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$10,835 (US$8,208)
October 15, 2019 2:00 pm
â– General Cryptocurrency News:
• Pending court approval, it appears Jennifer Robertson, the widow of
QuadrigaCX founder Gerald Cotton, will be required to return over $12
million to Ernest Young who is acting as bankruptcy trustee for QuadrigaCX.
• The Internal Revenue Service (IRS) released a draft report that requests
individuals and corporations come forward and report any cryptocurrency
positions held during the most recent tax season.
• The IRS also released guidance on how traders should properly value forks
that create new digital assets.
â– BTC News:
• The Oxford English dictionary added the term ”Satoshi”, defined as ”the
smallest monetary unit in the Bitcoin cryptocurrency, and is named after
Satoshi Nakamoto, the—probably pseudonymous—developer(s) of Bitcoin.”
• The U.S. Securities and Exchange Commission (SEC) has declined yet
another Bitcoin ETF-filing. This time the NYSE Arca/Bitwise ETF filing was
denied on the same grounds as the Winklevoss rejection, which was a
technical issue around the rules of exchanges in the U.S. Exchange Act.
• While Bitcoin ETFs in the United States have faced rejections from the
SEC, Canadian initiatives are still up in the air. Specifically, Canadian firm
3iQ Corp. has been awaiting its decision from the Ontario Securities
Commission since June 2019 on ”The Bitcoin Fund”.
• Cryptocurrency investment and infrastructure platform Layer1, which plans
to build a wind-powered Bitcoin mining facility in West Texas, has secured
US$50 million in a Series A funding round. Reported by Fortune last week,
investors will include venture capitalist and PayPal co-founder Peter Thiel,
along with other industry players.
• United States Representative Warren Davidson (R) has said that Facebook
adding Bitcoin to its Calibra wallet would be a ”way better idea” than
creating its new cryptocurrency currency, Libra.
â– Trading History YTD:
• Since the end of June, the price of BTC has traded sideways to negative
with successive peaks achieving lower highs and support levels declining to
approximately US$8,000.
â– Current Environment:
• The price of BTC shot up at the beginning of last week but then declined
throughout the week. Accounting for movements both up and then down, the
price of BTC ended approximately flat on the week.
• Volumes for the week were similar, averaging 2.0 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):
~$0.476
Website:
https://bitcoin.org
Coin Profile
Bitcoin is a decentralized coin enabling revolutionary
means to exchange value across the globe. It continues
to be the biggest and most influential coin, encouraging
peer-to-peer payment networks powered by its users
with no central or middle authority.
October 15, 2019
Bitvo.com
Shane Thomson, CFA
403.407.0046
All figures in USD$, 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$239 (US$181)
October 15, 2019 2:00 pm
â– ETH News:
• The Ethereum Foundation announced last week that it is
supporting UNICEF, the United Nations Children’s Fund, in
launching a cryptocurrency fund to support open-source
technology ”benefiting children and young people around the
world.” UNICEF thus became the first U.N. organization ”to
hold and make transactions in cryptocurrency,” namely
Bitcoin and Ether.
• InfiniGold launched the Perth Mint Gold Token on the
Ethereum blockchain. The company is effectively tokenizing
the Perth Mint, with the gold held there guaranteed by the
government.
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 since the end of February.
â– Current Environment:
• The price of ETH ground sideways last week, ending the week
approximately where it began after some movements both up and
down.
• Volumes for the week averaged 42.7 million coins per day, which is
slightly above than the previous week’s volumes of 37.2
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. Ether is the cryptocurrency generated by and
used on the Ethereum platform.
Bitvo.com
October 15, 2019
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
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$0.38 (US$0.29)
October 15, 2019 2:00 pm
â– XRP News:
• Xpring made an investment into cryptocurrency wallet provider BRD
to enable users to hold, purchase, sell and spend XRP tokens
through the wallet. BRD, a mobile cryptocurrency wallet, with a
reported user base of 2.5 million.
• United Kingdom-based financial software firm Finastra announced it
will start using RippleNet to facilitate cross-board payments. Over 200
financial institutions on RippleNet will have access to Finastra’s
network of banks, allowing mutual customers to access and partner
with each other. Additionally, Finastra’s customers will have the
option to use on-demand liquidity, which leverages Ripple’s
cryptocurrency XRP for cross-border payments.
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 since the beginning of 2019.
