Bitvo.com
Bitcoin (BTC)
C$13,061 (US$9,848)
September 23, 2019 3:00 pm
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
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:
21mm
POW or POS:
WORK
Current Mining Fee (USD):
~$0.645
Website:
https://bitcoin.org
September 23, 2019
All figures in USD$, unless otherwise specified
LOG IN TO VIEW
â– General Cryptocurrency News:
•
After Bitcoin outperformed other digital assets for most of 2019, interest in
altcoins came back to life last week with major cryptocurrencies rising, some
over 20% on the week.
•
Wells Fargo & Company joins the list of banks and government bodies with
plans to pilot a stable coin. The coin is said to be called “Wells Fargo Digital
Cash” and will be backed by US dollars.
•
Police in the United Kingdom are set to auction criminally-seized
cryptocurrency this week including US$662,000 (£500,000) worth of Bitcoin,
a reported first for the country. Police reportedly seized the coins from a
criminal who had illegally sold personal data and provided hacking services
in exchange for cryptocurrency. Other assets to be auctioned include Ether,
XRP, and other unnamed tokens.
•
The Director of China’s Research Institution on Digital Currency conceded
that, although China is against Facebook’s Libra, it might be impossible to
stop its use. Libra continues to face criticism from governments globally due
to fear that it will take away their influence over the money supply.
â– BTC News:
•
After thirteen months and two delays, Bakkt launched its Bitcoin futures
product today to institutional investors. Trading opened at midnight UTC and
closes at 22:00. Bakkt’s futures will be physically settled, meaning buyers
receive Bitcoin at expiration, whereas the futures available since 2017 at the
Chicago exchange CME Group are cash-settled. Bakkt’s Bitcoin futures
contracts expire after one day. According to the daily contract’s
specifications, the Bitcoin will be delivered on the second business day after
the contract’s expiry date.
•
The CME Group announced that it will be releasing options for its Bitcoin
futures sometime in early 2020. According to Tim McCourt, the Head of
Equity Index and Alternative Investment Products at CME Group, the launch
of Bitcoin options will provide clients “with additional flexibility to trade and
hedge their Bitcoin price risk”.
â– Trading History YTD:
•
Since the end of June, the price of BTC has traded sideways to slightly
negative with successive peaks achieving lower highs but finding support in
troughs around US$10,000.
â– Current Environment:
•
The price of BTC trended negative most of the week last week, while other
coins rose almost universally, particularly in the first half of the week.
•
Volumes for the week were similar, averaging 1.5 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:
107mm
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$274(US$207)
September 23, 2019 3:00 pm
All figures in USD$, unless otherwise specified
Page 2 of 8
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
403.407.0046
~$0.129
Current Mining Fee (USD):
LOG IN TO VIEW
â– ETH News:
•
The price of Ether rose last week as part of a broader altcoin rally.
•
Additionally, the price of Ether was likely supported by the news
that tests are underway to improve network performance and
reduce transaction fees, potentially increasing capacity by 25%.
•
Bitpay announced that they will start supporting the Ethereum
blockchain, allowing Ether to be used as payment across all of the
countries that Bitpay services.
â– Trading History YTD:
•
The price of ETH commenced the year relatively stable before
accelerating in May and then falling throughout the summer
months.
•
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:
•
The price of ETH regained momentum last week, rising sharply in
the first half of the week before tapering off in the latter half of the
week.
•
ETH outperformed BTC for the first time in many months, rising
both in BTC and USD terms.
•
Volumes for the week averaged 41.7 million coins per day, which is
higher than the previous week’s volumes of 35.3 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.
September 23, 2019
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$0.37 (US$0.28)
September 23, 2019 3:00 pm
All figures in USD$, unless otherwise specified
Page 3 of 8
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
403.407.0046
~$0.0003
Current Mining Fee (USD):
LOG IN TO VIEW
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 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.
