Bitvo.com
Bitcoin (BTC)
C$14,279 (US$10,712)
August 19, 2:15 pm
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
Technical Trading Score*:
Date Of Inception:
2009
Primary Use:
CURRENCY
18mm
Coin Profile
Bitcoin
is
a
decentralized
coin
enabling
revolutionary means to exchange value across the
globe. It continues to be the biggest and most
influential coin, encouraging peer-to-peer payment
networks powered by its users with no central or
middle authority.
Page 1 of 8
Coins Outstanding:
Maximum Coins:
21mm
POW or POS:
WORK
Current Mining Fee (USD):
~$1.087
Website:
https://bitcoin.org
August 19, 2019
All figures in USD$, unless otherwise specified
LOG IN TO VIEW
â– General Cryptocurrency News:
•
The United States Securities and Exchange Commission (SEC) again
delayed its decision with respect to approving crypto exchange-traded
funds (ETFs). Decisions on three ETFs have now been delayed by the
SEC until later in the fall with the first decision date pushed to September
29, 2019.
•
The Association of Cryptocurrency Enterprises and Startups, Singapore
(ACCESS) has released a Code of Practice for companies participating in
these fields. It is reported that the new code of conduct has the support of
Singapore’s central bank and regulatory authority.
•
Silvergate Capital Corp. is planning to offer loans that can be collateralized
by cryptocurrency. They expect to be offering this to institutional clients
later this year.
•
Professional sports teams continue to increase adoption of cryptocurrency
with the Dallas Mavericks now accepting Bitcoin as a means of payment.
Using BitPay, the Mavericks will now be able to accept Bitcoin for game
tickets and other merchandise next season.
â– BTC News:
•
Hunter Horsley, CEO of Bitwise Asset Management, said that he is
confident that his Bitcoin ETF will get SEC approval. This comes a week
after the SEC postponed their decision once again with the ruling date for
Bitwise now set for October 13, 2019.
•
On Friday, Bakkt received regulatory approval to launch its physically
settled Bitcoin futures product, which is anticipated to go live at the end of
September 2019.
•
Bitcoin once again demonstrated safe haven tendencies with traders in
Hong Kong and Argentina paying a premium of up to $300 per BTC last
week to acquire the coin in jurisdictions plagued by conflict and inflation.
â– Trading History YTD:
•
Overall, the price of BTC has experienced tremendous positive momentum
on the year, increasing from US$3,700 to start the year to around
US$10,700 today, making it one of the best performing assets of 2019.
â– Current Environment:
•
The price of BTC continued to look for direction last week, declining for the
first half of the week before rallying in the second half.
•
Overall, the price of BTC ended down on the week.
•
Volumes for the week averaged 1.6 million coins per day, similar to the
previous week’s volumes.
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Bitvo.com
Technical Trading Score*:
Date Of Inception:
2014
Primary Use:
SMART CONTRACTS
Coins Outstanding:
107mm
Coin Profile
Ethereum is a decentralized platform that runs
smart contracts: applications that run exactly as
programmed without any possibility of downtime,
censorship, fraud or third-party interference. These
apps run on a custom built blockchain. Ether is the
cryptocurrency generated by and used on the
Ethereum platform.
Maximum Coins:
NO MAX
POW or POS:
WORK
Website:
https://www.ethereum.org/
Ether (ETH)
C$266 (US$199)
August 19, 2:15 pm
All figures in USD$, unless otherwise specified
Page 2 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.088
Current Mining Fee (USD):
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August 19, 2019
â– ETH News:
•
In an interview with The Star last week, Ethereum co-founder Vitalik
Buterin discussed scalability issues stating that the Ethereum blockchain
is almost full.
•
Specifically, Buterin stated “Scalability is a big bottleneck because the
Ethereum blockchain is almost full. If you’re a bigger organization, the
calculus is that if we join, it will not only be more full but we will be
competing with everyone for transaction space. It’s already expensive and
it will be even five times more expensive because of us. There is pressure
keeping people from joining.”
•
With respect to how to solve the scalability issue, Buterin said that
networks need to evolve away from the idea that every computer is
required to verify each and every transaction to a model whereby a
computer on average verifies only a small portion of the transactions on
the blockchain.
