The Taylor Report-Bitcoin vs Gold vs Ethereum (4/1/19)


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. 4/1/19 Closing Prices:Bitcoin:  $4,139.83 (+$47.97) Ether:  $142.00 (+$.70) Gold:  $1,287 (-$6.00) DJIA:  26,258.42 (+329.74) S&P 500:  2,867.19 (+32.79) Nasdaq Comp:  7,828.91 (+99.59) Trading Summary Notes for Monday, 4/1/2019

  • Beginning the 2nd quarter, BITCOIN continues its slow move higher proving BTC did bottom in the 1st quarter. The train has left the station
  • And, like I have been saying, ETH is just tagging along. Where Bitcoin goes, ETH follows
  • Next big resistance is $4,500 ($150 for ETH). Don’t worry about the purported $4,200 resistance, ain’t no big deal……$4,500 is the next stop
  • Longer term $6,500 for BITCOIN and $190-$195 for ETH. The next bull market has begun
  • GOLD falling back below $1,300. Is this a buy crypto sell GOLD time? NO. Equity markets and moving up (risk on) and GOLD is selling off (risk off). Its been proven there is no correlation between GOLD and BITCOIN
  • GOLD will move in “spurts”, both up and down. Not to worry, GOLD goes to $1,400
  • Super long term bullish on BITCOIN, ETH and GOLD

Current trading positions; LONG BITCOIN, ETH AND GOLD

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