All figures in USD$, unless otherwise specified
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Page 1 of 8
Bitcoin (BTC)
C$9,
742 (US$7,322)
December 2, 2019 2:00 pm
â– General Cryptocurrency News:
• In an effort to increase efficiencies and reduce costs, HSBC plans to convert
US$20 billion worth of assets onto a blockchain custodian platform by March
2020. Known as Digital Vault, the platform will allow HSBC customers to see
real-time records of their securities bought and sold in the private market.
•
•
Germany’s new legislation for 2020 will allow banks to sell and store
cryptocurrencies for their clients.
Despite taking a hardline stance on cryptocurrencies, India announced
that it
is working on a national blockchain strategy to accelerate the
technology’s
adoption. Officials stated that they believe blockchain has
the potential to
transform a number of sectors, including governance,
banking, finance and
cybersecurity
â– BTC News:
• 3iQ Corp. filed its preliminary prospectus for
The Bitcoin Fund. The
company expects the fund to launch to investors by January 2020.
• Scientist at the University in Denmark now say that previous estimates of
CO2 emitted by Bitcoin mining
were overestimated. They say previous
estimates used a blanket assumption for carbon emissions in China, but
when broken down to more specific areas and the power sources they use,
they see more renewable energy sources than the original calculations
accounted for.
â– Trading History YTD:
• Trading patterns for the price of BTC in 2019 can be divided into three
segments.
• First, the price of BTC traded sideways from the beginning of 2019 through
to April 1st.
• Second, the price of BTC experienced significant positive momentum from
April 1st through the end of June.
• Since the end of June, the price of BTC has traded sideways to negative
with positive price momentum continually countered by downward pressure
and the price of BTC looking to find a level it can support.
â– Current Environment:
• The price of BTC regained some positive momentum last week, increasing
for the first half of the week before dropping back and stabilizing in the
second half of the week.
• Overall, the price of BTC ended the week slightly up.
• Volumes for the week were higher, averaging 3.14 million coins per day.
Technical Trading Score*:
LOG IN TO VIEW
Date Of Inception:
2009
Primary Use:
CURRENCY
Coins Outstanding:
Maximum Coins:
18mm
21mm
POW or POS:
WORK
Current Mining Fee (USD):
~$0.476
Website:
https://bitcoin.org
Coin Profile
Bitcoin is a decentralized coin enabling revolutionary
means to exchange value across the globe. It continues
to be the biggest and most influential coin, encouraging
peer-to-peer payment networks powered by its users
with no central or middle authority.
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
0.00
2,000.00
4,000.00
6,000.00
8,000.00
10,000.00
12,000.00
14,000.00
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-1
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-1
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-1
9
11
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-1
9
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50 SMDA
December 2, 2019
Bitvo.com
Shane Thomson, CFA
Andrei Novikov
All figures in USD$, unless otherwise specified
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Page 2 of 8
Ether (ETH)
C$
198 (US$149)
December 2, 2019 2:00 pm
â– ETH News:
• Cryptocurrency exchange Upbit experienced a security breach last week that
caused it to lose 342,000 Ether. The exchange has said the losses will be
covered by its own inventory.
• Crypto advisory firm Akomba Labs in partnership with BoXroute Labs have
successfully completed a test that they say shows they can double the speed of
the Ethereum blockchain. The current lack of scalability for Ethereum speed of
transactions has been considered the major hurdle for Ethereum.
• Virgil Griffith, an Ethereum research scientist, is facing federal charges for
allegedly helping North Korea avoid sanctions using cryptocurrencies and
blockchain technologies.
â– Trading History YTD:
• The price of ETH commenced the year relatively stable before
accelerating in May and then falling July onwards.
• 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 from February through September.
• We have recently seen the price trend versus BTC reverse with the
price of ETH in BTC terms gaining momentum for most of the past
two months.
â– Current Environment:
• The price of ETH was relatively stable last week.
• After experiencing small movements both up and down, the price of
ETH ended the week approximately flat both in USD and BTC terms.
