All figures in USD$, unless otherwise specified
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Page 1 of 8
Bitcoin (BTC)
C$10,801 (US$8,209)
October 21, 2019 2:00 pm
â– General Cryptocurrency News:
• Bank of Canada Governor Stephen Poloz hinted at a Canadian government
backed digital currency in a presentation last week to combat competition
from cryptocurrencies. The digital asset would initially coexist with coins and
paper money before eventually replacing them completely.
• Institutional adoption of cryptocurrencies continues to increase. Last week,
major cryptocurrency asset manager Greyscale Investments announced that
Q3 2019 was its best quarter yet in terms of fund inflows with US$254.9
million flowing into the company, approximately three times greater than the
previous quarter.
• In an interview with the Financial Times, CEO of Fidelity Investments Abigail
Johnson revealed that Fidelity’s institutional grade custody solution is now
ready to be rolled out after a year long preparation and accumulation of
clients.
• Previously thought to aid criminals, cryptocurrency blockchains are now
being used to trace transactions and assist law enforcement officials in
fighting crime.
• Last week the U.S. Department of Justice announced the shutdown of the
largest-to-date child sexual exploitation site. IRS-Criminal Investigations
(IRS-CI) Chief Don Fort commented “Through the sophisticated tracing of
bitcoin transactions, IRS-CI special agents were able to determine the
location of the Darknet server, identify the administrator of the website and
ultimately track down the website server’s physical location in South Korea.”
â– BTC News:
• On October 18th, 2019, the number of bitcoins mined crossed 18 million,
leaving only 3 million left to be mined before reaching the predetermined
total of 21 million that will ever exist.
• HTC announced last week that its smartphone Exodus 1 will be able to run
a bitcoin node.
â– Trading History YTD:
• Since the end of June, the price of BTC has traded sideways to negative
with successive peaks achieving lower highs and support levels declining to
approximately US$8,000.
â– Current Environment:
• The price of BTC continued to trade sideways last week with negative
pressure slightly outweighing positive momentum and resulting in a net
negative movement on the week.
• Support continues to hold around US$8,000.
• Volumes for the week were similar, averaging 1.9 million coins per day.
Technical Trading Score*:
LOG IN TO VIEW
Date Of Inception:
2009
Primary Use:
CURRENCY
Coins Outstanding:
Maximum Coins:
18mm
21mm
POW or POS:
WORK
Current Mining Fee (USD):
~$0.476
Website:
https://bitcoin.org
Coin Profile
Bitcoin is a decentralized coin enabling revolutionary
means to exchange value across the globe. It continues
to be the biggest and most influential coin, encouraging
peer-to-peer payment networks powered by its users
with no central or middle authority.
October 21, 2019
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
403.407.0046
All figures in USD$, unless otherwise specified
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Page 2 of 8
Ether (ETH)
C$229 (US$174)
October 21, 2019 2:00 pm
â– ETH News:
• The United States Commodity Futures Trading Commission
(CFTC) hinted at the near-term possibility of an Ether futures
product.
• In his remarks from the Yahoo Finance’s All Markets Summit
in New York City, Heath Tarbert said “It is my view as
Chairman of the CFTC that Ether is a commodity, and
therefore it will be regulated under the CEA. And my guess is
that you will see in the near future Ether-related futures
contracts and other derivatives potentially traded.”
â– Trading History YTD:
• The price of ETH commenced the year relatively stable before
accelerating in May and then falling July onwards.
• 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:
• While the price of ETH rose slightly in USD terms last week, it
continued to underperform the price of BTC and, as a result,
declined in BTC terms steadily throughout the week.
• Volumes for the week averaged 40.5 million coins per day, which is
slightly below than the previous week’s volumes of 42.7
million coins per day.
Technical Trading Score*:
LOG IN TO VIEW
Date Of Inception:
2014
Primary Use:
SMART CONTRACTS
Coins Outstanding:
107mm
Maximum Coins:
NO MAX
POW or POS:
WORK
Current Mining Fee (USD):
~$0.129
Website:
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.
Bitvo.com
October 21, 2019
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
403.407.0046
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Page 3 of 8
XRP
C$0.39 (US$0.29)
October 21, 2019 2:00 pm
â– XRP News:
• Amidst recent criticism that it Ripple is offloading its XRP tokens and,
as a result, putting pressure on the price of XRP, the company
announced that it sold US$66.24 million worth of XRP in Q3 2019
and pointed out that is down a 73.66% compared to a record sale of
US$251.51 million in the previous quarter.
• According to the third quarterly report released on October 18th,
Ripple had previously announced plans to sell XRP tokens slower in
Q3.
• Ripple’s investment arm and tech incubator Xpring continues to invest
in infrastructure that will support the adoption of XRP, last week
investing in Swedish cryptocurrency self-custody startup Towo Labs
to build hardware wallet firmware. The startup plans to develop a new
version of the XRP Toolkit and hardware wallet firmware supporting
all XRP Ledger transaction types, as well as a non-custodial web
interface.
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.
• However, for the first time in 2019, XRP has begun to outperform other
major cryptocurrencies recently increasing in both USD and BTC
terms over the past month.
â– Current Environment:
• The price of XRP was volatile last week with sharp movements both up
and down.
• Overall, positive sentiment and momentum continued to outweigh
negative with the price of XRP ending the week up in both USD and
BTC terms.
• Volumes for the week averaged 5.93 billion coins per day, which is
higher than the previous week’s volumes of 4.97 billion coins per day.
