The Taylor Report-Bitcoin vs Gold vs Ethereum (2/25/19)


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. 2/25/19 Closing Prices:Bitcoin:  $3,784.41 (-$8.77) Ether:  $136.55 (-$3.84) Gold:  $1,327 (-$2.00) DJIA:  26,091.95 (+60.14) S&P 500:  2,796.11 (+3.44) Nasdaq Comp:  7,554.46 (+26.92) Trading Summary Notes for Monday, 2/25/2019

  • Right on schedule (well, kind of) BITCOIN and ETH decided to not just wake up, but JUMP out of the doldrums bed
  • After weeks (seems like years) of both cryptos languishing in the doldrums, the realization that the selling had done itself out
  • So, let’s revisit some points of last week’s report;

Trading Summary Notes for Monday, 2/25/2019

  • After ‘popping’ over $4,000 (actually almost $4,200) BITCOIN dropped back below the round number and found a resting place
  • Taking the stand that BITCOIN has bottomed and turned, the next “big” number is $4,500. Expect that number to be tested
  • A close above $4,500 would bring in buyers and then the target is $6,500.
  • Have not heard this in a while….BUY the BITCOIN dips
  • ETH challenges $150 on the BITCOIN rise………..then settles back down a little
  • ETH is just following in BTC’s footsteps. If BITCOIN gets to our next target of $6,500, ETH should see $190-$195
  • Positive news for GOLD;  Barrick Gold’s offer (hostile) to acquire Newmont Mining would (if successful) result in reducing some mining, thus supply
  • GOLD is already in a firm uptrend so a merger would just put a bit more fuel in a long term uptrend
  • Near term target for GOLD is $1,400. Buy the dips

Current trading positions; LONG BITCOIN, ETH AND GOLD

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