Bitvo.com
Bitcoin (BTC)
C$11,776 (US$8,760)
May 27, 1:00 pm
Shane Thomson, CFA
shane@bitvo.test
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:
21 mm
POW or POS:
WORK
Current Mining Fee (USD):
~$2.07
Website:
https://bitcoin.org
May 27, 2019
All figures in USD$, unless otherwise specified
LOG IN TO VIEW
â– General Cryptocurrency News:
•
AT&T announced this week that it will accept cryptocurrency for paying
phone bills online using crypto payments platform BitPay. BitPay converts
crypto into fiat and is currently used by more than 20,000 businesses.
AT&T had previously announced at the end of 2018 that it was working on
a suite of blockchain solutions compatible with Microsoft Azure and the
IBM Blockchain Platform.
•
Citing two people familiar with Facebook’s “Globalcoin” project, the
Financial Times reported that Facebook is currently in talks with major
United-States based crypto exchanges regarding the issuance of its own
cryptocurrency.
â– BTC News:
•
The U.S. Securities and Exchange Commission (SEC) delayed its
decision again concerning the VanEck bitcoin exchange-traded fund
(ETF) proposal. The SEC added a 35-day period for gathering more
information and opinions on the proposal, which was originally filed by
CBOE last year.
•
In last week’s SEC filing, the organization listed 14 questions about the
proposal for the public to review and answer, which will presumably be
factored into the SEC decision for approval. The questions are related to
the ability to protect investors and public interest. The organization had
already delayed its decision on the Securities Act update proposal that
would allow bitcoin ETFs to be traded on CBOE.
•
High-end Swiss watchmaker Franck Muller has partnered with alternative
assets investing firm Regal Assets to release the bitcoin storage watch,
“Encrypto”. In addition to being a high-end fashion accessory, with a price
ranging from US$9,800 to US$50,600, the watch reportedly also functions
as a cold wallet for bitcoin, with a public address inscribed on its dial and
a paired private key on a USB drive.
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.
•
Positive momentum has continued since then with the price exceeding US
$8,900 in May and stabilizing slightly lower than this level.
â– Current Environment:
•
The price of BTC trended sideways throughout most of the week last
week before spiking again over the weekend.
•
Volumes were lower week-over-week, averaging 3.1 million coins per day.
The previous week’s volumes averaged 3.6 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.
Bitvo.com
Technical Trading Score*:
Date Of Inception:
2014
Primary Use:
SMART CONTRACTS
Coins Outstanding:
106mm
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$361 (US$269)
May 27, 1:00 pm
All figures in USD$, unless otherwise specified
Page 2 of 8
Shane Thomson, CFA
shane@bitvo.test
403.407.0046
~$0.165
Current Mining Fee (USD):
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May 27, 2019
â– ETH News:
•
A new blockchain and DApp developer job kit has been released by New-
York-based firm, ConsenSys, to help aspiring Ethereum blockchain
developers enter the market.
•
The Enterprise Ethereum Alliance (EEA) has detailed several blockchain
use cases relevant to the real estate industry. Reportedly over 50 real
estate companies had input into the document.
•
The report describes four use cases including: tokenizing properties to
allow for more granular investment in an official way; shortening the
process of recording and transferring properties while increasing
transparency and making land registries trust-less; token-enabled
marketplaces, which would allow for improved trading and management
of the properties; and standardizing property data systems that would
allow for automatized property data sharing without giving up control over
it.
â– Trading History YTD:
•
After a positive start to the year, the price of ETH declined for most of
January before being able to hold on to positive momentum for the
remainder of the year.
•
However, with the recent positive performance of BTC, ETH has
underperformed BTC, with the price of ETH in BTC terms trending down
since the end of February.
â– Current Environment:
•
Similar to BTC, the price of ETH was relatively stable for most of the week
last week before spiking again over the weekend.
•
However, the price of ETH continued to underperform BTC, resulting in
ETH trending negatively in BTC terms throughout the week.
•
Volumes for the week averaged 40.5 million coins per day, this is down
from the previous week’s volume of 56.4 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$0.57 (US$0.42)
May 27, 1:00 pm
All figures in USD$, unless otherwise specified
Page 3 of 8
Shane Thomson, CFA
shane@bitvo.test
403.407.0046
~$0.0070
Current Mining Fee (USD):
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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 for most of the year to date. However,
the price of XRP in USD terms has experienced the same lift as other
major cryptocurrencies in May, spiking at the beginning of the month.
•
While the price of XRP has been more volatile in USD terms, it has
declined steadily in terms of BTC since the beginning of 2019.
â– Current Environment:
•
Alongside other major cryptocurrencies, the price of XRP ground
sideways last week before spiking over the weekend.
