The Taylor Report-Bitcoin vs Gold vs Ethereum (4/25/19)


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. 4/25/19 Closing Prices:Bitcoin:  $5,445.73 (-$13.25) Ether:  $163.59 (-$0.82) Gold:  $1,278 (+$3.00) DJIA:  26,462.08 (-134.97) S&P 500:  2,926.17 (-1.08) Nasdaq Comp:  8,118.68 (+16.67)Trading Summary Notes for Thursday, 4/25/2019

  • After recent strong gains BITCOIN (therefore ETH as well) softened slightly today but not enough to stoke selling fears. The rally is intact
  • With institutions (Andreessen Horowitz, BlackRock, Fidelity, TD Ameritrade, etc) gaining interest and direct exposure it sure looks like the floor in BITCOIN was put in months ago (read it here first…..or second anyway)
  • Be aware, as the price moves up the volatility will be increasing in BTC, ETH and all cryptos. I always recommend trailing stops (-10%?) to protect gains
  • Near term targets for BITCOIN still $6,500 and ETH $195
  • GOLD has been pushed lower recently (again) as the dollar has resumed strength. Higher dollar makes GOLD less attractive……..for now
  • Timing is everything and the USD will weaken (significantly) but when is the big question. Way to many geopolitical risks/events that are being overlooked will also make GOLD explode (?)…..but again, when
  • Long term target for GOLD still $1,400

Current trading positions; LONG BITCOIN, ETH AND GOLD

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