Bitvo.com
Bitcoin (BTC)
C$4,929 (US$3,717)
January 14, 1:45 pm
Shane Thomson, CFA
shane@bitvo.test
403.407.0046
Technical Trading Score*:
Date Of Inception:
2009
Primary Use:
CURRENCY
17mm
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:
21 mm
POW or POS:
WORK
Current Mining Fee (USD):
~$0.184
Website:
https://bitcoin.org
January 14, 2019
All figures in USD$, unless otherwise specified
LOG IN TO VIEW
â– General Cryptocurrency News:
â– BTC News:
• A new BTC ETF was filed by Bitwise Asset Management, which would involve
physically-settled futures contracts. The SEC is currently considering one BTC
ETF, filed by VanEck and SolidX in partnership with CBOE, with a final decision
expected by February 27
th
, 2019.
• Bitcoin miner, Bitmain, announced over the weekend that it will replace its co-
CEOs Wu Jihan and Zhan Ketuan, with its product engineering director Wang
Haichao. Bitmain accounts for ~75% of the world’s crypto mining chips.
Trading History YTD:
• It has been a volatile start to 2019 with last week completely erasing the first
week of the year’s gains. BTC opened the year at US$3,707 and closed last
night at US$3,553.
â– Current Environment:
• The price of BTC declined last week in sharp movements on January 9
th
, 10
th
and 13
th
. At the time of print BTC was trading at US$3,717.
• Volumes increased slightly to 1.4 million a day compared to 1.3 million a day for
the previous week.
• Crypto OTC desks are seeing increased buying demand in recent weeks.
Cumberland stated that its OTC buy/sell ratio increased ~60% last week towards
counterparties buying while Genesis has also reported seeing more buy orders
relative to the end of 2018.
•
•
CoinFLEX announced they will offer futures contracts for Bitcoin, Bitcoin Cash
and Ether. This is the first time that any derivatives for cryptocurrencies are
physically deliverable.
Thailand’s Minister of Finance has approved four companies to operate local
cryptocurrency exchanges. This continues the trend of Asian governments’
embracing of the cryptocurrency markets.
• Also in Asia, Japan’s Financial Services Agency (FSA) is exploring crypto ETFs
as it continues to ban derivatives based on crypto assets.
• Last week NASA proposed the “Air Traffic Management Blockchain
Infrastructure for Security, Authentication, and Privacy”, stating that it would use
an open-source permissioned blockchain to enable secure, private and
anonymous communication with air traffic services.
• According to Coin ATM Radar, just under 5 cryptocurrency ATMs are deployed
everyday.
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$0.44 (US$0.33)
January 14, 1:45 pm
All figures in USD$, unless otherwise specified
Page 3 of 8
Shane Thomson, CFA
shane@bitvo.test
403.407.0046
~$0.0002
Current Mining Fee (USD):
LOG IN TO VIEW
100 Billion
â– XRP News:
• In a new interview, Ripple Labs Inc.’s CEO Brad Garlinghouse told Fortune that
he believes many of the 200 banks and financial institutions that have joined
Ripple’s network are gearing up to utilize xRapid, which uses XRP to boost
cross-border payments.
• On Tuesday, the CTO of Ripple Labs Inc., David Schwartz posted on Twitter
that it is irresponsible of exchanges to use XRP and Ripple interchangeably. He
then went further to clarify that Ripple (bing Ripple Labs Inc.) is a private
company and XRP is a cryptocurrency.
â– Trading History YTD:
• After losing ground last week, XRP is down on the year having traded as high as
US$0.3750 before dropping to a low of under US$0.32 last week.
â– Current Environment:
• After a relatively rangebound start to 2019 that saw XRP fluctuate between US
$0.35 and US$0.37, XRP broke lower in the back half of last week, trading at
US$0.33 at time of print.
• Volumes increased this week to 1.51 billion per day.
January 14, 2019
Bitvo.com
Technical Trading Score*:
Date Of Inception:
2014
Primary Use:
SMART CONTRACTS
Coins Outstanding:
100mm
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$171 (US$129)
January 14, 1:45 pm
All figures in USD$, unless otherwise specified
Page 2 of 8
Shane Thomson, CFA
shane@bitvo.test
403.407.0046
~$0.067
Current Mining Fee (USD):
LOG IN TO VIEW
January 14, 2019
â– ETH News:
•
•
The upcoming ETH fork, the Constantinople fork, is scheduled to occur at block
7,080,000 and is anticipated to take place this week on January 16
th
, 2019.
Constantinople is part of scheduled protocol upgrades and is one of the key
milestones in Ethereum’s roadmap. The changes in this upgrade will lay the
ground work for Ethereum’s protocol shift from proof-of-work (PoW) to proof-of-
stake (PoS). These updates are integral to Ethereum’s long-term strategy of
increasing network capacity, while decreasing energy consumption from mining.
This hard fork is widely expected to be non-contentious and is not expected to
create two different cryptocurrencies.
â– Trading History YTD:
• After a positive start to 2019, which saw ETH rise steadily throughout the first
week of the year, ETH declined in price last week alongside other major
cryptocurrencies.