â– Trading History YTD:
•
The price of ETH commenced the year relatively stable before
accelerating in May and then stabilizing to falling slightly throughout the
summer months, while still remaining in positive territory on the year.
•
However, with the positive performance of BTC in 2019, ETH has
underperformed BTC, with the price of ETH in BTC terms generally
trending down since the end of February.
â– Current Environment:
•
The price of ETH dropped sharply in the first half of the week last week in
terms of USD and BTC before stabilizing and regaining ground in the
second half of the week.
•
Volumes for the week averaged 33.9 million coins per day, which is
higher than the previous week’s volumes of 31.9 million coins per day.
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Bitvo.com
Technical Trading Score*:
Date Of Inception:
2012
Primary Use:
CURRENCY
99.99 Billion
Coin Profile
XRP is the decentralized native currency employed by
Ripple. Ripple is a settlement system, currency
exchange and remittance network created by Ripple
Labs Inc. It is built upon a distributed open source
internet
protocol,
and
supports
tokens
representing
fiat
currency
or cryptocurrency.
The
company
purports
to
enable "secure,
instantly
and
nearly
free
global
financial
transactions of any size with no chargebacks."
Coins Outstanding:
Maximum Coins:
POW or POS:
CORRECTNESS
Website:
https://ripple.com/
XRP
C$0.37 (US$0.28)
August 19, 2:15 pm
All figures in USD$, unless otherwise specified
Page 3 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.0002
Current Mining Fee (USD):
LOG IN TO VIEW
100 Billion
â– XRP News:
•
Ripple’s investment arm Xpring is investing US$4 million as well as 1
billion XRP into Coil in an attempt to increase XRP use cases. Coil is a
newer payment processing system that allows online companies to
accept XRP.
â– Trading History YTD:
•
XRP has underperformed other major cryptocurrencies so far in 2019,
with its price trending down or flat from January through May.
•
While XRP participated in May and June’s almost universal
cryptocurrency price rally, it did not benefit to the same extent as other
major cryptocurrencies.
•
As a result of the above, the price of XRP has declined steadily in
terms of BTC since the beginning of 2019.
â– Current Environment:
•
Similar to the price of BTC and ETH, the price of XRP fell during the
first half of last week before cutting losses in the second half.
•
Volumes for the week were higher, averaging 4.24 billion coins per
day compared to the previous week’s volumes of 3.29 billion coins per
day.
August 19, 2019
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Bitvo.com
Technical Trading Score*:
Date Of Inception:
2017
Primary Use:
CURRENCY
18mm
Coin Profile
Bitcoin Cash is peer-to-peer electronic cash for
the Internet. It is fully decentralized, with no central
bank and requires no trusted third parties to operate.
Bitcoin Cash is the continuation of the Bitcoin project
as peer-to-peer digital cash. It is a fork of the Bitcoin
blockchain ledger, with upgraded consensus rules
that allow it to grow and scale.
Coins Outstanding:
Maximum Coins:
21 mm
POW or POS:
WORK
Website:
https://www.bitcoincash.org/
Bitcoin Cash (BCH)
C$428 (US$321)
August 19, 2:15 pm
All figures in USD$, unless otherwise specified
Page 4 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.0032
Current Mining Fee (USD):
LOG IN TO VIEW
August 19, 2019
â– BCH News:
•
No significant Bitcoin Cash related news last week.
â– Trading History YTD:
•
Somewhat similar to the trend in the price of BTC, the price of BCH
ground sideways for the first quarter of 2019 before experiencing a
price spike in early April.
•
The price of BCH has trended sideways since the beginning of April in
USD terms and negative in BTC terms over the same period.
â– Current Environment:
•
Despite the price of other major cryptocurrencies falling to start the
week last week, the price of BCH rose in USD and BTC terms.
•
However, the price of BCH was unable to hold on to gains, falling in
USD and BTC terms mid-week onwards.
•
Volumes were higher week-over-week, averaging 4.7 million coins per
day compared to the previous week’s volumes of 4.1 million coins per
day.
