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$9,869 (US$7,504)
December 23, 2019 2:00 pm
â– General Cryptocurrency News:
• Private equity and hedge fund manager Fortress Investment Group has
resubmitted an offer to purchase cryptocurrency claims from Mt. Gox
creditors. Bloomberg reported last week that Fortress’ offer is now roughly
13.5% lower than an initial bid it extended to creditors earlier this year, down
to US$778 per Bitcoin claim as opposed to US$900 previously. Creditors
have until December 31, 2019 to decide whether to accept the firm’s
proposal.
• Fidelity Digital Assets are extending their operations to cover European
digital asset clients. The decision was based on significant interest from
institutional players in custodial and execution services.
â– BTC News:
• Institutional interest in Bitcoin appears to be picking up with Grayscale’s
Bitcoin Investment Trust reporting its largest ever quarterly inflows (US$171
million) in its six-year history.
• In a recent interview with crypto media network BlockTV, venture capitalist
and Bitcoin enthusiast Tim Draper reiterated his prediction that the price of
Bitcoin will surpass US$250,000 by 2022.
• After struggling to yet approve a Bitcoin exchange-traded fund (ETF), the
United States Securities and Exchange Commission (SEC) has earmarked
a longer period for considering an updated ETF proposal by Wilshire
Phoenix Fund. Last week the regulator indicated it would come to a
decision on approval or disapproval of the fund by February 26, 2020, 240
days after the Wilshire’s last filing.
â– Trading History YTD:
• After a stable start to 2019, the price of BTC shot higher during the second
quarter of the year, reaching a peak of almost US$14,000 at the end of June.
• During the second half of 2019, the price of BTC trended negatively with lower
successive peaks and troughs as the coin continues to look for price support.
• Despite the back-half negative trend, the price of BTC remains well up on the
year, currently trading at a level more than double where it started, making it one
of the best performing asset classes of 2019.
â– Current Environment:
• The price of BTC whipsawed last week within a US$1,000 range between
US$6,500 and US$7,500.
• The coin seemed to find support mid-week in the low US$7,000s before
trending higher over the weekend to around US$7,500.
• Volumes for the week were higher, averaging 3.31 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):
~$0.476
Website:
https://bitcoin.org
Coin Profile
Bitcoin is a decentralized coin enabling revolutionary
means to exchange value across the globe. It continues
to be the biggest and most influential coin, encouraging
peer-to-peer payment networks powered by its users
with no central or middle authority.
0.0
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6,000.00
8,000.00
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12,000.00
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50 SMDA
December 23, 2019
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
Andrei Novikov
andrei@bitvo.growmeconsulting.ca
All figures in USD$, 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$172 (US$131)
December 23, 2019 2:00 pm
â– ETH News:
• No significant Ether related news last week.
â– Trading History YTD:
• The price of ETH commenced the year relatively stable before accelerating in May
and then falling July onwards.
• Overall, accounting for price movements both up and down, the price of ETH has
now given up all of its year to date gains, finishing the year down slightly in USD
terms.
• With the positive performance of BTC in 2019, ETH has underperformed BTC,
with the price of ETH in BTC terms generally trending down from February
onwards.
â– Current Environment:
• The price of ETH dropped sharply at the beginning of last week
before recovering approximately half of that drop mid-week and
drifting slightly higher over the weekend.
• Accounting for movements both up and down, the price of ETH
finished the week down both in USD and BTC terms.
• Volumes for the week averaged 70.67 million coins per day, which is
above previous week’s volumes of 49.37 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.
0.0
10.0
20.0
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70.0
80.0
90.0
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50 SMDA
Bitvo.com
December 23, 2019
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
Andrei Novikov
andrei@bitvo.growmeconsulting.ca
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$0.26 (US$0.20)
December 23, 2019 2:00 pm
â– XRP News:
• Ripple, the blockchain payments development firm that initially
launched the XRP token, revealed last week a US$200 million Series
C funding round led by Tetragon, valuing Ripple at US$10 billion.
• Ripple’s news seemed to result in the price of XRP moving higher, up
around 4% over a 24-hour trading period.
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 throughout the entire year but for a brief period of
outperformance in September and October.
â– Current Environment:
• The price of XRP dropped sharply in USD and BTC terms at the
beginning of the week last week before rebounding mid-week and
stabilizing at higher levels during the latter half of the week.
• Volumes for the week averaged 3.22 billion coins per day, which is
lower than the previous week’s volumes of 4.26 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
0.00
5.00
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40.00
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50.00
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$0.30
$0.40
$0.50
$0.60
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50 SMDA
December 23, 2019
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
Andrei Novikov
andrei@bitvo.growmeconsulting.ca
All figures in USD$, 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$255 (US$194)
December 23, 2019 2:00 pm
â– BCH News:
• Burger King restaurant in Sloveni
a added Bitcoin Cash to its payment
options. Cryptocurrency has become very popular in the last
few
years with many merchants accepting digital payments.
