The Taylor Report (12/29/20)

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Simple Thoughts in Complex Markets

By Bill Taylor, Contributor/CIO-Entoro Wealth


The opinions expressed below are my own & do not necessarily represent those of Entoro Wealth or any of its affiliates


Bullish for week of 12/29

Bitcoin | Ethereum | Gold

Bearish for week of 12/29

S&P 500

12/29/20 Closing Prices:

Bitcoin:  $26,575.83  (-$429.08)
Ether:   $719.43 (-$11.90)
Gold:    $1,872  (+$6.00)
S&P 500  3,727.04  (-8.32)

Trading Summary Notes for Tuesday, 12/29/20:

What’s new? WOW!! Even expecting BITCOIN to go parabolic….when it happens it is something to behold. WOW! ETH above $700. Gold solid. S&P 500? Defying gravity.

What to do now? Don’t mess with winning positions. Keep bitcoin, ether and gold long positions. Stay short the S&P 500. Great hedge. Prepare for 2021 to experience inflation.

But first, I first posted my year end predictions a couple months ago (you can check past Taylor Reports). I am going to continue posting my year end price predictions with comments.

Year end BTC price? Was $17,500. NOW…………$25.000 (maybe more) (I GET AN A+)

Year end ETH price? Was $500 NOW……….$550-$600 (maybe +++) (UNDERESTMATED…..taking an A-)

Year end GOLD price? Was $2,200 NOW………$1,875-$1,900 (Nailed it….A++)

Year end S&P? I get an F. But graded on the curve probably everyone got an F too.

  • BITCOIN …………… 2021 target? UP, UP, UP;
  • Huge new institutional buyers are allocating to BITCOIN almost daily;
  • There are huge buyers under the BITCOIN market;
  • CME GROUP HAS ANNOUNCED ETH FUTURES TO BEGIN FEB 8TH;
  • Surely ETH will see $1,000 ;
  • Stay long. GOLD, buy the dips, 2021 upside target is $2,500. Longer term? $3,000-$3,500;
  • S&P 500. Don’t be fooled. Market is looking “tired”;
  • TSLA and tech stocks may actually turn out to be a drag on the S&P;
  • 2021 S&P 500 “dips” to 2,500-2,600?

Current trading positions:  LONG BITCOIN,  LONG ETH, LONG GOLD & SHORT S&P 500

HAPPY NEW YEAR, TOO!

Entoro Wealth offers SMA’s to accredited investors that include Bitcoin, Ethereum, Gold and short S&P 500


We compare the price of Bitcoin, Ethereum, Gold & the S&P 500. We use the CME Bitcoin Indexes (BRR & BRTI) and the CME Ethereum Indexes (ETH_RR_USD) & (ETH_RTI_USD) for reference as well as the London Bullion Market afternoon price settlement on the digital assets & gold.


Bill Taylor is Managing Director/CIO at Entoro Wealth & is widely published in financial industry media throughout the world