• ETH and XRP continue to jockey for second position in terms of market
capitalization, each at approximately US$13 billion behind BTC at US$63
billion.
â– Current Environment:
• After a continued rise in the first half of last week, the priced of ETH
commenced a decline on January 5
th
, with sharp drops experienced on
January 10
th
and 13
th
. After climbing as high as the low US$150s, ETH
dropped to a low of US$116 last night and is currently trading at US$129 at
time of print.
• Volumes remained flat this week averaging 19.2 million per day.
Bitvo.com
Technical Trading Score*:
Date Of Inception:
2017
Primary Use:
CURRENCY
17mm
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$177 (US$134)
January 14, 1:45 pm
All figures in USD$, unless otherwise specified
Page 4 of 8
Shane Thomson, CFA
shane@bitvo.test
403.407.0046
~$0.0056
Current Mining Fee (USD):
LOG IN TO VIEW
January 14, 2019
â– BCH News:
• No significant BCH-related news last week.
â– Trading History YTD:
• The price of BCH has generally declined so far in 2019, gradually
throughout the first week of the year and more violently last week. After
hitting a high of US$175 on January 2
nd
, BCH closed at US$126 last night.
â– Current Environment:
•
•
Similar to other major cryptocurrencies, BCH experienced sharp downward
movements in price last week on January 9
th
, 10
th
and 13
th
. At time of print, the
coin is trading at US$134.
Volumes stayed flat last week averaging 1.5 million per day .
Bitvo.com
Technical Trading Score*:
Date Of Inception:
2011
Primary Use:
CURRENCY
55mm
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$43 (US$32)
January 14, 1:45 pm
All figures in USD$, unless otherwise specified
Page 5 of 8
Shane Thomson, CFA
shane@bitvo.test
403.407.0046
~$0.020
Current Mining Fee (USD):
LOG IN TO VIEW
January 14, 2019
â– LTC News:
• No significant LTC related news last week.
â– Trading History YTD:
• LTC has so far outperformed other major cryptocurrencies in 2019, with a
steady rise in price over throughout the first week of the year being offset by
a less dramatic decline last week resulting in LTC being approximately flat
to January 1
st
when most other major cryptocurrencies are down on the
year.
â– Current Environment:
• The price of LTC declined last week from a high of almost US$41 to US$32
at time of print.
• Volumes increased significantly this week averaging 17 million per day
compared to the previous weeks volumes of 14 million per day.
Bitvo.com
Technical Trading Score*:
Date Of Inception:
2014
Primary Use:
CURRENCY
8 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$97 (US$73)
January 14, 1:45 pm
All figures in USD$, unless otherwise specified
Page 6 of 8
Shane Thomson, CFA
shane@bitvo.test
403.407.0046
~$0.0148
Current Mining Fee (USD):
LOG IN TO VIEW
January 14, 2019
â– DASH News:
• Dash Core Group announced that v0.13 will launch today. The upgrade will
feature automatic InstantSend, deterministic masternode lists, special
transactions, a third masternode key to delegate voting responsibility, and
improvements to PrivateSend. This upgrade will serve as the foundation for
the future upgrades of Evolution.
• After a couple months of testing, Dash Nexus went live on Friday to bring new
features to help improve the Dash governance mechanism. In addition to a
more sleek UI/UX, Nexus offers better sorting and classification of proposals,
more informative proposal templates, a concepts section for potential
proposals, and a Dashboard section for widgets with key data insights.
â– Trading History YTD:
• Similar to other major cryptocurrencies, price declines in Dash last week more
than wiped out the first week of the year’s gains.
â– Current Environment:
• Dash experienced sharp price declines on January 9
th
, 10
th
and 13
th
last
week, resulting in a price drop from a high of US$87.25 to US$73 at time of
print.
• Volumes stayed relatively flat this week averaging 1.4 million per day.
Bitvo.com
Technical Trading Score*:
Date Of Inception:
2016
Primary Use:
105 mm
Coins Outstanding:
Maximum Coins:
POW or POS:
WORK
Website:
https://ethereumclassic.org/
Ethereum Classic (ETC)
C$5.83 (US$4.39)
January 14, 1:45 pm
All figures in USD$, unless otherwise specified
Page 7 of 8
Shane Thomson, CFA
shane@bitvo.test
403.407.0046
~$0.0036
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
January 14, 2019
â– ETH Classic News:
• On January 7
th
a potential 51% attack was reported on the ETC blockchain.
While Ethereum Classic denied the attack, exchanges took precautions
including disallowing withdrawals and increasing required confirmations.
• Without confirmation that it occurred, the threat of an attack has now
dissipated and withdrawals have been reenabled and confirmations
brought back down to normal levels.
â– Trading History YTD:
• After declining throughout 2018, ETC has started the year relatively stable
before experiencing sharp price declines last week alongside other major
cryptocurrencies.
â– Current Environment:
• The price of ETC declined sharply on January 9
th
, 10
th
and 13
th
, bringing
the currency to a low of US$4.22 before rebounding today to US$4.39 at
time of print.
• Volumes increased this week, averaging 28.0 million per day compared to
last weeks volumes averaging 21.3 million per day.
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 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
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Page 8 of 8
January 14, 2019
