Bitvo.com
Bitcoin (BTC)
C$12,526 (US$9,338)
June 17, 2:10 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:
21 mm
POW or POS:
WORK
Current Mining Fee (USD):
~$2 .28
Website:
https://bitcoin.org
June 17, 2019
All figures in USD$, unless otherwise specified
LOG IN TO VIEW
â– General Cryptocurrency News:
•
After a slight pull back at the beginning of June, cryptocurrency prices
regained the momentum experienced in May, rising almost universally
throughout the week last week.
•
Facebook is expected to reveal details on its own cryptocurrency, a stable
coin, tomorrow. The company has reportedly secured backing from other
technology and payments giants including Uber, Spotify, and Visa.
•
Historically, an issue with stable coins has been that the companies
behind them have done little to prove that the stable coin is fully backed
by the fiat currency it is supposed to be pegged to. Having a Fortune 500
company with deep pockets guaranteeing a stable coin could have
meaningful implications for the crypto world, as well as potentially being a
determent to stable coins currently on the market.
â– BTC News:
•
The price of Bitcoin hit a 13-month high last week as cryptocurrency prices
trended positively across the board, a continuation of positive price
momentum experienced throughout the month of May.
•
Bitcoin breached US$9,000 for the second time this year leaving traders
thinking about the important US$10,000 psychological mark.
•
This increase in price came on increased volume with exchange traded
volume approaching US$20 billion in a 24-hour period at its peak last
week. It also surpassed one million daily active addresses, a level not seen
since late November 2017.
•
Twitter is reportedly looking to Bitcoin as the potential “future of internet
money,” with CEO Jack Dorsey reiterating his faith in the cryptocurrency
last week and beginning to make cryptocurrency hires at his payments
company, Square, including former Google product director Steve Lee.
•
Bakkt announced it will begin testing its physically delivered Bitcoin futures
product on July 22, 2019.
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.
•
Positive momentum continued throughout May, before the price pulled
back slightly in June.
â– Current Environment:
•
The price of BTC resumed positive momentum last week, rising steadily
over the course of the week and topping previous highs reached in May.
•
Volumes for the week were slightly lower, averaging 2.3 million coins per
day compared to the previous week’s volumes of 2.5 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.
Bitvo.com
Technical Trading Score*:
Date Of Inception:
2014
Primary Use:
SMART CONTRACTS
Coins Outstanding:
106mm
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$367 (US$274)
June 17, 2:10 pm
All figures in USD$, unless otherwise specified
Page 2 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.165
Current Mining Fee (USD):
LOG IN TO VIEW
June 17, 2019
â– ETH News:
•
Two blockchain-focused startups, crypto payments firm CLIC
Technology and blockchain infrastructure provider and B2B platform
Opporty, are teaming up to enable Amazon purchases with Ethereum. In
a press release published Friday, the pair announced they are
developing an app-like browser extension that allows Amazon customers
to pay for items with Ether, even though Amazon itself does not accept
cryptocurrencies.
•
The Google Cloud team has integrated Chainlink’s oracle middleware
with its BigQuery enterprise cloud data warehouse, allowing for an on-
chain and cloud-based interaction with Ethereum decentralized
applications and smart contracts. A blockchain oracle is a system that
provides the necessary external data (i.e. the variables to be evaluated)
to trigger the execution of a smart contract when the original terms of the
contract are met.
â– Trading History YTD:
•
After declining in January, the price of ETH has experienced positive
momentum for most of 2019.
•
However, with the recent positive performance of BTC, ETH has
underperformed BTC, with the price of ETH in BTC terms trending down
since the end of February.
â– Current Environment:
•
Similar to BTC, the price of ETH rose steadily throughout the week last
week.
•
However, BTC continued to outperform ETH, resulting in the price of ETH
in BTC terms trending down in the latter half of the week last week.
•
Volumes for the week averaged 32.6 million coins per day, which is lower
than the previous week’s volumes of 34.6 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:
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$0.58 (US$0.43)
June 17, 2:10 pm
All figures in USD$, unless otherwise specified
Page 3 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.0070
Current Mining Fee (USD):
LOG IN TO VIEW
100 Billion
â– XRP News:
•
Ripple has opened an office in Brazil with the goal of increasing use of
XRP throughout South America.
•
Caution to all XRP traders using the GateHub XRP wallet. GateHub
warned last week that there is a phishing scam campaign targeting its
cryptocurrency wallet users.
•
According to the official announcement, GateHub’s wallet users are being
sent malicious emails from addresses that look like they are from
GateHub: “@gatehub.com” and “@gatehub.net”.
•
The emails state that private keys have allegedly been compromised due
to insufficient security precautions and instruct users to transfer funds to a
“secure” wallet, which is owned by the attacker.
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’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 participated in last week’s cryptocurrency rally, rising
slightly but steadily throughout the week.