•
However, the price of XRP continued to decline in BTC terms throughout
the course of the week last week.
•
Volumes for the week were lower, averaging 4.67 billion coins per day
compared to the previous week’s volumes of 8.96 billion coins per day.
May 27, 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:
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$584 (US$434)
May 27, 1:00 pm
All figures in USD$, unless otherwise specified
Page 4 of 8
Shane Thomson, CFA
shane@bitvo.test
403.407.0046
~$0.0051
Current Mining Fee (USD):
LOG IN TO VIEW
May 27, 2019
â– BCH News:
•
Two miners have reportedly executed a 51% attack on the bitcoin cash
blockchain, according to tweets by Cryptoconomy Podcast host Guy
Swann on May 24th, 2019.
•
A 51% attack occurs when someone controls the majority of mining
power on a Proof-of-Work blockchain network. This means that the
majority block verifier can prevent other users from mining and reverse
transactions.
•
While many have assumed that a 51% attack would be carried out with
malicious intent, the above case occured as the two mining pools
attempted to prevent an unidentified party from taking some coins that,
due to a code update, were essentially made available to the network.
•
According to Swann, two miners with majority control of the network,
BTC.top and BTC.com, performed the attack in an effort to stop an
unknown miner from taking coins that were sent to an “anyone can
spend” address following the original hard fork in May 2017.
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.
•
BCH has experienced a similar price spike at the beginning of May,
surpassing US$400.
â– Current Environment:
•
The price of BCH ground sideways for most of last week before
increasing in USD terms over the weekend.
•
However, given its relative performance versus BTC, the price of BCH in
BTC terms declined throughout the week.
•
Volumes were lower week-over-week, averaging 6.1 million coins per
day compared to the previous week’s volumes of 9.0 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:
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$155 (US$115)
May 27, 1:00 pm
All figures in USD$, unless otherwise specified
Page 5 of 8
Shane Thomson, CFA
shane@bitvo.test
403.407.0046
~$0.0562
Current Mining Fee (USD):
LOG IN TO VIEW
May 27, 2019
â– LTC News:
•
No significant LTC related news last week.
â– Trading History YTD:
•
Having started 2019 as a relative outperformer in comparison to other
major cryptocurrencies, LTC has lost some momentum in the second
quarter of 2019 as it has not participated in the recent positive
movements to the extent other major cryptocurrencies have.
•
However, the price of LTC has traded positively for most of the year in
2019.
â– Current Environment:
•
Momentum continued last week in USD terms and accelerated in terms
of BTC last week as LTC resumed outperformance versus other major
cryptocurrencies.
•
Volumes were lower week-over-week, averaging 41.7 million coins per
day compared to the previous week’s volumes of 52.3 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:
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$225 (US$167)
May 27, 1:00 pm
All figures in USD$, unless otherwise specified
Page 6 of 8
Shane Thomson, CFA
shane@bitvo.test
403.407.0046
~$0.0212
Current Mining Fee (USD):
LOG IN TO VIEW
May 27, 2019
â– DASH News:
•
Dash Core Group’s latest release includes ChainLocks, which will be a
first for proof-of-work chains by further mitigating 51% attacks by utilizing
long-living masternode quorums (LLMQs). ChainLocks will permanently
lock in blocks based on a first-seen rule, which will mitigate blockchain
disruptions due to reorganizations, selfish or secret mining.
•
The release comes after the successful automatic InstantSend release in
version 0.13 and before the much anticipated version 1.0 (a.k.a.
Evolution) that will feature blockchain usernames and contact lists.
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 more volatile than other cryptocurrencies last
week.
•
Overall, negative movements outweighed positive ones with the price of
Dash ending the week down in both USD and BTC terms.
•
Like most other major cryptocurrencies, volumes for the week were lower
compared to the previous week’s average, averaging 3.1 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
Technical Trading Score*:
Date Of Inception:
2016
Primary Use:
110 mm
Coins Outstanding:
Maximum Coins:
POW or POS:
WORK
Website:
https://ethereumclassic.org/
Ethereum Classic (ETC)
C$10.57 (US$7.86)
May 27, 1:00 pm
All figures in USD$, unless otherwise specified
Page 7 of 8
Shane Thomson, CFA
shane@bitvo.test
403.407.0046
~$0.0024
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
May 27, 2019
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 has benefited from broader momentum in the cryptocurrency space,
trading generally positively in April and May 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:
•
The price of ETC continued to grind sideways last week, both in USD and
BTC terms.
•
Volumes were lower week-over-week, averaging 78.7 million coins per
day compared to the previous week’s volumes of 120.9 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
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
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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
May 27, 2019