Bitvo.com
Bitcoin (BTC)
C$15,562 (US$11,721)
August 06, 1:30 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):
~$1.46
Website:
https://bitcoin.org
August 06, 2019
All figures in USD$, unless otherwise specified
LOG IN TO VIEW
â– General Cryptocurrency News:
•
Bitcoin SV’s recent hard fork resulted in the formation of three chains after
a large 210 megabyte block was mined. On August 3, 2019, Bitcoin SV
nodes divided into three groups, making the network split into three
separate chains with 65% of nodes located on the intended new chain,
while 17% remain stuck on the 210 MB block and 18% have not even
upgraded and are on the old pre-hard fork chain.
•
Potentially positive government announcements came out of the Unites
States and Australia last week with respect to cryptocurrency. United
States Senator, Michael Crapo, emphasized that he feels the U.S. should
play a key role in cryptocurrency development stating “I want the U.S. to
stay at the forefront of this technology, which both has incredible potential
and incredible risk.”
•
Additionally, Steve Bannon, whose influence helped Donald Trump win the
White House, publicly disagreed with the president last week on
cryptocurrencies. “Cryptocurrencies have a big future,” Bannon said in an
interview with CNBC on Friday. “They could be a very important part going
forward, particularly in this global populist revolt.”
•
In Australia, a government memorandum stated that the government is
considering banning cash payments over $10,000 but contemplating
carving cryptocurrency out of this regulation.
â– BTC News:
•
Bitcoin.com has appointed Stefan Rust as the company’s new chief
executive officer as Roger Ver leaves the post, according to an
announcement. Prior to becoming Bitcoin.com’s CEO, Rust served as the
company’s Global Head of Corporate and Business Development. Ver will
continue to be involved with the company as the organization’s executive
chairman.
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 almost US
$12,000 today, making it the best performing asset of 2019.
Current Environment:
•
Following a volatile July, the price of BTC regained positive momentum,
increasing steadily throughout the week last 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$303 (US$228)
August 06, 1:30 pm
All figures in USD$, unless otherwise specified
Page 2 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.24
Current Mining Fee (USD):
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August 06, 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 stabilizing to falling slightly in June and
July, 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 also rose steadily throughout the week in USD terms.
•
However, the price of ETH continued to underperform BTC, continuing to
fall relative to the world’s top ranked coin in terms of market capitalization.
•
Volumes for the week averaged 27.4 million coins per day, which is lower
than the previous week’s volumes of 29.7 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:
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$0.42 (US$0.31)
August 06, 1:30 pm
All figures in USD$, unless otherwise specified
Page 3 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.0006
Current Mining Fee (USD):
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100 Billion
â– XRP News:
•
Amidst speculation that potential competing coins such as Libra will
limit XRP’s growth and use cases, the price of XRP has
underperformed other major coins so far in 2019, resulting in a
widening of market capitalization between XRP and other top
currencies, Bitcoin and Ether.
•
XRP’s market capitalization has dropped to below US$15 billion,
versus Bitcoin’s at over US$210 billion and Ether’s at over US$25
billion.
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 benefited last week from the broader rally in
cryptocurrencies, increasing in USD terms throughout the week.
•
However, it continued to underperform other major coins, falling
throughout the week in BTC terms.
•
Volumes for the week were lower, averaging 2.93 billion coins per day
compared to the previous week’s volumes of 3.37 billion coins per day.
August 06, 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$449 (US$338)
August 06, 1:30 pm
All figures in USD$, unless otherwise specified
Page 4 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.005
Current Mining Fee (USD):
LOG IN TO VIEW
August 06, 2019
â– BCH News:
•
The market capitalization of Bitcoin Cash over took that of Litecoin for
the second time so far in 2019.
•
With a current market capitalization of US$6.03 billion, Bitcoin Cash is
now slightly ahead of Litecoin with a market capitalization of US$5.84
billion.
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:
•
The price of BCH rose steadily last week in USD terms, while
continuing to underperform BTC and falling steadily in BTC terms.
•
Volumes were similar week-over-week, averaging 4.6 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:
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$122 (US$92)
August 06, 1:30 pm
All figures in USD$, unless otherwise specified
Page 5 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.0731
Current Mining Fee (USD):
LOG IN TO VIEW
August 06, 2019
â– LTC News:
•
Litecoin reduced its block reward for miners by half on Monday August 5,
2019.
•
The Litecoin blockchain reached the trigger block height of 1,680,000 at
10:16 UTC on Monday, according to the Litecoin explorer from mining pool
operator BTC.com.
•
The event marks a major threshold for miners, as the Litecoin network is
designed to reduce its mining rewards by half every 840,000 blocks
(roughly every four years).
•
For this “halving,” the mining reward for every block has been reduced
from the previous 25 LTC to 12.5 LTC.
•
Amidst the halving, the market capitalization of Litecoin slipped below that
of Bitcoin Cash for the first time in many months.
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 continued to underperform last week, moving both up
and down throughout the week versus most other coin’s steady upward
trajectory.
•
While the price of LTC ended the week up in USD terms, it continued to
trade down in BTC terms.
•
Volumes last week averaged 30.3 million coins per day which was higher
than the previous week’s volume of 28.9 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.
â– DASH News:
•
•
Day to day acceptance of Dash continues to demonstrate growth in
inflationary plagued Latin American countries. The Dash LatAm tracker
shows that transactions have surpassed 1,100 over the past 28 days with
an average of 79.6 transactions per day over the same time period.
Additionally, over the past 14 days, a median transaction amount of $5.02
USD per transaction was reached. There are now 301 active out of 616
total Dash-accepting merchants across the continent, up from 280 active
merchants out of 616 total a month ago.
Brazilian payment and service gateway Kamoney has committed to
integrating Dash, which will expand the ability for Brazilians to use and
live off Dash on a day-to-day basis by paying bills in Dash via the
Brazilian Barcode system (Boleto) or by making everyday purchases via
gift cards and a limit release debit card.
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 saw movements both up and down last week. Overall,
the price of Dash experienced more positive than negative momentum
and ended the week up in USD terms.
•
However, the price appreciation Dash experienced was less than that of
BTC on a relative basis and, as a result, the price of Dash continued to
trend negatively in 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$139 (US$105)
August 06, 1:30 pm
All figures in USD$, unless otherwise specified
Page 6 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.0142
Current Mining Fee (USD):
LOG IN TO VIEW
August 06, 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$7.87 (US$5.93)
August 06, 1:30 pm
All figures in USD$, unless otherwise specified
Page 7 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.0023
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 06, 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 in July in terms of USD.
•
However, ETC has generally underperformed other major cryptocurrencies
with its price trending negatively throughout most of the recent rally in
terms of BTC.
â– Current Environment:
•
The price of ETC continued to underperform last week, trading sideways
for most of the week before appreciating over the weekend.
•
Volumes were lower week-over-week, averaging 71.6 million coins per
day compared to the previous week’s volumes of 84.3 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 06, 2019
