Bitvo.com
Bitcoin (BTC)
C$13,507 (US$10,202)
September 16, 2019 1:00 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):
~$0.688
Website:
https://bitcoin.org
September 16, 2019
All figures in USD$, unless otherwise specified
LOG IN TO VIEW
â– General Cryptocurrency News:
•
Facebook’s David Marcus tried to dispel government concerns surrounding
Libra by stating that Libra would be fully backed by fiat currency and
therefore it would not be creating new money as every Libra would have a
reserve of fiat behind it.
•
Facebook’s comment came after French Finance Minister, Le Maire, stated
that France would look to block the deployment of Libra in the EU. Le Maire
added that the Union needs to consider creating its own digital currency.
•
Russian bank Sberbank bought US$15 million of debt from Trafigura using
the Hyperledger Blockchain. Sberbank said it took one second to settle the
transaction on the blockchain.
•
Cryptocurrency and blockchain monitoring start up Elliptic announced the
successful raise of US$23 million last week.
•
According to data from Bitfury’s blockchain analytics platform Crystal, the
United Kingdom, the United States, Hong Kong and Singapore have the
largest number of registered digital currency exchanges.
â– BTC News:
•
In an interview with crypto news network Blocktv on September 13, the
famous American venture capital investor Tim Draper reiterated his bullish
view on Bitcoin, forecasting the soon-to-come mass global adoption will
push the price of Bitcoin higher. Draper stated in the interview that a price of
"US$250,000 [per coin] means that Bitcoin would then have about a 5%
market share of the currency world and I think that maybe understating the
power of Bitcoin."
•
The computing power dedicated to mining Bitcoin has hit yet another new
high, suggesting that more than 600,000 powerful new machines may have
come online in the last three months. According to data from crypto mining
pool BTC.com, Bitcoin’s two-week average hash rate hit 85 exahashes per
second (EH/s) last Friday. Meanwhile, mining difficulty also adjusted to a
new record of nearly 12 trillion. Both figures have jumped approximately
60% over the past three months.
â– Trading History YTD:
•
Since the end of June, the price of BTC has traded sideways to slightly
negative with successive peaks achieving lower highs but finding support in
troughs around US$10,000.
â– Current Environment:
•
The price of BTC continued to trade sideways last week, ending the week
slightly below where it began after movements both up and down.
•
Volumes for the week were similar, averaging 1.4 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.
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$255 (US$193)
September 16, 2019 1:00 pm
All figures in USD$, 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:
•
Harbor has now tokenized real estate funds worth US$100 million
on the Ethereum blockchain.
•
With this move, Harbor has pivoted from helping companies issue
security tokens to helping them tokenize existing securities.
Announced today, the start up has created tokens on the
Ethereum blockchain representing the shares of four real estate
funds worth US$100 million.
•
The move is intended to make these private securities easier to
trade for the 1,100 investors that hold them, along with 17 broker-
dealers and 17 placement agents that work with the funds’
manager, iCap Equity.
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:
•
The price of ETH traded sideways for the first half of the week
before jumping up in the second half of the week, both in USD and
BTC terms.
•
Volumes for the week averaged 35.3 million coins per day, which is
lower than the previous week’s volumes of 36.4 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 16, 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$0.26)
September 16, 2019 1:00 pm
All figures in USD$, 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:
•
Following continued releases of XRP tokens from Ripple’s escrow
wallet combined with poor XRP price performance year to date in
2019, there is now talk of an XRP fork led by @Crypto_Bitlord, a
Twitter account with over 100,000 followers.
•
Last week, Coinme, a global leader in cryptocurrency ATMs,
announced that it had secured US$1.5 million in funding from Ripple’s
Xpring and the Blockchain Finance Fund to further develop its
cryptocurrency ATM network in the United States and international
markets. The investment suggests that XRP may soon be available
across Coinme’s network of over 2,600 kiosks.
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 trended down for the first half of last week before
recovering in the second half.
•
Overall, the price of XRP ended the week approximately where it
started both in USD and BTC terms.
•
Volumes for the week averaged 3.78 billion coins per day, which is
lower than the previous week’s volumes of 4.07 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 16, 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$402 (US$304)
September 16, 2019 1:00 pm
All figures in USD$, 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:
•
HTC announced that its new phone, the Exodus 1, will support Bitcoin
Cash.
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:
•
Similar to other major cryptocurrencies, the price of BCH looked for
direction last week, ending the week approximately where it began
both in USD and BTC terms.
•
Volumes were similar week-over-week, averaging 4.2 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.
September 16, 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$94 (US$71)
September 16, 2019 1:00 pm
All figures in USD$, 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 is now down on the year both in USD and BTC terms.
â– Current Environment:
•
The price of Litecoin traded sideways last week, ending the week slightly
up both in USD and BTC terms.
•
Volumes last week averaged 35.8 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.
September 16, 2019
â– DASH News:
•
Cryptocurrency hardware wallet Safepal integrated Dash support. SafePal
provides a discounted storage option for cryptocurrency users with a
regular price of US$59.99 and a current sale price of US$39.99, a lower
entry point than typical costs by competing hardware wallets such as
Ledger and Trezor. The hardware wallet announced last week the addition
of Dash, joining the current lineup of BTC, ETH, BNB, LTC, BCH, and
1,000+ ERC20 tokens.
•
NOWPayments, a cryptocurrency point-of-sale device, integrated Dash
payment support last week. NOWPayments provides a zero-fee merchant
solution that offers features such as auto coin conversion, instant
withdrawals, 24/7 support, stable coins, security, simple API, regulation
compliance, and smooth integration.
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 declined to start the week last week before spiking
mid-week and then declining again later in the week. Overall the price of
Dash ended up on the week both in USD and BTC terms.
•
Volumes were similar week-over-week, averaging 1.4 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$119 (US$90)
September 16, 2019 1:00 pm
All figures in USD$, 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 16, 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$8.22 (US$6.21)
September 16, 2019 1:00 pm
All figures in USD$, 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:
•
The team behind Ethereum Classic has activated the Atlantis hard fork
aimed at the improvement of the altcoin’s functionality and compatibility
with Ethereum.
•
Ethereum Classic successfully performed the Atlantis hard fork in
accordance with previously estimated time of between September 12
and September 13, 2019 at block height 8,772,000.
•
The currency was up a modest 0.09% following its Atlantis hard fork
later the same day.
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 generally trended down last week both in USD and
BTC terms.
•
Volumes were lower week-over-week, averaging 77.0 million coins per
day compared to the previous week’s volumes of 91.2 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.
September 16, 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 16, 2019