â– Current Environment:
•
XRP participated in last week’s altcoin rally, with its price increasing
sharply in the first half of the week before stabilizing in the second half
of the week.
•
Volumes for the week averaged 5.74 billion coins per day, which is
higher than the previous week’s volumes of 3.78 billion coins per day.
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
September 23, 2019
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$405 (US$305)
September 23, 2019 3:00 pm
All figures in USD$, unless otherwise specified
Page 4 of 8
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
403.407.0046
~$0.0011
Current Mining Fee (USD):
LOG IN TO VIEW
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 since the beginning of April in
USD terms and negative in BTC terms over the same period.
â– Current Environment:
•
The price of BCH participated in the altcoin rally at the beginning of
last week.
•
However, it did not manage to hold on to gains the way others did with
its price falling sharply mid-week and the tapering lower later in the
week.
•
Overall, the price of BCH ended the week approximately where it
began, both in USD and BTC terms.
•
Volumes were higher week-over-week, averaging 4.9 million coins per
day compared to the previous week’s 4.2 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.
September 23, 2019
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$95 (US$72)
September 23, 2019 3:00 pm
All figures in USD$, unless otherwise specified
Page 5 of 8
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
403.407.0046
~$0.035
Current Mining Fee (USD):
LOG IN TO VIEW
â– LTC News:
•
The Litecoin Foundation announced a partnership with Celsius Network
that will allow customers to borrow Litecoin from the Foundation.
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 Litecoin rose sharply to start the week last week alongside
other altcoins.
•
However, Litecoin lost most of its gain on the week, ending the week
only slightly higher in USD terms.
•
Given the underperformance of BTC last week, the price of Litecoin rose
in BTC terms.
•
Volumes last week averaged 40.8 million coins per day which was
higher than the previous week’s volume of 35.8 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.
September 23, 2019
â– DASH News:
•
Cryptocurrency travel booking service XcelTrip integrated Dash last
week. The travel booking service enables individuals to book over
800,000 hotels and over 400 airlines with cryptocurrency, now including
Dash.
•
XcelTrip enables purchasing via iOS, Android, and web and pass their
cost savings back to consumers via a cash back service that immediately
credits consumers on 15% of their bookings.
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 throughout the
summer months.
•
Accounting for movements both up and down, the price of Dash in USD
terms remains in positive territory for the year.
•
However, given Dash’s underperformance versus BTC, the price of Dash
has trended negatively since the end of March in BTC terms.
â– Current Environment:
•
Dash failed to participate in last week’s altcoin rally.
•
The price of Dash was volatile throughout the week. After accounting for
movements both up and down, the price of Dash ended the week lower in
USD terms.
•
However, given BTC’s poor performance last week, the price of Dash
ended the week up slightly in BTC terms.
•
Volumes were similar week-over-week, averaging 1.5 million coins per
day.
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$119 (US$90)
September 23, 2019 3:00 pm
All figures in USD$, unless otherwise specified
Page 6 of 8
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
403.407.0046
~$0.006
Current Mining Fee (USD):
LOG IN TO VIEW
In the image above, a Bull represents relatively favourable technical analysis indicators and a Bear represents relatively unfavourable technical analysis indicators.
September 23, 2019
Bitvo.com
Technical Trading Score*:
Date Of Inception:
2016
Primary Use:
112 mm
Coins Outstanding:
Maximum Coins:
POW or POS:
WORK
Website:
https://ethereumclassic.org/
Ethereum Classic (ETC)
C$7.96 (US$6.00)
September 23, 2019 3:00 pm
All figures in USD$, unless otherwise specified
Page 7 of 8
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
403.407.0046
~$0.002
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
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 over the summer months 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 did not participate in the altcoin rally last week,
ending the week down both in USD and BTC terms.
•
Volumes were higher week-over-week, averaging 82.1 million coins
per day compared to the previous week’s volumes of 77.0 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.
September 23, 2019
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
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
September 23, 2019
