Bitvo.com
Bitcoin (BTC)
C$13,623 (US$10,281)
August 26, 3:30 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):
~$0.750
Website:
https://bitcoin.org
August 26, 2019
All figures in USD$, unless otherwise specified
LOG IN TO VIEW
â– General Cryptocurrency News:
•
With Facebook facing regulatory scrutiny of its stable coin, Libra, other
governments and corporate entities are pushing forward with their own
version of a stable coin. Walmart, the People’s Bank of China and, most
recently, Binance, have all stated they are considering their own coins.
•
Last week Binance introduced Venus, an open blockchain project that will
focus on developing localized stable coins globally. Binance stated it
believes it’s in a strong position due to its existing public chain technology
and wide user base.
•
Despite regulatory pressure, Facebook continues to push ahead in the
blockchain and cryptocurrency space with Facebook-owned messaging
service WhatsApp said to be in early stage talks with fintech firms and a
state-owned bank in Indonesia to support payments through digital wallets
in the region. Sources told Reuters that negotiations are currently
underway with transportation booking service Go-Jek, mobile payments
provider DANA, fintech startup OVO and state-owned bank Mindri, which
operates a digital wallet service.
â– BTC News:
•
New research suggests that Bitcoin’s true market dominance may have
been underestimated. Mainstream crypto data aggregators claim the
world’s largest digital currency has a 70% market share based on metrics
such as market capitalization. However, analysts at Arcane Research
believe that Bitcoin’s dominance is more than 90% based on trading
volume, which they suggest is a more meaningful measure than market
capitalization as the latter does not account for liquidity.
•
Bitcoin continues to demonstrate safe haven tendencies with its price rising
Friday as trade war tensions between the Unites States and China
continued to escalate.
â– Trading History YTD:
•
The price of BTC has experienced tremendous positive momentum on the
year, increasing from US$3,700 to start the year to approximately US
$10,300 today, making it one of the best performing assets of 2019.
â– Current Environment:
•
The price of BTC continued to look for direction, falling to start the week
before a volatile weekend that saw movements both up and down.
•
Price support seems to be experienced at US$10,000 with the price of BTC
dipping below that for brief periods last week before being bid back up
above what is seemingly an important psychological barrier.
•
Volumes for the week averaged 1.6 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
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$249 (US$188)
August 26, 3:30 pm
All figures in USD$, unless otherwise specified
Page 2 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.088
Current Mining Fee (USD):
LOG IN TO VIEW
August 26, 2019
â– ETH News:
•
No significant Ether related news last week.
â– Trading History YTD:
•
The price of ETH commenced the year relatively stable before
accelerating in May and then falling throughout the summer months.
•
While the price of ETH has given up most of its year to date gains, it
remains in positive territory on the year in USD terms.
•
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 was volatile both in BTC and USD terms last week,
experiencing sharp movements both up and down.
•
Overall, the price of ETH ended down on the week.
•
Volumes for the week averaged 34.6 million coins per day, which is
higher than the previous week’s volumes of 33.9 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$0.36 (US$0.27)
August 26, 3:30 pm
All figures in USD$, 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:
•
RippleNet will allow Xendpay to provide money transfer services
beyond the United States dollar. Xendpay will use Ripple’s pre-existing
network of banks and other financial partners to facilitate money
transfers in XRP.
•
Transacting in XRP allows Xendpay to greatly speed up transaction
completion times from three to four days using fiat currency to
completion in under an hour when using 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:
•
The price of XRP fell to start the week last week before recouping
loses in the back half of the week.
•
Overall, the price of XRP ended the week down in both USD and BTC
terms.
•
Volumes for the week averaged 3.88 billion coins per day, which is
lower than the previous week’s volumes of 4.24 billion coins per day.
August 26, 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$408 (US$308)
August 26, 3:30 pm
All figures in USD$, 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 26, 2019
â– BCH News:
•
Fourth ranked Bitcoin Cash continues to gain ground in terms of
market capitalization over fifth place Litecoin following Litecoin’s
halving two weeks ago. Bitcoin Cash now sits firmly ahead of Litecoin
at a market capitalization of US$5.6 billion versus Litecoin’s US$4.7
billion.
