Bitvo.com
Bitcoin (BTC)
C$15,618 (US$11,921)
July 08, 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):
~$1.64
Website:
https://bitcoin.org
July 08, 2019
All figures in USD$, unless otherwise specified
LOG IN TO VIEW
â– General Cryptocurrency News:
•
In an interview with the Financial Times, Agustin Carstens, the chief of the
Bank for International Settlements (BIS), noted that central banks will soon
likely need to issue digital currencies of their own. Carstens said that the
BIS is currently supporting global central banks in researching and
developing cryptocurrencies based on existing national fiat currencies.
•
The world continues to debate the merits and potential issues associated
with Facebook’s proposed stable coin, Libra. Last week lawmakers from
the United States House of Representatives Committee on Financial
Services issued a letter to Facebook executives urging them to stop
development to allow it to explore legislative solutions and hold public
hearings on the risks and benefits of Libra.
•
The President of Venezuela has instructed Banco de Venezuela to start
accepting Venezuela’s oil-backed cryptocurrency, the Petro.
â– BTC News:
•
The Bitcoin hash rate reached a new all-time high over the weekend,
according to data from monitoring resource Blockchain.com. The previous
record was broken in the second half of June, when Bitcoin’s hash rate
reached 65.19 TH/s and growth has steadily continued since then.
•
The University of Cambridge launched a real-time index that tracks the
total electricity consumption of the Bitcoin network. The Cambridge Bitcoin
Electricity Consumption Index, or CBECI, gives an estimate of the total
annualized energy consumption of the Bitcoin network, updated every
thirty seconds.
•
Using this data provided by the CBECI, commentators quickly deduced
that the electricity wasted each year by always-on but inactive home
devices in the United States alone could apparently power the Bitcoin
network for four years.
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:
•
The price of BTC continued to try to find direction last week. Accounting for
moves both up and down, the price of BTC ended the week higher, again
approaching US$12,000 over the weekend.
•
Volumes for the week averaged 2.3 million coins per day, which is lower
than the previous week’s volumes of 2.8 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$402 (US$307)
July 08, 1:30 pm
All figures in USD$, unless otherwise specified
Page 2 of 8
Shane Thomson, CFA
shane@bitvo.com
403.407.0046
~$0.24
Current Mining Fee (USD):
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July 08, 2019
â– ETH News:
•
Binance moved its Tether coin (USDT) from an Omni address to an
ERC-20 address.
•
Poloniex recently started allowing ERC-20 USDT deposits. The reasoning
was that ERC-20 is a faster and less expensive way to transfer USDT.
â– Trading History YTD:
•
The price of ETH has experienced positive momentum for most of 2019,
commencing the year relatively stable before accelerating from May
onwards.
•
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 BTC, the price of ETH bounced around last week but ended the
week higher in terms of USD.
•
In terms of BTC, the price of ETH was relatively stable, ending the week
slightly lower.
•
Volumes for the week averaged 31.0 million coins per day, which is lower
than the previous week’s volumes of 38.4 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:
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$0.52 (US$0.40)
July 08, 1:30 pm
All figures in USD$, 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:
•
After movements both up and down throughout the week, the price of
XRP exited the week at approximately the same level as it began in
terms of USD.
•
In terms of BTC, XRP continued to underperform, trending steadily
downward throughout the week.
•
Volumes for the week were lower, averaging 3.72 billion coins per day
compared to the previous week’s volumes of 5.20 billion coins per day.
July 08, 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$158 (US$120)
July 08, 1:30 pm
All figures in USD$, 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 08, 2019
â– LTC News:
•
Payments system Flexa has added Litecoin as one of the
cryptocurrencies it will process. This adds approximately 40,000 new
merchants who will now accept Litecoin.
•
Litecoin is fast approaching halving, which is now less than one month
away.
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.
•
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 approximately flat on the year.
â– Current Environment:
•
The price of LTC in terms of USD was relatively stable last week, ending
the week approximately where it began.
•
In terms of BTC, the price of LTC continued to experience downward
pressure throughout the week last week.
•
Volumes last week averaged 35.4 million coins per day which was lower
than the previous week’s volume of 39.9 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.
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$541 (US$413)
July 08, 1:30 pm
All figures in USD$, 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 08, 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 to slightly positive since the
beginning of April in USD terms and sideways to slightly negative in
BTC terms over the same period.
â– Current Environment:
•
The price of BCH was quite volatile last week, ending the week close
to flat in USD terms after spikes both up and down.
•
In terms of BTC, the price of BCH continued to grind lower throughout
the week last week.
•
Volumes were lower week-over-week, averaging 4.3 million coins per
day compared to the previous week’s volumes of 5.6 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:
•
Dash 24-hour transactions and active addresses surpassed Litecoin’s
last week, with 24-hour transactions in excess of 30,000 versus Litecoin’s
approximate 27,000.
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 was also volatile last week, ending the week higher
after movements both up and down throughout the week in terms of
USD.
•
In terms of BTC, the price of Dash underperformed, trending steadily
lower throughout the week.
•
Volumes were lower week-over-week, averaging 2.3 million coins per day
compared to the previous week’s volumes of 2.8 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$207 (US$158)
July 08, 1:30 pm
All figures in USD$, 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 08, 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$10.41 (US$7.95)
July 08, 1:30 pm
All figures in USD$, 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 08, 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 onwards 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:
•
An outlier amongst other major cryptocurrencies, the price of ETC
trended higher for most of the week last week in USD terms.
•
However, BTC continued to outperform and the price of ETC ended the
week down in terms of BTC.
•
Volumes were lower week-over-week, averaging 100.1 million coins per
day compared to the previous week’s volumes of 121.3 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
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 08, 2019
