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$9,111 (US$6,923)
December 16, 2019 2:00 pm
â– General Cryptocurrency News:
• The European Union Council and Commission issued a joint statement
stating, ”no global ‘stablecoin’ arrangement should begin operation in the
European Union until the legal, regulatory and oversight challenges and
risks have been adequately identified and addressed”.
• Similarly, the Financial Stability Oversight Board in the United Sates
published its annual report which contained ”if a stablecoin became widely
adopted as a means of payment or store of value, disruptions to the
stablecoin system could affect the financial system and the wider economy,
warranting greater regulatory scrutiny”.
• Saga, U.K.-based firm and Facebook’s Libra competitor, launched its SGA
token that is tied to a basket of currencies including the U.S. dollar, euro,
yen and British pound. Saga’s advisory board, which includes top
economists such as Nobel Prize-winner Myron Scholes, hopes to introduce
a global currency that regulators are able to support.
â– BTC News:
• A new Greyscale study suggested that Bitcoin might not be as male
dominated as once thought. The study, which surveyed 1,100 United States
investors ages 25 to 64 who were involved in personal investing and held at
least US$10,000 in investable assets with at least US$50,000 in household
income, demonstrated that 43% of investors interested in Bitcoin were
women.
• CoinShares stated that the hashrate for Bitcoin in China has increased to
66% currently, up from 60% in June. This is an all-time high since
CoinShare started tracking this statistic.
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 continued on a negative path last week, drifting lower
throughout the week before dropping sharply this morning.
• Volumes for the week were higher, averaging 2.42 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):
~$0.476
Website:
https://bitcoin.org
Coin Profile
Bitcoin is a decentralized coin enabling revolutionary
means to exchange value across the globe. It continues
to be the biggest and most influential coin, encouraging
peer-to-peer payment networks powered by its users
with no central or middle authority.
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4,000.00
6,000.00
8,000.00
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12,000.00
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50 SMDA
December 16, 2019
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
Andrei Novikov
andrei@bitvo.growmeconsulting.ca
All figures in USD$, 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$175 (US$133)
December 16, 2019 2:00 pm
â– ETH News:
• Fidelity Digital Assets acknowledged that it is preparing to add Ethereum to its
trading and custody offering. The ultimate decision will be based on client
demand for Ethereum-based products.
• Nike patented ”CryptoKicks”, which will tokenize shoes on the Ethereum
blockchain. The tokens will link to physical shoes as well as allow for the
creation of digital shoes. Digital shoes can be used to create new shoes in a
similar fashion to CryptoKitties, with created shoes carrying traits of the ”parent”
shoes.
• Microsoft is using the Ethereum network to create ”Azure Heroes”, which are
action figure like tokens that will be given out to individuals based on their use of
the Azure community and platform.
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, remaining flat on the year 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:
• Similar to the price of BTC, the price of ETH trended slideways to
slightly negative for most of the week last week before dropping
sharply this morning.
• Volumes for the week averaged 49.37 million coins per day, which is
above previous week’s volumes of 44.44 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
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$50
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50 SMDA
Bitvo.com
December 16, 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$0.27 (US$0.21)
December 16, 2019 2:00 pm
â– XRP News:
• The Federal Register, a journal that is used by the United States
federal government as it pertains to publishing new and proposed
rules as well as public notices, mentioned XRP by name. The journal
noted that XRP is a virtual currency that can be used to for settlement
of cross-boarder money transfers.
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 from January through October.
• However, the price of XRP has outperformed BTC over the past two
months, resulting in the price of XRP gaining momentum versus BTC
since the end of September.
â– Current Environment:
• Similar to other major cryptocurrencies, the price of XRP declined for
most of the week last week in USD terms.
• In terms of BTC, the price of XRP was more volatile last week. Netting
out movements both up and down, the price of XRP ended down on the
week, reversing some of the above noted recent outperformance.
• Volumes for the week averaged 4.26 billion coins per day, which is
lower than the previous week’s volumes of 5.05 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
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$0.30
$0.40
$0.50
$0.60
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50 SMDA
December 16, 2019
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
Andrei Novikov
andrei@bitvo.growmeconsulting.ca
All figures in USD$, 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$260 (US$198)
December 16, 2019 2:00 pm
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 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 a market that seemed to be incredibly correlated last week, the
price of BCH mirrored that of other major cryptocurrencies, trading
sideways to negative throughout the week before dropping sharply
this morning.