• However, for the first time in 2019, XRP has begun to outperform other
major cryptocurrencies recently increasing in both USD and BTC
terms over the past month.
â– Current Environment:
• The price of XRP continued its recent outperformance last week,
increasing for most of the week in USD and BTC terms.
• Volumes for the week averaged 4.97 billion coins per day, which is
slightly higher than the previous week’s volumes of 4.65 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
October 15, 2019
Bitvo.com
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
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$293 (US$222)
October 15, 2019 2:00 pm
â– BCH News:
• No significant BCH 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 both USD and BTC terms.
â– Current Environment:
• The price of BCH declined early in the week last week and rebounded
in the latter part of the week, resulting in it ending the week
approximately where it began both in USD and BTC terms.
• Volumes were slightly higher week-over-week, averaging 5.9 million
coins per day compared to the previous week’s 5.8 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):
~$0.0011
Website:
Coin Profile
Bitcoin Cash is peer-to-peer electronic cash for the
Internet. It is fully decentralized, with no central bank and
requires no trusted third parties to operate. Bitcoin Cash
is the continuation of the Bitcoin project as peer-to-peer
digital cash. It is a fork of the Bitcoin blockchain ledger,
with upgraded consensus rules that allow it to grow and
scale.
October 15, 2019
Bitvo.com
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
All figures in USD$, 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$72 (US$55)
October 15, 2019 2:00 pm
â– LTC News:
• Litecoin celebrated its eighth birthday last week on October 13th.
• Founder of Litecoin, Charlie Lee, took to Twitter to celebrate tweeting
“Litecoin network has been up and running continuously for the past 8
years with zero downtime. And in that span of time, over
$500,000,000,000 worth of LTC have been transacted. Looking forward
to the next 8 years and more!”
â– Trading History YTD:
• Having started 2019 as a relative outperformer in comparison to other
major cryptocurrencies, the price of LTC lost momentum in 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 now down on the year in BTC
terms.
â– Current Environment:
• Like most major cryptocurrencies, the price of LTC continued to trend
slightly negatively last week, trading down on the week both in USD and
BTC terms.
• Volumes last week averaged 47.0 million coins per day which was lower
than the previous week’s volume of 50.0 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):
~$0.035
Website:
https://litecoin.com/
Coin Profile
Litecoin is a peer-to-peer cryptocurrency and
open source software project released under the
MIT/X11 license. Creation and transfer of coins is
based on an open source cryptographic protocol and is
not managed by any central authority. The coin was
inspired by, and in technical details is nearly identical to,
Bitcoin.
October 15, 2019
Bitvo.com
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
All figures in USD$, 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$94 (US$72)
October 15, 2019 2:00 pm
â– DASH News:
• According to data from BitInfoCharts, a trend is developing whereby
active Dash addresses are now consistently greater than Litecoin
active addresses.
• This continues an ongoing reversal trend, with Dash and Litecoin
trading places for active addresses frequently over the past six
months. The change in the trend originally occurred in mid-January of
this year, with Dash overtaking Litecoin for a 20-day streak. Prior to
that point, Dash had only passed Litecoin a total of six days for years
prior, dating all the way back to summer of 2017.
• Currently, Dash lists 57,993 active addresses compared to Litecoin’s
39,772.
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 now
in negative territory for the year both in USD and BTC terms.
â– Current Environment:
• The price of Dash ground sideways last week in both USD and BTC
terms.
• The coin traded in a tight band of ~US$2 with movements both up and
down within that range resulting in the price of Dash being flat on the
week.
• Volumes were similar week-over-week, averaging 2.0 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):
~$0.006
Website:
Coin Profile
Dash is an open source peer to peer cryptocurrency. On
top of Bitcoin’s feature set, it currently offers instant
transactions, private transactions and operates a self-
governing and self-funding model that enables the Dash
network to pay individuals and businesses to perform
work that adds value to the network. Dash’s
decentralized governance and budgeting system makes
it a decentralized autonomous organization.
October 15, 2019
Bitvo.com
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
All figures in USD$, 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
October 15, 2019
Bitvo.com
Ethereum Classic (ETC)
C$6.02 (US$4.56)
October 15, 2019 2:00 pm
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 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 throughout the week last week, both
in USD and BTC terms.
• Volumes were higher week-over-week, averaging 106.2 million coins
per day compared to the previous week’s volumes of 91.9 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.
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
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
October 15, 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