• Volumes for the week averaged 52.90 million coins per day, which is
above previous week’s volumes of 52.58 million coins per
day.
Technical Trading Score*:
LOG IN TO VIEW
Date Of Inception:
2014
Primary Use:
SMART CONTRACTS
Coins Outstanding:
107mm
Maximum Coins:
NO MAX
POW or POS:
WORK
Current Mining Fee (USD):
~$0.129
Website:
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.
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
90.0
$0
$50
$100
$150
$200
$250
$300
$350
$400
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-1
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50 SMDA
Bitvo.com
December 2, 2019
Shane Thomson, CFA
Andrei Novikov
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Page 3 of 8
XRP
C$0.
29 (US$0.22)
December 2, 2019 2:00 pm
â– XRP News:
• Ripple finalized its US$50 million investment into MoneyGram. This
was the final US$20 million payment after having already committed
US$30 million. MoneyGram uses an XRP powered system to help
facilitate cross border money transfers.
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.
• Overall, the price of XRP is down on the year in USD terms and, as a
result of the above noted underperformance versus other
cryptocurrencies, the price of XRP has declined steadily in terms of
BTC from January through October.
• However, similar to the price of ETH, the price of XRP has
outperformed BTC over the past two months, resulting in the price of
XRP gaining momentum versus BTC since the end of September.
â– Current Environment:
• Similar to other major altcoins, the price of XRP trended sideways to
slightly negative last week, both in USD and BTC terms.
• Volumes for the week averaged 3.45 billion coins per day, which is
lower than the previous week’s volumes of 5.20 billion coins per day.
Technical Trading Score*:
LOG IN TO VIEW
Date Of Inception:
2012
Primary Use:
CURRENCY
Coins Outstanding:
Maximum Coins:
99.99 Billion
100 Billion
POW or POS:
CORRECTNESS
Current Mining Fee (USD):
~$0.0003
Website:
https://ripple.com/
Coin Profile
XRP is the decentralized native currency employed by
Ripple. Ripple is a settlement system, currency
exchange and remittance network created by Ripple
Labs Inc. It is built upon a distributed open source
internet protocol, and supports tokens representing fiat
currency or cryptocurrency. The company purports to
enable "secure, instantly and nearly free global financial
transactions of any size with no chargebacks."
All figures in USD$, unless otherwise specified
0.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00
40.00
45.00
50.00
$0.00
$0.10
$0.20
$0.30
$0.40
$0.50
$0.60
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9
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-1
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19
11
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9
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11
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-1
9
11
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-1
9
Close
50 SMDA
December 2, 2019
Bitvo.com
Shane Thomson, CFA
Andrei Novikov
All figures in USD$, unless otherwise specified
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Page 4 of 8
Bitcoin Cash (BCH)
C$
286 (US$215)
December 2, 2019 2:00 pm
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 to slightly negative since the
beginning of April in USD terms and negatively in BTC terms over the
same period.
â– Current Environment:
• The price of BCH traded sideways for most of the week last week,
ending the week up slightly in USD and BTC terms.
• Volumes were lower week-over-week, averaging 7.66 million coins per
day compared to the previous weeks 10.4 million coins per day.
Technical Trading Score*:
LOG IN TO VIEW
Date Of Inception:
2017
Primary Use:
CURRENCY
Coins Outstanding:
18mm
Maximum Coins:
21 mm
POW or POS:
WORK
Current Mining Fee (USD):
~$0.0011
Website:
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.
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
10.0
11.0
12.0
13.0
14.0
$0
$100
$200
$300
$400
$500
$600
$700
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9
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50 SMDA
December 2, 2019
Bitvo.com
Shane Thomson, CFA
Andrei Novikov
All figures in USD$, unless otherwise specified
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Page 5 of 8
Litecoin (LTC)
C$
61 (US$46)
December 2, 2019 2:00 pm
â– LTC News:
• No significant Litecoin related news last week
â– Trading History YTD:
• Having started 2019 as a relative outperformer in comparison to other
major cryptocurrencies, the price of LTC lost momentum April onwards,
but for a brief recovery in June.
