Bitvo.com
Bitcoin (BTC)
C$14,189 (US$10,644)
September 03, 1:45 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):
~$0.874
Website:
https://bitcoin.org
September 03, 2019
All figures in USD$, unless otherwise specified
LOG IN TO VIEW
â– General Cryptocurrency News:
•
As students head back to school today, a new study published by Coinbase
highlights that academic interest in cryptocurrency and blockchain is
increasing. Of the world’s top 50 universities (according to the U.S. News &
World Report ranking), 56% have blockchain or crypto classes available.
This is up from 42% at this time last year.
•
Facebook hired a Washington-based lobbying firm last week as it attempts
to ease regulatory pressure surrounding the company’s proposed stable
coin, Libra. The lobbying firm is said to deliver support on “issues related to
blockchain policy,” according to the lobbying registration documents that
were filed with United States Congress.
â– BTC News:
•
The online delivery site and mobile application for Burger King Germany is
now accepting Bitcoin as a payment option for over 600 locations
throughout the country.
•
Additionally, PwC Luxembourg, a subsidiary of the world’s second largest
professional services firm, announced it will start accepting Bitcoin
payments starting October 1st, 2019. The firm stated in a press release last
week that the move shows the firm’s commitment to comply with the needs
of clients as well as support the growing crypto ecosystem.
•
Following another delay in the United States Securities and Exchange
Commission (SEC) approval of Bitcoin exchange-traded funds (ETFs),
asset managers VanEck and SolidX plan to offer a limited version of their
Bitcoin ETF to institutional investors. According to a report by the Wall
Street Journal, the investment management firms are planning to start
selling on September 5th, 2019 under SEC Rule 144A, which allows the
sale of privately placed securities to “qualified institutional buyers”.
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 over US$10,600
today, making it one of the best performing assets of 2019.
â– Current Environment:
•
The price of BTC ground sideways throughout most of the week last week
before shooting up over the tail end of the North American long weekend.
•
Volumes for the week were lower, averaging 1.5 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:
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$241 (US$180)
September 03, 1:45 pm
All figures in USD$, unless otherwise specified
Page 2 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.129
Current Mining Fee (USD):
LOG IN TO VIEW
September 03, 2019
â– ETH News:
•
Parity, a blockchain infrastructure company that runs the core of the
Ethereum network, is delaying the Ethereum planned hard fork until
September 6th, 2019. According to Parity core developer Wei Tang,
the organization needs two more weeks before developers can
proceed in selecting a block number for the Istanbul fork.
•
Islamic finance and Sharia advisory firm, Amanie Advisors,
announced that the firm has collaborated with the Ethereum
Foundation to establish the platform’s compliance with Sharia
religious law. As a result of the collaboration, the company released
a paper with the main purpose of illustrating Ethereum’s compliance
with Islamic morals, which concedes a Sharia endorsement of the
project as well as its coin, Ether.
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 dropped sharply to start the week last week before
stabilizing and then recovering over the weekend.
•
Overall, the price of ETH ended the week down in USD terms and,
given its underperformance relative to BTC, fell steadily throughout
the week in BTC terms.
•
Volumes for the week averaged 35.7 million coins per day, which is
higher 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$0.35 (US$0.26)
September 03, 1:45 pm
All figures in USD$, 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:
•
Data from Whale Alert, a live tracker of cryptocurrency transactions,
indicated that Ripple has transferred 500 million XRP tokens, the
equivalent of approximately US$130 million, from its escrow wallet to
Ripple. This is one of many large transfers of XRP detected to and
from Ripple and the escrow wallet.
•
MorningStar Japan, a subsidiary of financial services giant SBI
Holdings, announced that it will offer its shareholders dividends in the
form of XRP tokens. According to the statement, the Japanese
company will offer 30 XRP to its shareholders if they hold a minimum
of 100 shares by September 30th, 2019.
