- ETH beginning to look attractive and the $105 area looks pretty firm
- For both BITCOIN and ETH there is a lot of base building going on
- So, lets just say, $3,400 +/- for BTC and $105 +/_ for ETH is VERY attractive long term
- Probably NOT the time to be short cryptos. Upside spikes can be very hazardous to your trading account
- BITCOIN and ETH upside “explosions” will be impressive
- Today’s dollar strewth put a little softness in GOLD. Any dollar rallies create a buying opportunity for GOLD
- Once again, buying the dips in GOLD is the strategy of 2019. Near term target is $1,400
- LONG TERM BULLISH ON BITCOIN AND GOLD. NEUTRAL ON ETH (but getting more “interested”)
Current trading positions; LONG BITCOIN AND GOLD
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor