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Bitvo.com
Technical Trading Score*:
Date Of Inception:
2011
Primary Use:
CURRENCY
62mm
Coin Profile
Litecoin
is
a
peer-to-peer
cryptocurrency
and open source software project released under
the MIT/X11 license. Creation and transfer of
coins is based on an open source cryptographic
protocol and is not managed by any central authority.
The coin was inspired by, and in technical details is
nearly identical to, Bitcoin.
Coins Outstanding:
Maximum Coins:
84 mm
POW or POS:
WORK
Website:
https://litecoin.com/
Litecoin (LTC
C$102 (US$76)
August 19, 2:15 pm
All figures in USD$, unless otherwise specified
Page 5 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.044
Current Mining Fee (USD):
LOG IN TO VIEW
August 19, 2019
â– LTC News:
•
The Binance and Litecoin community jointly identified a potential “dusting
attack” last week. The attack was network-wide, which meant it affected
all users of Litecoin that had an active Litecoin address at the time.
•
Dusting attacks are executed by sending a very small amount of Litecoin
(dubbed “dust”) to active Litecoin wallets, in this case 0.00000546 of
Litecoin. The attacker then waits for the user to spend the dust. Once the
wallet of a user mixes this dust with the main holdings and subsequently
spends it, the attacker will be able to deanonymize the user and will track
all their wallet addresses, exposing them to potential phishing campaigns
or cyber-extortion threats.
•
In this case the offender was identified as the owner of a mining pool
based out of Russia who later contacted Binance in response to the
public warning stating that their intent was to advertise their mining pool
to the users of Litecoin.
â– Trading History YTD:
•
Having started 2019 as a relative outperformer in comparison to other
major cryptocurrencies, the price of LTC lost some momentum in April
onwards, but for a brief recovery in June.
•
Until the end of June, the price of LTC in USD terms has traded positively
for most of the year in 2019.
•
However, as a result of the above noted recent underperformance, the
price of LTC in terms of BTC is now down on the year.
â– Current Environment:
•
The price of LTC trended down for most of the week last week in USD
terms.
•
In terms of BTC, the price of LTC rose at the beginning of the week before
losing momentum and falling for most of the last five days.
•
Volumes last week averaged 37.5 million coins per day which was higher
than the previous week’s volume of 35.8 million coins per day.
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
•
â– DASH News:
Dash Text, which enables individuals to send Dash via SMS text, has
now expanded to include Spain in addition to Venezuela, Colombia, and
the United States. Additionally, they have expanded their Telegram
integration to Canada, Mexico, Peru, Bolivia, Argentina, and nearly every
South and North American country with expansion into Africa and Europe
planned for the future. The expansion enables individuals to easily send
money back and forth instantly for pennies, which is a significant
improvement over traditional remittance services.
•
Dash Next has integrated a gift card/voucher website that offers gift cards
for mobile top ups, music/video streaming, games/apps, hotel stays, and
flights, all available to be purchased in Dash. The integration
supplements the other gift card/vouchers for cryptocurrency websites that
Dash has been integrated into, such as Bitrefill and eGifter.
•
Dash Core Group also partnered with eGifter to launch a gift card store
directly on the main dash.org website and offer up to 10% discounts
through AnyPay’s Dash-back program.
•
A shopping mall in Venezuela has added Dash as a payment method for
its parking garage and has already generated around 700 transactions in
a month. The new Dash payment system replaces the old fiat payment
system that would take over 60 minutes to process. The Dash Cabimas
group, responsible for the integration, has been using on-site assistants
to educate and sign up over 500 individuals for Dash payments.
â– Trading History YTD:
•
After a generally stable start to the year, the price of Dash has
experienced more positive than negative price momentum from February
2019 onwards in terms of USD.
•
However, given the larger price appreciation seen in BTC, the price of
Dash has trended negatively since the end of March in BTC terms.
â– Current Environment:
•
The price of Dash declined throughout most of the week last week before
rebounding slightly over the past couple of days in terms of USD.
•
The price of Dash in BTC experienced the opposite trends, increasing in
the first half of the week before correcting in the second half.
•
Volumes were similar week-over-week, averaging 1.6 million coins per
day.