•
Twitter handle @Bitcoin, which despite its name has previously
promoted and supported Bitcoin Cash, suddenly and without
explanation changed course last week, now throwing support behind
Bitcoin and leaving industry participants struggling to figure out the
rationale for the change.
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:
•
Similar to other major cryptocurrencies, the price of BCH was volatile
last week, experiencing sharp movements both up and down.
•
The price of BCH ended the week down both in USD and BTC terms.
•
Volumes were lower week-over-week, averaging 4.2 million coins per
day compared to the previous week’s volumes of 4.7 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$97 (US$73)
August 26, 3:30 pm
All figures in USD$, 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 26, 2019
â– LTC News:
•
As it is intended to do, Litecoin’s recent halving has reduced mining power
designated to mining Litecoin transactions by over 25% since the halving
occurred approximately two weeks ago. On August 5, 2019, Litecoin
reduced its mining reward from 25 LTC to 12.5 LTC causing this reduced
interest in mining LTC transactions.
•
Litecoin’s mining difficulty, a coded-in measure of how hard it is to solve
the mathematical puzzles used to write blocks on the network, has
dropped from 15.93 million on August 4, 2019, one day before the halving,
to 11.40 million on August 22, 2019, based on data from mining pool
BTC.com. The hashing power on the network has also fallen by 28%.
â– Trading History YTD:
•
Having started 2019 as a relative outperformer in comparison to other
major cryptocurrencies, the price of LTC lost 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 was volatile last week, experiencing sharp movements
both up and down throughout the week.
•
After movements both up and down, the price of LTC ended the week
down slightly in USD terms but up slightly in terms of BTC.
•
Volumes last week averaged 33.6 million coins per day which was lower
than the previous week’s volume of 37.5 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:
•
The Dash community has announced it is organizing a Dash convention
in Europe this fall.
•
The Dash Convention Europe was created and supported with input from
several community groups and will be on September 28th and 29th near
Zurich, Switzerland and in Munich for Oktoberfest on September 30th.
•
The convention will be proceeded by a few co-working days to foster
Dash collaboration.
â– Trading History YTD:
•
After a generally stable start to the year, the price of Dash increased in
USD terms from April through June before declining throughout the
summer months. Accounting for movements both up and down, the price
of Dash in USD terms remains in positive territory for the year.
•
However, given Dash’s underperformance versus BTC, the price of Dash
has trended negatively since the end of March in BTC terms.
â– Current Environment:
•
The price of Dash was relatively stable last week versus an otherwise
volatile cryptocurrency price backdrop.
•
The price of Dash ended down slightly on the week in both USD and BTC
terms.
•
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$121 (US$91)
August 26, 3:30 pm
All figures in USD$, 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 26, 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$9.65 (US$7.28)
August 26, 3:30 pm
All figures in USD$, 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.
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NO MAX
SMART CONTRACTS
August 26, 2019
â– ETH Classic News:
•
The price of Ethereum Classic soared last week during a time when
other major cryptocurrency prices fell.
•
This resulted in Ethereum Classic gaining ground in terms of rank order
by market capitalization, moving up from 20th position to rank as
number 16, with a market capitalization of US$821 million.
•
When looking for rationale as to why this increase occurred, industry
participants point to the following: Ethereum Classic’s Atlantis fork is
scheduled for next month, resulting in increased security and
compatibility with Ethereum; London-based token investment group
North Block Capital joined the Studio Program of Ethereum Classic
Labs; jointly, Ethereum Classic Labs and North Block Capital will work
together to expand token sales and marketing initiatives into Asia; and
the annual Ethereum Classic Summit event is scheduled for October,
3rd and 4th, 2019 in Vancouver, Canada. It is not unusual for
cryptocurrencies to rise in price in the run-up to an industry event or
conference.
â– Trading History YTD:
•
After trading sideways for most of the first quarter of 2019, the price of
ETC benefited from broader spring 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:
•
Bucking general negativity in the cryptocurrency space last week, the
price of ETC increased quite materially throughout the week last week
both in USD and BTC terms.
•
While this price increase is material for the week, it did not reverse the
longer term negative trend the price of ETC has experienced so far in
2019.
•
Volumes were higher week-over-week, averaging 134.5 million coins
per day compared to the previous week’s volumes of 84.9 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
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 26, 2019
