Bitvo.com
Bitcoin (BTC)
C$13,581 (US$10,315)
September 9, 2019 12:30 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):
~$0.790
Website:
https://bitcoin.org
September 9, 2019
All figures in USD$, unless otherwise specified
LOG IN TO VIEW
â– General Cryptocurrency News:
•
A senior Apple executive hinted that the tech giant is keeping a close eye
on developments in the cryptocurrency industry. Speaking at an event in
San Francisco last week, Jennifer Bailey, the vice president of Apple Pay,
said “We’re watching cryptocurrency. […] We think it’s interesting. We think
it has interesting long-term potential”.
•
Galaxy Digital received approval from the Financial Industry Regulatory
Authority to facilitate public offerings of tokens.
•
Binance, with the help of Paxos, is going to release its own stable coin.
â– BTC News:
•
Bakkt started accepting deposits and withdrawals for its physically backed
Bitcoin futures product last week and also announced that all Bitcoin
deposited at the Bakkt Warehouse is protected by a US$125 million
insurance policy. Bakkt’s Bitcoin futures product is proposed to launch later
this month on September 23rd, 2019.
•
Twitter’s CEO, Jack Dorsey, shot down rumors of a Twitter-coin stating that
he would rather back Bitcoin as the “native currency for the internet”.
•
Argentina continues to experience periotic premiums added to the price of
Bitcoin as its government attempts to restrict outflows of the Argentine
Peso. At times Bitcoin has traded for a premium of greater than 10% in
comparison to prices quoted globally.
•
Bitmain announced Friday that it is launching two new models for its
Antminer Bitcoin mining devices. The first is a more powerfull Antminer
S17e, which has a hash rate (mining power) of 64 terahertz per second and
a power efficiency of 45 joules per TH. The second is the more budget-
friendly T17e, which provides the same hash rate as the current model of
53 TH/s and power efficiency of 55 J/TH but at a lower price point.
â– Trading History YTD:
•
The price of BTC was relatively stable for the first quarter of the year,
grinding sideways for the first three months of 2019.
•
The second quarter saw the price of BTC shoot up dramatically before
correcting at the start of the third quarter.
•
Overall, the price of BTC has experienced tremendous positive momentum
on the year, increasing from US$3,700 to start the year to almost
US$10,300 today, making it one of the best performing assets of 2019.
â– Current Environment:
•
The price of BTC was relatively stable last week. Movements both up and
down achieved the net result of a slight increase on the week.
•
Volumes for the week were similar, averaging 1.6 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:
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$238 (US$181)
September 9, 2019 12:30 pm
All figures in USD$, unless otherwise specified
Page 2 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.129
Current Mining Fee (USD):
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â– ETH News:
•
Ethereum’s testnet activation of the Istanbul hard fork has been
pushed back again, this time from last week to early October,
according to the community manager of the Ethereum Foundation,
Hudson Jameson.
â– Trading History YTD:
•
The price of ETH commenced the year relatively stable before
accelerating in May and then falling throughout the summer months.
•
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:
•
Similar to the price of BTC, the price of ETH ground sideways last
week.
•
The net result of movements both up and down was the price of ETH
exiting the week approximately where it began, both in BTC and USD
terms.
•
Volumes for the week averaged 36.4 million coins per day, which is
higher than the previous week’s volumes of 35.7 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.
September 9, 2019
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$0.34 (US$0.26)
September 9, 2019 12:30 pm
All figures in USD$, unless otherwise specified
Page 3 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.0003
Current Mining Fee (USD):
LOG IN TO VIEW
100 Billion
â– XRP News:
•
•
A petition for Ripple to increase the release of XRP has started
gaining traction. The idea behind the movement is that mass adoption
can not happen while coins sit idle in wallets, primarily Ripple’s
escrow wallet.
This petition comes one week after XRP holders reacted negatively to
Ripple’s continued release of XRP tokens, which they feel has placed
a cap on the price of XRP.
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.
â– Current Environment:
•
The price of XRP experienced both positive and negative momentum
last week before ending the week up slightly in USD terms and down
slightly in BTC terms.
•
Volumes for the week averaged 4.07 billion coins per day, which is
higher than the previous week’s volumes of 4.02 billion coins per day.
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
September 9, 2019
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$403 (US$306)
September 9, 2019 12:30 pm
All figures in USD$, unless otherwise specified
Page 4 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.0011
Current Mining Fee (USD):
LOG IN TO VIEW
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 since the beginning of April in
USD terms and negative in BTC terms over the same period.
â– Current Environment:
•
The price of BCH outperformed other major cryptocurrencies last
week, particularly in the latter half of the week.
•
As a result, the price of BCH ended the week higher in USD and BTC
terms.
•
Volumes were similar week-over-week, averaging 4.5 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.
September 9, 2019
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$92 (US$70)
September 9, 2019 12:30 pm
All figures in USD$, unless otherwise specified
Page 5 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.035
Current Mining Fee (USD):
LOG IN TO VIEW
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 in April onwards,
but for a brief recovery in June.
•
Until the end of June, the price of LTC in USD terms has 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 down on the year.
â– Current Environment:
•
The price of LTC was stable for the first half of the week last week before
trending up in the latter half of the week both in USD and BTC terms.
•
Volumes last week averaged 38.9 million coins per day which was higher
than the previous week’s volume of 38.1 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.
September 9, 2019
â– DASH News:
•
Cryptocurrency ATM and merchant solution provider IQ CashNow is
integrating Dash to their network of over 1,000 Dash-accepting merchants
and over 250 ATMs. IQ CashNow operates primarily in Europe, across
Austria, Spain, Greece, Italy and Turkey, and also has operations in the
United States and Ecuador.
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 throughout the
summer months.
•
Accounting for movements both up and down, the price of Dash in USD
terms remains in positive territory for the year.
•
However, given Dash’s underperformance versus BTC, the price of Dash
has trended negatively since the end of March in BTC terms.
â– Current Environment:
•
The price of Dash ground sideways for the first half of the week last week
before experiencing significant increases in USD and BTC terms in the
latter half of the week.
•
Volumes were similar week-over-week, averaging 1.6 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$115 (US$87)
September 9, 2019 12:30 pm
All figures in USD$, unless otherwise specified
Page 6 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.006
Current Mining Fee (USD):
LOG IN TO VIEW
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
September 9, 2019
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$8.65 (US$6.57)
September 9, 2019 12:30 pm
All figures in USD$, unless otherwise specified
Page 7 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.002
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
â– ETH Classic News:
•
Ethereum Classic Labs, a core Ethereum Classic development and
accelerator organization, announced partnerships with social media
dApp iZbreaker and blockchain infrastructure developer Second State.
•
Per the announcement, the partnership with Second State “will bring
high-impact enhancements into the ETC ecosystem”, is intended to
create an open-source toolchain and runtime software that powers the
next generation of Ethereum-compatible blockchains.
•
The partnership with social media dApp iZbreaker, an invite-only,
secure community for connecting people with a three-degree network of
friends-of-friends, entails Ethereum Classic Labs providing development
resources to build the social media dApp and use its technical and
marketing expertise to create and launch a new decentralized
application.
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 over the summer months 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 lost some of its recent momentum last week, ending
down on the week in USD and BTC terms.
•
As a result of the above noted underperformance, the market
capitalization of ETC fell to below that of Dash’s last week, after rising
above it in the prior two weeks.
•
Volumes were lower week-over-week, averaging 91.2 million coins per
day compared to the previous week’s volumes of 110.4 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.
September 9, 2019
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
September 9, 2019
