The Taylor Report - Bitcoin vs Gold vs Ethereum

Published Date
December 6, 2019


By Bill Taylor, Contributor/Entoro Wealth

The opinions expressed below are my own and do not necessarily represent those of Entoro.

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 as well as the London Bullion Market afternoon price settlement.

12/6/19 Closing Prices:

Bitcoin:  $7,393.28  (+$40.28)
Ether:  $147.17  (+$0.03)
Gold:  $1,460  (-$17.00)

Trading Summary Notes for Thursday, 12/6/19

  • WHEN NOBODY IS WATCHING OR CARES, BIG THINGS HAPPEN

We are talking BITCOIN here. The first week of December is over and no one is even speaking or interested in the crypto sector. PERFECT! Santa Clause rally for BTC?   Be Prepared!

  • Upside target (near term) for BITCOIN still looks like $11,000
  • STUPID COMMENT OF THE WEEK?? I SAW SOMEONE POSTED BTC GOING TO ZERO. ALWAYS REMEMBER, THE ONES WHO COMMENT LIKE THAT NEVER BOUGHT ANY BITCOIN, WISHED THEY HAD AND ARE JEALOUS OF THOSE WHO DID. LONG TERM, BITCOIN ROCKS.
  • As in previous comments, ETH follows BITCOIN so its kind of like silver is to GOLD.
  • ETH around $150 looks good. Upside near term target $225 (if BTC goes to $$9,000-$9,500)
  • After dancing around above and below the $1,500 number looks like GOLD is shaking some long holders out. Let’s say $1,450-$1,460 is solid to place to be a buyer for next move up.
  • Slight uptick in interest rates pushed GOLD down. REMEMBER THE PAST? I do. 1970’s brought record interest rate to combat inflation. OH WAIT…..GOLD hit all time highs (for the time). Don’t sweat interest rates.
  • Ignore the rhetoric. Forward looking, inflation seems to be on the rise and geopolitical risks are only getting stronger. Positive for GOLD
  • GOLD? Stay long. Super powerful move under way. $1,650-$1,700 next target. Buy the dips.
  • ANOTHER VERY STUPID COMMENT? I SAW SOMEONE SAID GOLD COULD ALSO GO TO ZERO. HASN’T DONE THAT IN THOUSANDS OF YEARS SO GUESS THE SHORTS ARE GOING TO HAVE A LUCKY DAY (sic)

Current trading positions:  LONG BITCOIN &GOLD

Bill Taylor is Managing Director/CIO at Entoro Wealth & a frequent contributor to FA-Mag.com

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