The Taylor Report-Bitcoin vs Gold vs Ethereum (7/8/19)


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. 7/8/19 Closing Prices:Bitcoin:  $$11,891.94 (+$508.82) Ether:  $308.36 (+$14.06) Gold:  $1,393 (-$3.50) DJIA:  26,806.15 (-115.98) S&P 500:  2,975.95 (-14.46) Nasdaq Comp:  8,098.38 (-63.41)Trading Summary Notes for Monday, 7/8/2019

  • July 4th holiday week (U.S.) and first week of the third quarter is now over. But slow summer trading is still in focus
  • BITCOIN dropped below $10,000, rallied back up and spent the past few days moving up and down in the mid $11,000 area
  • That first week of the new quarter showed BITCOIN firming up and getting ready for another move higher. Lets say “here we come $15,000?”  Yup!
  • ETH getting a boost from the probable (?) listing of futures by the CME.
  • With CME listed futures on ETH there will be more institutional interest which should give ETH a big boost.  Lets say $350-$400?  Yup!
  • GOLD having some big daily moves above and below $1,400. Interest rate perceptions coupled with dollar strength/weakness making for some sharp volatility
  • Nothing except this trading “noise” has changed. GOLD still in a strong up trend.  Lets say $1,650-$1,700 over a period of time?  Yup!

Current trading positions: LONG BITCOIN & GOLD

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