• The price of LTC in USD terms has traded in positive territory for all of
2019 year to date.
• However, as a result of the above noted recent underperformance, the
price of LTC is down on the year in BTC terms.
â– Current Environment:
• Underperformance in the price of LTC continued last week.
• During a week in which most major cryptocurrencies were relatively flat
on the week, the price of LTC dropped last week, both in USD and BTC
terms.
• Volumes last week averaged 60.60 million coins per day which is higher
than the previous week’s volume of 59.83 million coins per day.
Technical Trading Score*:
LOG IN TO VIEW
Date Of Inception:
2011
Primary Use:
CURRENCY
Coins Outstanding:
Maximum Coins:
62mm
84 mm
POW or POS:
WORK
Current Mining Fee (USD):
~$0.035
Website:
https://litecoin.com/
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.
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
$0
$20
$40
$60
$80
$100
$120
$140
$160
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11
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8
11
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19
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-1
9
11
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-1
9
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-1
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11
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19
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-Jul
-1
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-1
9
11
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-1
9
Close
50 SMDA
December 2, 2019
Bitvo.com
Shane Thomson, CFA
Andrei Novikov
All figures in USD$, unless otherwise specified
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Page 6 of 8
DASH (DASH)
C$
69 (US$52)
December 2, 2019 2:00 pm
â– DASH News:
• Ryan Taylor, CEO of Dash Core Group, stated in a recent interview
that they are looking into borrowing block propagation techniques from
Bitcoin and Bitcoin Cash scaling research to further improve Dash’s
efficiencies.
• The ability of all nodes on the network to efficiently receive and view a
block full of transactions (block propagation) is a major bottleneck for
cryptocurrency scaling. Previous research from Arizona State
University demonstrated that Dash can currently scale to handle 10MB
blocks, which is equivalent to 40MB on the Bitcoin network due to
Dash’s faster block times.
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 July onwards.
• Accounting for movements both up and down, the price of Dash is in
negative territory for the year both in USD and BTC terms.
â– Current Environment:
• The price of Dash rebounded for the first half of the week last week before
falling back in the second half of the week.
• Accounting for movements both up and down, the price of Dash ended
the week up both in USD and BTC terms
• Volumes were lower week-over-week, averaging 3.1 million coins per
day.
Technical Trading Score*:
LOG IN TO VIEW
Date Of Inception:
2014
Primary Use:
CURRENCY
Coins Outstanding:
9 mm
Maximum Coins:
22 mm
POW or POS:
STAKE
Current Mining Fee (USD):
~$0.006
Website:
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.
0.0
0.4
0.8
1.2
1.6
2.0
2.4
2.8
3.2
3.6
4.0
4.4
$0
$50
$100
$150
$200
$250
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9
11
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-1
9
Close
50 SMDA
December 2, 2019
Bitvo.com
Shane Thomson, CFA
Andrei Novikov
All figures in USD$, unless otherwise specified
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Page 7 of 8
Bitvo.com
December 2, 2019
Ethereum Classic (ETC)
C$
5.12 (US$3.85)
December 2, 2019 2:00 pm
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 benefited from broader spring momentum in the cryptocurrency
space, trading generally positively from April through the end of June,
before correcting again July onwards 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 traded sideways for most of the week last week, both
in USD and BTC terms.
• Volumes were lower week-over-week, averaging 138.2 million coins
per day compared to the previous week’s volumes of 166.2 million
coins per day.
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.
0.0
50.0
100.0
150.0
200.0
250.0
$0
$2
$4
$6
$8
$10
$12
$14
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9
Close
50 SMDA
Shane Thomson, CFA
Andrei Novikov
Technical Trading Score*:
LOG IN TO VIEW
Date Of Inception:
2016
Primary Use:
SMART CONTRACTS
Coins Outstanding:
112MM
Maximum Coins:
NO MAX
POW or POS:
WORK
Current Mining Fee (USD):
~$0.002
Website:
https://ethereumclassic.org/
Bitvo.com
December 2, 2019
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
