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.
7/11/19 Closing Prices:
Bitcoin: $11,728.74 (-$1,127.57)
Ether: $271.58 (-$30.56)
Gold: $1,407 (-$3.00)
DJIA: 27,088.08 (+227.88)
S&P 500: 2,999.91 (+6.84)
Nasdaq Comp: 8,196.04 (-6.49)
Trading Summary Notes for Thursday, 7/11/2019
- TAYLOR REPORT WILL BE OFF NEXT WEEK WHILE REVAMPING FINTEKNEWS AND A VACATION
- BITCOIN’S strong rally hit the “wall” at $13,000. Sellers dropped BTC over $1,000 in short order and more weakness set in
- So far nothing more than profit taking. BITCOIN needs to “re-group” before another rush higher. That may lead to a very slow August
- Expect a test back to $10,000- $10,500 for BTC
- ETH always drops faster than it goes up. Struggles to climb and gives gains back super fast.
- Back to $250 as BITCOIN backs off?
- GOLD having some real volatility around $1,400. Huge selloffs and huge rallies
- Looks like a trading range above and below that $1,400 level of, say, $1,385-$1,425
- GOLD reacting to interest rate speculation and srong dollar/weak dollar perceptions. Still looking for $1,650-$1,700
Current trading positions: LONG BITCOIN & GOLD
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews