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$9,773 (US$7,385)
December 9, 2019 2:00 pm
â– General Cryptocurrency News:
• A crypto wallet built by developers at SpaceChain was launched into space
aboard a Falcon 9 rocket last Thursday from Cape Canaveral, Florida. This
represents the first active Bitcoin node on the International Space Station.
For SpaceChain, the launch is a step forward in its mission of building out a
robust, decentralized blockchain infrastructure high above the Earth.
• The Libra Association made changes to its Articles of Association. A major
change was replacing "empowering billions of people through a new global
currency and financial ecosystem” to ”working with multilateral
organizations, the private sector, regulators and communities around the
world to create a lower cost, more accessible payment tool built on the Libra
Blockchain that will facilitate a more connected global payment system,
providing financial or other services to those most in need of such services”.
• A new study by Deutsche Bank suggested that cryptocurrencies may
replace fiat currencies entirely by 2030, satisfying an increasing demand for
anonymity and decentralized means of payment.
â– BTC News:
•
Trading commenced last night on two new Bakkt products, Bakkt Bitcoin
(USD) Monthly Options and Bakkt Bitcoin (USD) Cash-Settled Futures.
Bakkt’s monthly options product is the first regulated Bitcoin futures
contract regulated by the United States Commodity Futures Trading
Commission and will be used for hedging, trading and income generating
purposes.
â– Trading History YTD:
• After a stable start to 2019, the price of BTC shot higher during the second
quarter of the year, reaching a peak of almost US$14,000 at the end of
June.
• During the second half of 2019, the price of BTC trended negatively with
lower successive peaks and troughs as the coin continues to look for price
support.
• Despite the back-half negative trend, the price of BTC remains well up on
the year, currently trading at a level more than double where it started,
making it one of the best performing asset classes of 2019.
â– Current Environment:
• Last week was a relatively stable to positive week for the price of BTC,
which trended higher for most of the week.
• Volumes for the week were lower, averaging 2.34 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):
~$0.476
Website:
https://bitcoin.org
Coin Profile
Bitcoin is a decentralized coin enabling revolutionary
means to exchange value across the globe. It continues
to be the biggest and most influential coin, encouraging
peer-to-peer payment networks powered by its users
with no central or middle authority.
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
0.00
2,000.00
4,000.00
6,000.00
8,000.00
10,000.00
12,000.00
14,000.00
10
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-1
8
10
-Ja
n-1
9
10
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19
10
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-1
9
10
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-1
9
10
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-1
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10
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19
10
-Jul
-1
9
10
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-1
9
10
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19
10
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-1
9
10
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-1
9
Close
50 SMDA
December 9, 2019
Bitvo.com
Shane Thomson, CFA
Andrei Novikov
All figures in USD$, 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$196 (US$148)
December 9, 2019 2:00 pm
â– ETH News:
• Ethereum’s much-anticipated shift to Istanbul was completed over the weekend.
The system-wide update was enacted when the network passed block 9,069,000
on Saturday night.
• Vitalik Buterin claims the blockchains’ capacity now has the potential to reach
3,000 transactions per second.
• Bitvo supported the Ethereum hard fork, with systems unaffected over the
weekend and trading, depositing and withdrawing of Ether enabled following the
fork.
• The firewall the Chinese government uses to censor what citizens can view
within the country has blocked Etherscan.io .
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 onwards.
â– Current Environment:
• Similar to the price of BTC, the price of ETH in USD terms traded
sideways to slightly positive last week.
• In BTC terms, the price of ETH resumed a downward trend, following
a few weeks of outperformance.
• Volumes for the week averaged 44.44 million coins per day, which is
below previous week’s volumes of 52.90 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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50 SMDA
Bitvo.com
December 9, 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$0.30 (US$0.22)
December 9, 2019 2:00 pm
â– XRP News:
• In a somewhat puzzling move last week, Ripple moved approximately
1 billion XRP from its escrow account only to move it all back minutes
later.
• Ripple faced criticism earlier in the year for selling large amounts of
XRP, putting downward pressure on the price of XRP. Ripple
responded publicly to this criticism, stating it would reduce sales of
the token in the coming months, a promise it has so far made good
on.
• Japanese financial services firm SBI Holdings’ CEO Yoshitaka Kitao
revealed it is considering paying shareholder dividends in the form of
XRP tokens, following the same practice of its subsidiary
MorningStar. Kitao stated that the program will be opt-in and
launched during the fiscal year ending in March 2020.
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, 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:
• The price of XRP outperformed other major cryptocurrencies last week,
ending the week in positive territory both in USD and BTC terms.
• This positive price performance furthers the recent trend of
outperformance of the price of BTC experienced since the end of
September.
• Volumes for the week averaged 5.05 billion coins per day, which is
higher than the previous week’s volumes of 3.45 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
$0.60
10
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50 SMDA
December 9, 2019
Bitvo.com
Shane Thomson, CFA
Andrei Novikov
All figures in USD$, 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$277 (US$209)
December 9, 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 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 in USD terms last week.
• In terms of BTC, the price of BCH continued to underperform, trading
negatively for most of the week last week.
• Volumes were lower week-over-week, averaging 5.43 million coins per
day compared to the previous week
‘s 7.66 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
$600
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50 SMDA
December 9, 2019
Bitvo.com
Shane Thomson, CFA
Andrei Novikov
All figures in USD$, 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$60 (US$45)
December 9, 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:
• Similar to other major altcoins, the price of LTC traded sideways last
week in USD terms and negatively in BTC terms.
• Overall, it was a relatively stable week across the cryptocurrency
landscape, with major coins demonstrating stability as they look for price
direction.
• Volumes last week averaged 57.21 million coins per day which is lower
than the previous week’s volume of 60.60 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
$160
10
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-1
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10
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-1
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-1
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50 SMDA
December 9, 2019
Bitvo.com
Shane Thomson, CFA
Andrei Novikov
All figures in USD$, 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$68 (US$51)
December 9, 2019 2:00 pm
â– DASH News:
• Dash Core Group has proposed several radical changes, including
decreased inflation rates, elimination of proof-of-work and introduction
of proof-of-stake consensus methods. Such changes are subject to
community discussion and masternode vote before being approved.
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 ground sideways last week, both in USD and BTC
terms.
• Overall, it ended the week slightly up in USD terms and slightly down in
BTC terms.
• Volumes were lower week-over-week, averaging 2.34 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
$20
$40
$60
$80
$100
$120
$140
$160
$180
$200
10
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10
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9
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50 SMDA
December 9, 2019
Bitvo.com
Shane Thomson, CFA
Andrei Novikov
All figures in USD$, 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 9, 2019
Ethereum Classic (ETC)
C$5.06 (US$3.82)
December 9, 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 was relatively stable last week, trading sideways for
most of the week and finishing slightly negatively from where it started,
both in USD and BTC terms.
• Volumes were lower week-over-week, averaging 121.9 million coins
per day compared to the previous week’s volumes of 138.2 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
$1
$2
$3
$4
$5
$6
$7
$8
$9
$10
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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 9, 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
