The Taylor Report-Bitcoin vs Gold vs Ethereum (4/15/19)


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. 4/15/19 Closing Prices:Bitcoin:  $5,153.19 (+$81.40) Ether:  $166.26 (+$2.40) Gold:  $1,288 (-$2.50) DJIA:  26,384.77 (-27.53) S&P 500:  2,905.58 (-1.83) Nasdaq Comp:  7,976.01 (-8.15) Trading Summary Notes for Thursday, 4/15/2019

  • BITCOIN and ETH pushed higher but is seeing some profit taking in the afternoon. Short term traders should consider using sell stops (say 10%)
  • All strong rallies have pullbacks. Lets turn a touch “neutral on BITCOIN and ETH for a bit
  • News that France has passed legislation allowing institutions to allocate ANY amount of investable funds to go into cryptos will be a strong underpinning…..maybe just not today
  • GOLD continues to be under a bit of pressure. Brexit hard exit? Risk on scenario (sell gold)? Don’t have a clear answer
  • GOLD dips are a buying opportunity and support around $1,285-$1,290 (being tested right now). If GOLD doesn’t hold $1,285 look for a test of $1,250-$1,255
  • Upside target still $1,400
  • Again, to sum up, near term slightly neutral on BITCOIN, ETH and GOLD;
  • Longer term; BITCOIN $6,500     ETH $190-195     GOLD $1,400

Current trading positions; LONG BITCOIN, ETH AND GOLDCurrent trading positions; LONG BITCOIN, ETH AND GOLD

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