Bitvo.com
Technical Trading Score*:
Date Of Inception:
2014
Primary Use:
CURRENCY
9 mm
Coin Profile
Dash is an open source peer to peer cryptocurrency.
On top of Bitcoin’s feature set, it currently offers instant
transactions, private transactions and operates a self-
governing and self-funding model that enables the
Dash network to pay individuals and businesses to
perform work that adds value to the network. Dash’s
decentralized governance and budgeting system
makes it a decentralized autonomous organization.
Coins Outstanding:
Maximum Coins:
22 mm
POW or POS:
STAKE
Website:
https://www.dash.org/
DASH (DASH)
C$129 (US$97)
August 19, 2:15 pm
All figures in USD$, unless otherwise specified
Page 6 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.008
Current Mining Fee (USD):
LOG IN TO VIEW
August 19, 2019
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Bitvo.com
Technical Trading Score*:
Date Of Inception:
2016
Primary Use:
112 mm
Coins Outstanding:
Maximum Coins:
POW or POS:
WORK
Website:
https://ethereumclassic.org/
Ethereum Classic (ETC)
C$7.29 (US$5.45)
August 19, 2:15 pm
All figures in USD$, unless otherwise specified
Page 7 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.0016
Current Mining Fee (USD):
Coin Profile
Ethereum Classic is an open-source, public,
blockchain-based distributed computing platform
featuring smart contract (scripting) functionality. It
provides a decentralized Turing-complete virtual
machine, the Ethereum Virtual Machine (EVM), which
can execute scripts using an international network of
public nodes. ETC has a value token called "ether",
which can be transferred between participants or stored
in a cryptocurrency wallet.
LOG IN TO VIEW
NO MAX
SMART CONTRACTS
August 19, 2019
â– ETH Classic News:
•
No significant Ethereum Classic related news last week.
â– Trading History YTD:
•
After trading sideways for most of the first quarter of 2019, the price of
ETC has benefited from broader momentum in the cryptocurrency space,
trading generally positively from April through the end of June, before
correcting again over the summer months in terms of USD.
•
However, ETC has generally underperformed other major
cryptocurrencies with its price trending negatively throughout most of the
year to date in terms of BTC.
â– Current Environment:
•
The price of ETC rose in terms of USD and BTC to start the week last
week before falling again later in the week and overall ending the week
below where it started.
•
Volumes were lower week-over-week, averaging 84.9 million coins per
day compared to the previous week’s volumes of 86.6 million coins per
day.
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Bitvo.com
DISCLAIMER
The information contained in this report has been compiled by Bitvo Global Inc. (“Bitvo”) from sources believed to be reliable, but no
representation or warranty, express or implied, is made by Bitvo, its affiliates or any other person as to its accuracy, completeness or
correctness. All opinions and estimates contained in this report constitute Bitvo’s judgement as of the date of this report, are subject to
change without notice and are provided in good faith but without legal responsibility. Nothing in this report constitutes legal,
accounting or tax advice or individually tailored investment advice. This material is prepared for general circulation to clients and has
been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The Bull and Bear
symbols represent relatively favourable or unfavourable technical indicators, respectively, and the presence or absence of these
symbols and any language pertaining to these symbols does not represent any advice, representation or guidance from Bitvo as to
whether you should buy, sell or hold any cryptocurrency. The cryptocurrencies or services contained in this report may not be suitable
for you and it is recommended that you consult an independent advisor if you are in doubt about the suitability of such
cryptocurrencies or services. This report is not an offer to sell or a solicitation of an offer to buy any securities. Past performance is not
a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. The cryptocurrency market
is volatile and rapidly changing and, as a result, the latest published reports available to clients may not reflect recent material
changes. Bitvo reports are current only as of the date set forth on the reports. This report is not, and under no circumstances should
be construed as, a solicitation to act as securities broker or dealer in any jurisdiction by any person or company that is not legally
permitted to carry on the business of a securities broker or dealer in that jurisdiction. To the full extent permitted by law neither Bitvo
nor any of its affiliates, nor any other person, accepts any liability whatsoever for any direct or consequential loss arising from any use
of this report or the information contained herein. No matter contained in this document may be reproduced or copied by any means
without the prior consent of Bitvo.
Page 8 of 8
August 19, 2019