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 USD terms and negatively in BTC terms over the
same period.
â– Current Environment:
• In USD terms, the price of BCH dropped sharply at the beginning of
the week before recovering about half of its losses and stabilizing at
this level mid-week onwards.
• In BTC terms, the price of BCH trended negatively throughout the
week, continuing the back-half of 2019 theme of underperformance
versus BTC.
• Volumes were higher week-over-week, averaging 9.16 million coins
per day compared to the previous weeks 5.88 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):
~$0.0011
Website:
Coin Profile
Bitcoin Cash is peer-to-peer electronic cash for the
Internet. It is fully decentralized, with no central bank and
requires no trusted third parties to operate. Bitcoin Cash
is the continuation of the Bitcoin project as peer-to-peer
digital cash. It is a fork of the Bitcoin blockchain ledger,
with upgraded consensus rules that allow it to grow and
scale.
0.0
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7.0
8.0
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50 SMDA
December 23, 2019
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
Andrei Novikov
andrei@bitvo.growmeconsulting.ca
All figures in USD$, 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$55 (US$42)
December 23, 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 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 underperformance, the price of
LTC is down on the year in BTC terms.
â– Current Environment:
• Similar to other major cryptocurrencies, the price of LTC dropped sharply
at the beginning of last week in USD terms before recovering about half
of its losses and stabilizing at that level in the latter half of the week.
• In BTC terms, the price of LTC continued to underperform, trending
downwards for most of the week last week.
• Volumes last week averaged 78.29 million coins per day which was
higher than the previous week’s volume of 58.91 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):
~$0.035
Website:
https://litecoin.com/
Coin Profile
Litecoin is a peer-to-peer cryptocurrency and
open source software project released under the
MIT/X11 license. Creation and transfer of coins is
based on an open source cryptographic protocol and is
not managed by any central authority. The coin was
inspired by, and in technical details is nearly identical to,
Bitcoin.
0.0
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20.0
30.0
40.0
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70.0
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40
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80
100
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50 SMDA
December 23, 2019
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
Andrei Novikov
andrei@bitvo.growmeconsulting.ca
All figures in USD$, 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$58 (US$44)
December 23, 2019 2:00 pm
â– DASH News:
• ATAR has integrated Dash in Brazil, resulting in 2.5 million merchants
now having the capability to accept Dash as payment. ATAR is the
developer of a mobile money wallet along with a hardware NFC (near-
field communication) bracelet that enables consumers to make
contactless payments anywhere Mastercard is accepted, currently at
85% of the machines (2.5 million merchants) in Brazil.
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 in
negative territory for the year both in USD and BTC terms.
â– Current Environment:
• Similar to other major cryptocurrencies, the price of Dash dropped sharply
in USD terms at the beginning of last week before recovering and
stabilizing at a level approximately half of its weekly loss mid-week
onwards.
• In BTC terms, the price of Dash declined steadily throughout the week
last week.
• Volumes were lower week-over-week, averaging 3.31 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.
0.0
0.4
0.8
1.2
1.6
2.0
2.4
2.8
3.2
3.6
4.0
4.4
$0
$20
$40
$60
$80
$100
$120
$140
$160
$180
$200
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50 SMDA
December 23, 2019
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
Andrei Novikov
andrei@bitvo.growmeconsulting.ca
All figures in USD$, 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
Bitvo.com
December 16, 2019
Ethereum Classic (ETC)
C$5.41 (US$4.11)
December 23, 2019 2:00 pm
â– ETH Classic News:
• Blockchain developer’s organization Ethereum Classic (ETC) Labs Core
(ETC Labs Core) has rebranded to ETC Core.
• ETC Core technology coordinator Stevan Lohja announced that ETC
Labs Core had been rebranded to ETC Core as this rebranding will
assist the company in differentiating itself from ETC Labs, one of the
first incubators that supported innovative projects on the Ethereum
Classic blockchain.
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 outperformed other major cryptocurrencies last week,
trending higher for most of the week while the broader group trended
negatively, and ending the week higher both in USD and BTC terms.
• Volumes were higher week-over-week, averaging 169.18 million coins
per day compared to the previous week’s volumes of 134.95 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
Andrei Novikov
andrei@bitvo.growmeconsulting.ca
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/
December 23, 2019
Bitvo.com
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100.0
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250.0
$0.00
$1.00
$2.00
$3.00
$4.00
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$7.00
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$10.00
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Bitvo.com
December 23, 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