•
XRP continued to underperform other major cryptocurrencies, with its
price in BTC terms trending negatively throughout the week.
•
Volumes for the week were lower, averaging 3.40 billion coins per day
compared to the previous week’s volumes of 4.64 billion coins per day.
June 17, 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$179 (US$134)
June 17, 2:10 pm
All figures in USD$, unless otherwise specified
Page 5 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.0562
Current Mining Fee (USD):
LOG IN TO VIEW
June 17, 2019
â– LTC News:
•
Litecoin continues to prove to be an outperformer amongst major
cryptocurrencies with its price continuing to accelerate last week.
•
The price of Litecoin is up over 330% so far in 2019.
â– Trading History YTD:
•
Having started 2019 as a relative outperformer in comparison to other
major cryptocurrencies, LTC has lost some momentum in April and May
before regaining ground in June.
•
The price of LTC in USD terms has traded positively for most of the year
in 2019.
â– Current Environment:
•
The price of LTC shot up early in the week last week before stabilizing
and pulling back slightly later in the week.
•
Overall, the price of LTC ended the week up in USD terms and
approximately flat in BTC terms as the price of BTC outperformed LTC in
the latter half of the week.
•
Volumes last week averaged 37.0 million coins per day which was lower
than the previous week’s volume 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:
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$580 (US$432)
June 17, 2:10 pm
All figures in USD$, unless otherwise specified
Page 4 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.0051
Current Mining Fee (USD):
LOG IN TO VIEW
June 17, 2019
â– BCH News:
•
%LWFRLQ&DVKFRQWLQXHVWRXQGHUSHUIRUPRWKHUPDMRUFU\SWRFXUUHQFLHV
UHVXOWLQJLQLWIDOOLQJIDUWKHUEHKLQGLQWHUPVRIPDUNHWFDSLWDOL]DWLRQ2QFH
ODUJHUWKDQ/LWHFRLQ¶V%LWFRLQ&DVK¶VPDUNHWFDSLWDOL]DWLRQQRZVLWVILUPLQ
ILIWKSODFHDW86 ELOOLRQZLWKWKHJDSZLGHQLQJVLJQLILFDQWO\EHWZHHQ
IRXUWKSODFH/LWHFRLQDW86ELOOLRQ
â– Trading History YTD:
v
6RPHZKDWVLPLODUWRWKHWUHQGLQWKHSULFHRI%7&WKHSULFHRI%&+
JURXQGVLGHZD\VIRUWKHILUVWTXDUWHURI EHIRUHH[SHULHQFLQJDSULFH
VSLNHLQHDUO\$SULO
v
7KHSULFHRI%&+KDVWHQGHGVLGHZD\VVLQFHWKHEHJLQQLQJRI$SULOERWK
LQ86’DQG%7&WHUPV
â– Current Environment:
•
The price of BCH dropped sharply last Monday, following which it
experienced a volatile though mostly negative week, resulting in it losing
ground versus Litecoin, falling behind it once again in terms of market
capitalization.
•
Volumes were lower week-over-week, averaging 4.1 million coins perday
compared to the previous week’s volumes of 4.8 million coins perday.
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:
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$213 (US$159)
June 17, 2:10 pm
All figures in USD$, unless otherwise specified
Page 6 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.0212
Current Mining Fee (USD):
LOG IN TO VIEW
June 17, 2019
â– DASH News:
•
The Dash iOS wallet is now also compatible with Apple watch Series 4
Watch OS5, allowing its wearers to display a QR code on the face of the
watch that can be scanned to receive funds.
•
Hundreds of Dash masternodes were taken offline last week due to new
performance requirements as the Dash network tightened its standards for
masternodes.
â– Trading History YTD:
•
After a generally negative 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:
•
Similar to other major cryptocurrencies, the price of Dash ground steadily
higher last week in USD terms.
•
Dash continued to underperform BTC with the price of Dash in BTC terms
holding for the first half of the week before falling again in the second half
of the week.
•
Like most other major cryptocurrencies, volumes for the week were lower
compared to the previous week’s average, averaging 2.3 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
Technical Trading Score*:
Date Of Inception:
2016
Primary Use:
110 mm
Coins Outstanding:
Maximum Coins:
POW or POS:
WORK
Website:
https://ethereumclassic.org/
Ethereum Classic (ETC)
C$11.81 (US$8.80)
June 17, 2:10 pm
All figures in USD$, unless otherwise specified
Page 7 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.0024
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
June 17, 2019
â– ETH Classic News:
•
No significant ETC 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 onwards 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 benefited from the broader rally in cryptocurrency
prices last week, resulting in a steady price increase in terms of USD, its
price in BTC terms continued to slide throughout the week.
•
Volumes were lower week-over-week, averaging 79.1 million coins per
day compared to the previous week’s volumes of 106.2 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
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
June 17, 2019