• Volumes were higher week-over-week, averaging 5.88 million coins
per day compared to the previous week
‘s 5.43 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):
~$0.0011
Website:
Coin Profile
Bitcoin Cash is peer-to-peer electronic cash for the
Internet. It is fully decentralized, with no central bank and
requires no trusted third parties to operate. Bitcoin Cash
is the continuation of the Bitcoin project as peer-to-peer
digital cash. It is a fork of the Bitcoin blockchain ledger,
with upgraded consensus rules that allow it to grow and
scale.
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50 SMDA
December 16, 2019
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
Andrei Novikov
andrei@bitvo.growmeconsulting.ca
All figures in USD$, 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$53 (US$40)
December 16, 2019 2:00 pm
â– LTC News:
• In a blog post last week, Franklyn Richards, a product developer who
has worked on Bitcoin and Litecoin since 2013, described a pattern
emerging among active Litecoin network addresses.
• According to Richards, an unknown entity is taking ”large periodic
automated actions” on the Litecoin network”. He explained that ”on
average the network typically sees around 40,000 active addresses per
day; however, according to data from bitinfocharts, every 7 days this
value is spiking to over 70,000 before abruptly dropping back down. This
has resulted in an almost sawtooth like pattern that’s pretty evident
given a cursory glance.”
• Richards speculated that the current ”strange” network behavior, which
reportedly started on August 20, 2019, appears to be related to the
August 10, 2019 dust attack that was announced through the official
Binance Twitter account at the time.
• Dusting attacks occur when hackers send a very small amount of
cryptocurrency to a large group of addresses in an attempt to de-
anonymize the addresses when that small amount of cryptocurrency is
subsequently spent by the recipient.
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 recent underperformance, the
price of LTC is down on the year in BTC terms.
â– Current Environment:
• At the risk of sounding like a broken record, the price of LTC followed
suit last week, trading sideways to slightly negative throughout the week
before dropping sharply this morning.
• Volumes last week averaged 58.91 million coins per day which was
higher than the previous week’s volume of 57.21 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):
~$0.035
Website:
https://litecoin.com/
Coin Profile
Litecoin is a peer-to-peer cryptocurrency and
open source software project released under the
MIT/X11 license. Creation and transfer of coins is
based on an open source cryptographic protocol and is
not managed by any central authority. The coin was
inspired by, and in technical details is nearly identical to,
Bitcoin.
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50 SMDA
December 16, 2019
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
Andrei Novikov
andrei@bitvo.growmeconsulting.ca
All figures in USD$, 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$61 (US$47)
December 16, 2019 2:00 pm
â– DASH News:
• Dash has seen a 410% increase in Android devices using the Dash
Wallet in Venezuela from May to November of this year, which
increased from 7,587 active wallets to 39,759 active wallets over seven
months. The term ”active wallet” is defined as a wallet that has been
online within the past 30 days.
• The data supports the growing trend that Venezuelans continue to look
for everyday usable alternatives to their native fiat currency, the
bolivar, as it continues to depreciate.
• PolisPay, a blockchain payments solution, has released two new
cryptocurrency debit cards that can allow users to buy items with Dash.
The first solution is the Epay Mastercard card, which allows Dash to be
spent in over 30 countries. The second card is through a partnership
with card provider Union Pay that provides a more classic debit card-
like solution, where conversions from Dash occur in real time at the
point-of-sale.
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:
• The price of Dash traded sideways for most of the week last week before
dropping sharply this morning.
• Volumes were higher week-over-week, averaging 2.42 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
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$200
$300
$400
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$600
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50 SMDA
December 16, 2019
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
Andrei Novikov
andrei@bitvo.growmeconsulting.ca
All figures in USD$, 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$4.86 (US$3.69)
December 16, 2019 2:00 pm
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 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 experienced some positive momentum throughout
the week last week, both in USD and BTC terms.
• However, this momentum was abruptly halted this morning when the
price of ETC dropped sharply in sympathy of other major
cryptocurrencies.
• Volumes were lower week-over-week, averaging 134.95 million coins
per day compared to the previous week’s volumes of 121.96 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.
0.0
50.0
100.0
150.0
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250.0
$0.00
$1.00
$2.00
$3.00
$4.00
$5.00
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$9.00
$10.00
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Close
50 SMDA
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/
Bitvo.com
December 16, 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
