Bitvo.com
Bitcoin (BTC)
C$14,221 (US$10,914)
July 15, 1:30 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):
~$1.46
Website:
https://bitcoin.org
July 15, 2019
All figures in USD$, unless otherwise specified
LOG IN TO VIEW
â– General Cryptocurrency News:
•
Tyler and Cameron Winklevoss, co-founders of crypto trading platform
Gemini, predicted last week that every “FANG” company (defined as the
Big Four technology firms, Facebook, Amazon, Netflix and Google) will
have its own cryptocurrency within two years.
•
In China, 22 suspects were arrested and 4,000 crypto mining units were
confiscated in what the local police are saying was an illegal mining
operation. The operation allegedly stole approximately US$3 million worth
of electricity.
•
President of the United States, Donald Trump, tweeted about his
reservations on cryptocurrency. He specifically mentioned Bitcoin and Libra
and stated that the U.S. dollar is the only real currency, fiat or otherwise.
•
At the same time, the Governor of the Bank of England acknowledged that
Libra is an innovation that attempts to solve problems associated with the
delays in sending fiat across borders.
â– BTC News:
•
Software entrepreneur John McAfee reiterated that he believes the price of
a Bitcoin will hit US$1 million by the end of 2020.
•
Payments start-up Fold has made Bitcoin’s Lightning Network payments
possible at Amazon, Starbucks, Uber and other big-name retailers. The
Lightning Network is a second-layer solution to Bitcoin’s scalability
limitations, opening payment channels between users that keep the
majority of transactions off-chain, turning to the underlying blockchain only
to record net results.
•
According to a report from Morningstar via the Wall Street Journal,
Grayscale Investments’ Bitcoin Trust (GBTC) is up almost 300% so far in
2019, making it the best performing fund on the market despite the recent
pull back in the price of BTC.
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 and climbed steadily throughout May
and June before correcting at the end of June.
Current Environment:
•
After rising slightly at the beginning of last week, the price of BTC trended
negatively from Wednesday onwards before starting to rebound today.
•
Volumes for the week averaged 2.2 million coins per day, which is slightly
lower than the previous week’s volumes of 2.3 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$304 (US$233)
July 15, 1:30 pm
All figures in USD$, unless otherwise specified
Page 2 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.24
Current Mining Fee (USD):
LOG IN TO VIEW
July 15, 2019
â– ETH News:
•
While Ethereum continues to work towards Ethereum 2.0, co-founder
Vitalik Buterin has proposed the use of the Bitcoin Cash blockchain as a
temporary scalability solution for the Ethereum network. The Ethereum
native blockchain is capable of processing up to 15 transactions per
second, while its major competitor Ripple is estimated to have a
transactions per second capacity of 1,500.
•
Ethereum co-founder Mihai Alisie stated he is concerned that Facebook is
trying to sell its proposed cryptocurrency, Libra, to regulators as a
decentralized currency when in fact it should be seen as a centralized
currency controlled by a few companies.
â– Trading History YTD:
•
The price of ETH commenced the year relatively stable before
accelerating in May and then stabilizing to falling slightly in June and July,
while remaining well in positive territory on the year.
•
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 fell for most of the week last week, both in USD and BTC
terms.
•
Volumes for the week averaged 33.1 million coins per day, which is higher
than the previous week’s volumes of 31.0 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:
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$0.41 (US$0.32)
July 15, 1:30 pm
All figures in USD$, unless otherwise specified
Page 3 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.0006
Current Mining Fee (USD):
LOG IN TO VIEW
100 Billion
â– XRP News:
•
No significant XRP related news last week.
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.
•
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:
•
Similar to other major cryptocurrencies, the price of XRP trended down
throughout most of the week last week both in terms of USD and BTC.
•
Volumes for the week were higher, averaging 4.53 billion coins per day
compared to the previous week’s volumes of 3.72 billion coins per day.
July 15, 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:
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$120 (US$92)
July 15, 1:30 pm
All figures in USD$, unless otherwise specified
Page 5 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.0731
Current Mining Fee (USD):
LOG IN TO VIEW
July 15, 2019
â– LTC News:
•
Litecoin is now the official cryptocurrency of National Football League
team the Miami Dolphins, according to a press release on July 11th.
•
The Dolphins and Litecoin have also partnered with Aliant Payments,
a crypto merchant services and payment processing firm, to enable
crypto payments for the team’s upcoming 50/50 raffle.
â– Trading History YTD:
•
Having started 2019 as a relative outperformer in comparison to other
major cryptocurrencies, LTC lost some 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 slightly on the year.
â– Current Environment:
•
The price of LTC continued its negative trend last week, dropping both in
terms of USD and BTC.
•
Volumes last week averaged 37.1 million coins per day which was higher
than the previous week’s volume of 35.4 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:
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$413 (US$317)
July 15, 1:30 pm
All figures in USD$, unless otherwise specified
Page 4 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.005
Current Mining Fee (USD):
LOG IN TO VIEW
July 15, 2019
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 tended 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 trended similarly to the price of BTC last week,
starting the week stable to slightly positive before falling over the
balance of the week.
•
Volumes were higher week-over-week, averaging 4.9 million coins per
day compared to the previous week’s volumes of 4.3 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:
•
MyDashWallet, developed and maintained by an independent developer
unrelated to Dash, announced a major vulnerability that allowed a hacker
to obtain private keys used between May 13th and July 12th, 2019.
Anyone who used the wallet between those dates is warned to assume
their private keys are known and move their funds immediately. Dash
Core Group is working with the developer to resolve the issues.
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 trended negatively last week in terms of USD and BTC.
•
Volumes were slightly lower week-over-week, averaging 2.2 million coins
per day compared to the previous week’s volumes of 2.3 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$161 (US$124)
July 15, 1:30 pm
All figures in USD$, unless otherwise specified
Page 6 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.0142
Current Mining Fee (USD):
LOG IN TO VIEW
July 15, 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$7.54 (US$5.79)
July 15, 1:30 pm
All figures in USD$, unless otherwise specified
Page 7 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.0023
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
July 15, 2019
â– ETH Classic News:
•
No significant Ethereum Classic related news last week.
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 through the end of June, before
correcting again in July 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:
•
Similar to other major cryptocurrencies, the price of ETC trended
negatively last week in terms of USD and BTC.
•
Volumes were lower week-over-week, averaging 90.5 million coins per
day compared to the previous week’s volumes of 100.1 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
July 15, 2019