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:
•
After dropping sharply to start last week, the price of XRP was
relatively stable to trending slightly positive throughout the balance of
the week.
•
Overall, the price of XRP ended the week down both in USD and BTC
terms.
•
Volumes for the week averaged 4.02 billion coins per day, which is
higher than the previous week’s volumes of 3.88 billion coins per day.
September 03, 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$405 (US$304)
September 03, 1:45 pm
All figures in USD$, 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
September 03, 2019
â– BCH News:
•
Bitcoin Cash faced fresh criticism last week after one of its lead
developers, Amaury Séchet, indicated in a Reddit post that the
cryptocurrency’s network was unable to process blocks larger than 2
megabytes.
•
Séchet is the lead developer of Bitcoin ABC, the first incarnation of the
Bitcoin Cash network.
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 fell throughout the first half of the week before
rebounding throughout the second half of the week last week in USD
terms.
•
In terms of BTC, the price of BCH continued to underperform and fell
steadily throughout the week.
•
Volumes were higher week-over-week, averaging 4.5 million coins per
day compared to the previous week’s volumes of 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.
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$69)
September 03, 1:45 pm
All figures in USD$, 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
September 03, 2019
â– LTC News:
•
The Litecoin Foundation announced last week that it has joined hands
with UNICEF’s Kid Power programme to enable financial empowerment in
the classroom. “We are excited to work with UNICEF Kid Power to give
the next generation of kids the tools they need to build healthy financial
foundations and give back to their communities along the way” said
Litecoin founder Charlie Lee.
•
The programme will launch during the 2019 Litecoin Summit as part of the
Las Vegas Blockchain week in October 2019. Over the two-day event,
attendees will be invited to visit the UNICEF booth to “unlock up to
125,000 Kid Power Coins, which the Litecoin Foundation will underwrite
for Las Vegas schools”.
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:
•
Similar to other major cryptocurrencies, the price of LTC fell sharply to
start the week last week before stabilizing and then recovering slightly.
•
Accounting for movements both up and down, the price of LTC ended the
week down in USD terms.
•
In terms of BTC, the price of LTC continued to underperform, declining
steadily throughout the week last week.
•
Volumes last week averaged 38.1 million coins per day which was higher
than the previous week’s volume of 33.6 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.
â– DASH News:
•
Farmarket, a 22-location Venezuelan pharmacy franchise, has added
Dash as a payment option in partnership with Xpay, increasing Dash
adoption in inflation plagued Venezuela. Farmarket claims to support
over 250,000 monthly customers throughout the country.
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 experienced significant downward pressure in USD
terms to start the week last week before recovering only slightly in the
latter half of the week.
•
This outsized drop in comparison to other major cryptocurrencies resulted
in the price of Dash declining steadily in BTC terms and also falling in
rank, dropping to be the 17th largest cryptocurrency in terms of market
capitalization behind Ethereum Classic for the first time all year.
•
Volumes were similar week-over-week, averaging 1.5 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$111 (US$83)
September 03, 1:45 pm
All figures in USD$, 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
September 03, 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:
2016
Primary Use:
112 mm
Coins Outstanding:
Maximum Coins:
POW or POS:
WORK
Website:
https://ethereumclassic.org/
Ethereum Classic (ETC)
C$9.09 (US$6.82)
September 03, 1:45 pm
All figures in USD$, 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
September 03, 2019
â– ETH Classic News:
•
Ethereum Classic moved up to the 16
th
largest cryptocurrency based on
market cap. ETC is now ranked one above Dash with a market cap of
US$773.8 million vs Dash’s market cap of US$750.9 million.
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 trended similarly to other major cryptocurrencies last
week, falling throughout the first half of the week before recovering in
the second half.
•
Overall the price of ETC ended down on the week both in USD and
BTC terms.
•
Volumes were lower week-over-week, averaging 110.4 million coins
per day compared to the previous week’s volumes of 134.5 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
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 03, 2019
