Bitvo.com
Bitcoin (BTC)
C$14,443 (US$10,950)
June 24, 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):
~$2 .28
Website:
https://bitcoin.org
June 24, 2019
All figures in USD$, unless otherwise specified
LOG IN TO VIEW
â– General Cryptocurrency News:
•
Facebook released a white paper last week detailing plans for its own
cryptocurrency, Libra, and blockchain-based infrastructure. The
cryptocurrency, which is expected to be available some time in 2020, will
be a form of stable coin, backed by a basket of assets including multiple
fiat currencies.
•
Libra will be governed by a Swiss-based not-for-profit consortium call the
Libra Association, which also includes high profile technology and payment
processing partners such as MasterCard, PayPal, Visa, eBay and Uber.
The association will have approximately 100 members in total, each
investing a minimum of US$10 million, which secures one vote on the Libra
council. Facebook has stated it will limit itself to one vote on the council.
•
Big Four auditing firm PwC released a cryptocurrency auditing software
solution last week. The tool, which has been added to the PwC Halo
auditing suite, can be used to “provide assurance services for entities
engaging in cryptocurrency transactions”. According to PwC, the Halo suite
will allow for the provision of independent evidence of private-public key
pairing, as well as the gathering of information about transactions and
balances from blockchains.
â– BTC News:
•
The price of Bitcoin continued its upward surge last week breaking through
US$11,000 only 24 hours after the important US$10,000 level was
breached.
•
Google searches for “Bitcoin” saw an increase last week, amidst
Facebook’s announcement and the continued increase in the price of
Bitcoin.
•
However, Google searches remain well below historic highs at only 10% of
what they were in late 2017 suggesting that retail buyers’ FOMO has not
yet become a major driver of the recent price momentum.
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.
•
With the exception of a slight corrections, positive momentum in the price of
BTC has continued since.
Current Environment:
•
The price of BTC started the week last week stable to slightly down before
resuming positive momentum and breaking through the important US
$10,000 level towards the end of the week.
•
Volumes for the week were lower, averaging 2.0 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$408 (US$309)
June 24, 2:10 pm
All figures in USD$, 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 24, 2019
â– ETH News:
•
The price of Ether hit a 10-month high last week amidst a continued rally
in cryptocurrencies globally.
•
Grayscale commenced OTC trading of its Ether-based security last week,
an open-ended trust that holds Ether. This product allows traders to gain
exposure to Ether without actually holding the cryptocurrency.
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 generally
trending down since the end of February.
â– Current Environment:
•
The price of ETH was stable to start the week last week before positive
momentum resumed mid-week in USD terms.
•
In BTC terms, the price of ETH was generally static throughout the week,
ending the week slightly lower than where it started.
•
Volumes for the week averaged 26.0 million coins per day, which is lower
than the previous week’s volumes of 32.6 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$0.61(US$0.46)
June 24, 2:10 pm
All figures in USD$, 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:
•
Major money transmission network, MoneyGram, announced a
partnership with Ripple to use XRP for cross-border payments and
foreign exchange settlements. Specifically, by using XRP, the process
of sending money in one currency to be instantly settled in the
destination currency will be faster than with fiat or other digital assets.
According to MoneyGram’s chairman and CEO, Alex Holmes, the
ability to instantly settle funds in this manner could “dramatically
streamline our global liquidity management”.
•
New Jersey-based SendFreind launched its XRP powered payments
service last week, which allows Filipinos based in the United States to
reduce the cost and time associate with sending funds abroad.
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:
•
While the price of XRP rose slightly in USD terms last week, it
continued its downward trend in BTC terms.
•
Volumes for the week were higher, averaging 4.29 billion coins per day
compared to the previous week’s volumes of 3.40 billion coins per day.
June 24, 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$620 (US$470)
June 24, 2:10 pm
All figures in USD$, 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 24, 2019
â– BCH News:
•
Bitcoin Cash’s previously announced development fund, which will be
donated in full to the development teams of Bitcoin ABC, Bitcoin
Unlimited, BCHD and Bcash, has reached 95% of its fundraising goal of
800 BCH as of last week. The fund was hoping to raise 800 BCH by
August 1, 2019.
•
Bitcoin Cash and Litecoin continue to jockey for the position of fourth
largest cryptocurrency in terms of market capitalization with Bitcoin Cash
surpassing Litecoin again last week with a market capitalization of US
$8.4 billion versus Litecoin’s US$8.3 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 tended sideways since the beginning of April both
in USD and BTC terms.
â– Current Environment:
•
The price of BCH continued to mirror that of BTC, trending stable for the
first half of last week before resuming an upward trend in terms of USD.
•
In terms of BTC, the price of BCH continued to trend negatively last week
as BTC outperformed.
•
Volumes were higher week-over-week, averaging 4.3 million coins per
day compared to the previous week’s volumes of 4.1 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$176 (US$134)
June 24, 2:10 pm
All figures in USD$, 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 24, 2019
â– LTC News:
•
The Litecoin Foundation announced via a blog post on June 18th that it
has entered into a partnership that will allow it to release physical
cryptocurrency debit card.
•
Per the post, the debit card dubbed “BlockCard” will allow users spend
cryptocurrency funds both online and in physical store locations around
the world.
â– Trading History YTD:
•
Having started 2019 as a relative outperformer in comparison to other
major cryptocurrencies, LTC 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 was more volatile than most major cryptocurrencies last
week, moving both up and down versus the stable to upward trend others
experienced.
•
Overall, the price of LTC ended the week approximately where it started in
USD terms and down in BTC terms.
•
Volumes last week averaged 30.2 million coins per day which was lower
than the previous week’s volume of 37.0 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:
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$231 (US$175)
June 24, 2:10 pm
All figures in USD$, 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 24, 2019
â– DASH News:
•
No significant Dash related news last week.
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:
•
The price of Dash was relatively stable last week, trending slightly up in
USD terms and slightly negatively in BTC terms.
•
Volumes for the week were lower compared to the previous week’s
average, averaging 2.0 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$12.20 (US$9.25)
June 24, 2:10 pm
All figures in USD$, 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 24, 2019
â– ETH Classic News:
•
Ethereum Classic’s Atlantis hard fork has been officially set to occur mid-
September 2019 at block 8,772,000 on the blockchain, according to the
Ethereum Classic Improvement Protocol (ECIP) finalization call on June
20
th
.
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:
•
The price of ETC rallied last week in USD terms while continuing to trend
negatively in terms of BTC.
•
Volumes were higher week-over-week, averaging 84.0 million coins per
day compared to the previous week’s volumes of 79.1 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 24, 2019