Technical Trading Score*:
LOG IN TO VIEW
Date Of Inception:
2012
Primary Use:
CURRENCY
Coins Outstanding:
Maximum Coins:
99.99 Billion
100 Billion
POW or POS:
CORRECTNESS
Current Mining Fee (USD):
~$0.0003
Website:
https://ripple.com/
Coin Profile
XRP is the decentralized native currency employed by
Ripple. Ripple is a settlement system, currency
exchange and remittance network created by Ripple
Labs Inc. It is built upon a distributed open source
internet protocol, and supports tokens representing fiat
currency or cryptocurrency. The company purports to
enable "secure, instantly and nearly free global financial
transactions of any size with no chargebacks."
All figures in USD$, unless otherwise specified
October 21, 2019
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
403.407.0046
All figures in USD$, unless otherwise specified
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Page 4 of 8
Bitcoin Cash (BCH)
C$307 (US$235)
October 21, 2019 2:00 pm
â– BCH News:
• No significant BCH 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 to negative since the
beginning of April in both USD and BTC terms.
â– Current Environment:
• The price of BCH declined for the majority of the week last week
before spiking over the weekend, resulting in it ending the week in
positive territory both in USD and BTC terms.
• Volumes were slightly lower week-over-week, averaging 5.8 million
coins per day compared to the previous week
‘s 6.1 million coins per
day.
Technical Trading Score*:
LOG IN TO VIEW
Date Of Inception:
2017
Primary Use:
CURRENCY
Coins Outstanding:
18mm
Maximum Coins:
21 mm
POW or POS:
WORK
Current Mining Fee (USD):
~$0.0011
Website:
Coin Profile
Bitcoin Cash is peer-to-peer electronic cash for the
Internet. It is fully decentralized, with no central bank and
requires no trusted third parties to operate. Bitcoin Cash
is the continuation of the Bitcoin project as peer-to-peer
digital cash. It is a fork of the Bitcoin blockchain ledger,
with upgraded consensus rules that allow it to grow and
scale.
October 21, 2019
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
403.407.0046
All figures in USD$, unless otherwise specified
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Page 5 of 8
Litecoin (LTC)
C$72 (US$55)
October 21, 2019 2:00 pm
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.
• The price of LTC in USD terms has traded in positive territory for all of
2019 year to date. However, as a result of the above noted recent
underperformance, the price of LTC is now down on the year in BTC
terms.
â– Current Environment:
• The price of LTC continued to trend negatively last week both in USD
and BTC terms.
• Volumes last week averaged 48.5 million coins per day which was
slightly higher than the previous week’s volume of 47.0 million coins per
day.
Technical Trading Score*:
LOG IN TO VIEW
Date Of Inception:
2011
Primary Use:
CURRENCY
Coins Outstanding:
Maximum Coins:
62mm
84 mm
POW or POS:
WORK
Current Mining Fee (USD):
~$0.035
Website:
https://litecoin.com/
Coin Profile
Litecoin is a peer-to-peer cryptocurrency and
open source software project released under the
MIT/X11 license. Creation and transfer of coins is
based on an open source cryptographic protocol and is
not managed by any central authority. The coin was
inspired by, and in technical details is nearly identical to,
Bitcoin.
October 21, 2019
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
403.407.0046
All figures in USD$, unless otherwise specified
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Page 6 of 8
DASH (DASH)
C$89 (US$68)
October 21, 2019 2:00 pm
â– DASH News:
• This week, Dash Core released an update on its plans for the Platform
Chain, the upcoming Dash Platform to handle data for decentralized
applications (DApps) more efficiently. The Platform Chain will run only
on the masternode network on a sidechain to enable more efficient and
cheaper resource usage, easier data verification for light clients, faster
state transition finalization for better user experience and a decreased
risk to the core network functionality.
• Binance US, the United States arm of Binance, will be adding Dash
with a USD pair to its exchange. This is a significant step considering
the regulatory hurdles of a cryptocurrency exchange in the United
States, especially with direct pairs against the dollar.
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 July onwards.
• Accounting for movements both up and down, the price of Dash is now
in negative territory for the year both in USD and BTC terms.
â– Current Environment:
• The price of Dash continued to trend negatively last week both in USD
and BTC terms.
• Volumes were similar week-over-week, averaging 1.9 million coins per
day.
Technical Trading Score*:
LOG IN TO VIEW
Date Of Inception:
2014
Primary Use:
CURRENCY
Coins Outstanding:
9 mm
Maximum Coins:
22 mm
POW or POS:
STAKE
Current Mining Fee (USD):
~$0.006
Website:
Coin Profile
Dash is an open source peer to peer cryptocurrency. On
top of Bitcoin’s feature set, it currently offers instant
transactions, private transactions and operates a self-
governing and self-funding model that enables the Dash
network to pay individuals and businesses to perform
work that adds value to the network. Dash’s
decentralized governance and budgeting system makes
it a decentralized autonomous organization.
October 21, 2019
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
403.407.0046
All figures in USD$, unless otherwise specified
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
Page 7 of 8
October 21, 2019
Bitvo.com
Ethereum Classic (ETC)
C$6.02 (US$4.6)
October 21, 2019 2:00 pm
â– ETH Classic News:
• No significant ETC related news last week.
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 July onwards 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 traded sideways throughout the week last week, both
in USD and BTC terms.
• Volumes were higher week-over-week, averaging 107.3 million coins
per day compared to the previous week’s volumes of 106.2 million
coins per day.
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.
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
403.407.0046
Technical Trading Score*:
LOG IN TO VIEW
Date Of Inception:
2016
Primary Use:
SMART CONTRACTS
Coins Outstanding:
112MM
Maximum Coins:
NO MAX
POW or POS:
WORK
Current Mining Fee (USD):
~$0.002
Website:
https://ethereumclassic.org/
Bitvo.com
October 21, 2019
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
