The Taylor Market Report (2/27/24)

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Common Sense for Uncommon Markets

By Bill Taylor, CEO-Digital Wealth News


DISCLAIMER: The opinions expressed below are my own & do not represent those of Digital Wealth News or any affiliates.  Any financial advice included in the column is for entertainment purposes only.

Bullish for week of 2/27/24
BTC | ETH

Neutral for week of 2/27/24
GOLD

Bearish for week of 2/27/24
S&P 500  

2/27/24 Closing Prices :

BTC: $57,072.77  | +9.5% | (Tue-Tue)
ETH: $3,247.25  | +9.1% | (Tue-Tue)
Gold: $2,010 | +0.02% | (Tue-Tue)
S&P 500: 5,078.18 | +2% | (Tue-Tue)


Only a few days left in February. 17% of 2024 is gonna be gone. Hope it has been a good two months. If you have been in Bitcoin, Ethereum or AI stocks, congrats.

Once we get into March, things are really going to start to get “funky.” By “funky” I mean confusing, news conflicts, disinformation and basically chaos. From here on out, any economic numbers have to treated with a grain of salt. Any headline economic numbers may be bogus and subject to revisions (when nobody pays attention). Fake news will abound. If that sounds “crazy,” just wait. Disinformation will be made easier with AI. What I mean is, the investment landscape is about to become murky.

So, readers of the Taylor Market Report (thank you) know I like to be very blunt and direct. Also, a bit redundant. BUT, accurate. Now before we wait (or waste our time) for Friday’s release of the Fed’s favorite inflation gauge (PCE index) which will not change anything, what should you do?

Buy, Buy Buy BITCOIN (and/or ETH). I know I have been preaching that since August 2016, but it works. And still is. BITCOIN is NOT going down until it breaks to a new high ($70K). And it may not go down then. My ETH price call of $3K is ancient history now. Looks like it could see $5K. Just trying to help.

Be neutral on GOLD. All it does is dampen volatility, but it won’t make you money. If you have been in GOLD for all these years you got nothing……..and missed markets. Bad investment UNLESS you’ve used it to dampen volatility while holding BITCOIN/ETH.

S&P 500. At some point (and I don’t know when) there will be a HUGE price correction. Down 20% or so. Five or ten stocks can’t hold the index up forever.  Wwhat’s been a huge HUGE winner? Long BITCOIN, long GOLD and short the S&P 500.……ratios are proprietary, sorry.

And here we are.

(P.S. Are Travis Kelce and Taylor Swift still on? I haven’t kept up with the “meaningful news”)


HERE’S A THOUGHT. SOMETHING TO THINK ON.  WHAT IF WE RUN OUT OF BITCOINS BUT DON’T RUN OUT OF BUYERS?  WHOA!!

HOW TO DEAL WITH THE HIGH COST OF LIVING (INFLATION)? DON’T EAT.  LIVE IN A TENT (SOMEWHERE WARM). DON’T DRIVE OR OWN A CAR.  THERE YA GO. PROBLEM SOLVED.


2024 TARGETS:

  • BITCOIN 2024…….UP……New highs above $70K  (its coming)
  • ETH 2024…………UP……..New highs above $3K  (winner)
  • GOLD 2024……….$1,800-$2,200
  • S&P 500 2024……..3,700-3,900 (down 20%) 

Current trading positions: 

  •  LONG BITCOIN
  •  LONG ETH
  • NEUTRAL GOLD
  • 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 CEO of Digital Wealth News. He is widely published & quoted in financial media and an international expert on markets and BTC, ETH, Gold & SP500.

His opinions are solely his own and for informative purposes only.