Bitvo.com
Bitcoin (BTC)
C$12,520 (US$9,518)
July 28, 1:10 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):
~$0.92
Website:
https://bitcoin.org
July 28, 2019
All figures in USD$, unless otherwise specified
LOG IN TO VIEW
â– General Cryptocurrency News:
•
Curtin University, the largest university in Western Australia with over
58,000 students, announced the launch of a cryptocurrency PhD program.
The Cryptocurrency PhD Scholarship Fund will allow companies and
individuals to help PhD students studying blockchain, cybersecurity and
data analytics through cryptocurrency funding. Focused on cryptocurrency
and blockchain technology, the program will be entirely funded through
Bitcoin or Ether, which school officials say will help popularize
cryptocurrencies as a payment method.
•
Mark Zuckerberg, CEO of Facebook, tried to reassure governments and
central banks last week on a conference call where he vowed that Libra
will only debut when regulatory issues are fully ironed out.
•
The Union Bank of the Philippines has launched its own stable coin. The
coin, which is called PHX, is pegged against the Philippine Peso.
•
The Iranian government has authorized cryptocurrency mining as an
industrial activity. Entities engaged in the activity will be required to seek a
license from Iran’s Ministry of Industry, Mine and Trade.
â– BTC News:
•
In an interview with Bloomberg last week, Michael Novogratz, CEO of
Galaxy Digital, predicted that institutional interest will push the price of
Bitcoin back to its all-time highs of US$20,000 before the end of this year.
•
Grocery store chain Safeway announced it will start to give customers
Bitcoin as a “cash” back reward for shopping online with them, facilitated
by Bitcoin rewards shopping app Lolli.
•
The government of Venezuela is reportedly starting to accept Bitcoin for
aviation taxes for planes landing into the country.
â– Trading History YTD:
•
After a slow grind sideways for the first three months of 2019, the price of
BTC shot up at the beginning of April and climbed steadily throughout May
and June.
•
However, since the end of June, the price of BTC has come under
pressure, trending downward throughout the summer months.
Current Environment:
•
Downward pressure on the price of BTC continued last week, trending
downward for most of the week last week.
•
Volumes for the week averaged 1.6 million coins per day, which is lower
than the previous week’s volumes of 2.2 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$276 (US$210)
July 28, 1:10 pm
All figures in USD$, unless otherwise specified
Page 2 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.24
Current Mining Fee (USD):
LOG IN TO VIEW
July 28, 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:
•
More volatile than BTC last week, the price of ETH saw moves both up
and down, ending the week slightly below where it started in USD terms.
•
Given the price of BTC’s general decline last week, the price of ETH
outperformed, gaining ground in BTC terms.
•
Volumes for the week averaged 29.7 million coins per day, which is lower
than the previous week’s volumes of 38.9 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$0.41 (US$0.31)
July 28, 1:10 pm
All figures in USD$, unless otherwise specified
Page 3 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.0006
Current Mining Fee (USD):
LOG IN TO VIEW
100 Billion
â– XRP News:
•
In its Q2 report published last week, Ripple announced that it sold over
US$250 million in XRP in the second quarter of 2019.
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 has dropped sharply in July, resulting in it now trading
below where it started 2019.
•
Volumes for the week were lower, averaging 3.37 billion coins per day
compared to the previous week’s volumes of 4.79 billion coins per day.
July 28, 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:
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$119 (US$90)
July 28, 1:10 pm
All figures in USD$, 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
July 28, 2019
â– LTC News:
•
Litecoin is set to halve in approximately one week. This means that mining
rewards for completing a block will reduce from 25 LTC to 12.5 LTC.
â– Trading History YTD:
•
Having started 2019 as a relative outperformer in comparison to other
major cryptocurrencies, the price of LTC lost some momentum from April
onwards, but for a brief recovery in June.
•
Until the end of June, the price of LTC in USD terms 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 approximately flat on the year.
â– Current Environment:
•
Similar to other major cryptocurrencies, the price of LTC ended lower than
where it started in USD terms last week, after some volatile moves both
up and down.
•
In BTC terms, the price of LTC outperformed, ending the week ahead of
where it started.
•
Volumes last week averaged 28.9 million coins per day which was lower
than the previous week’s volume of 41.7 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:
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$405 (US$308)
July 28, 1:10 pm
All figures in USD$, 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
July 28, 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 tended 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 was relatively stable last week, ending the week
down slightly from where it started in USD terms.
•
However, given the negative price performance of BTC, the price of
BCH gained in BTC terms.
•
Volumes were lower week-over-week, averaging 4.6 million coins per
day compared to the previous week’s volumes of 6.2 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 has surpassed 10,000 active Android wallets in Venezuela, which is
around 30% of the nearly 35,000 active Android wallets globally.
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:
•
Negative price pressure on the price of Dash continued last week with its
price ending the week down both in USD and BTC terms.
•
Volumes were lower week-over-week, averaging 1.6 million coins per
day compared to the previous week’s volumes of 2.2 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$138 (US$105)
July 28, 1:10 pm
All figures in USD$, 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
July 28, 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$7.85 (US$5.97)
July 28, 1:10 pm
All figures in USD$, 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
July 28, 2019
â– ETH Classic News:
•
Ethereum Classic Labs incubator officially announced its accelerator
program to promote the development of products based on the Ethereum
Classic network.
•
According to the announcement, the first Cohort of Ethereum Classic Labs
Accelerate was formed during Q1 2019 while the second is expected to be
announced in Q3. Ethereum Classic Labs noted that Accelerate targets
two cohorts per year, with each having a different focus and theme.
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:
•
While the price of ETC felt negative pressure in USD terms, it
outperformed BTC, with its pricing increasing in BTC terms throughout the
week.
•
Volumes were lower week-over-week, averaging 84.3 million coins per
day compared to the previous week’s volumes of 102.8 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.
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
July 28, 2019
