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$9,820 (US$7,572)
January 6, 2020 20 2:00 pm
â– General Cryptocurrency News:
• The French financial market regulator, Autorité des Marchés Financiers,
released rules and guidelines with respect to how cryptocurrency firms can
apply for a Digital Asset Service Provider license.
• The Bahamas government’s digital currency pilot project went live.
Residents of the Bahamas can now register for a “Sand Dollar” wallet. The
Sand Dollar is not a separate cryptocurrency but a new way for the Central
Bank of the Bahamas to print new Bahamian dollar.
• Burger King in Venezuela has started to accept payment in cryptocurrencies
and stablecoins. Vinezuela is experiencing major economic turmoil, which
has in turn increased cryptocurrency adoption rates. Venezuela’s
government has introduced its own digital currency, the petro, which is now
being used to sell iron ore, steel, oil and gold that the country produces.
• Rakuten announced a service which will enable users to convert the
company’s loyalty points into crypto assets. The service is aimed at reducing
barriers of entry to crypto assets.
â– BTC News:
• Bitcoin hash rates started the new year hitting all-time highs of ~119
quintillion hashes per second. Hash rate has been used by some to
correlate to the demand for Bitcoin.
â– Trading History LTM:
• 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 looked for price support.
• Despite the back-half negative trend, the price of BTC ended well up on the year
last year, trading at a level more than double where it started, making it one of
the best performing asset classes of 2019.
â– Current Environment:
• It has been a positive start to 2020 for the price of BTC.
• After dipping below US$7,000 in the first few days of the year, the price of
BTC has since rallied over US$600 to US$7,600.
• Volumes for the week were lower, averaging 2.93 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):
~$0.476
Website:
https://bitcoin.org
Coin Profile
Bitcoin is a decentralized coin enabling revolutionary
means to exchange value across the globe. It continues
to be the biggest and most influential coin, encouraging
peer-to-peer payment networks powered by its users
with no central or middle authority.
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
0.00
2,000.00
4,000.00
6,000.00
8,000.00
10,000.00
12,000.00
14,000.00
5-
Ja
n-
19
5-
Fe
b-
19
5-
M
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-1
9
5-
Ap
r-1
9
5-
M
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-1
9
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-1
9
5-
Ju
l-1
9
5-
Au
g-
19
5-
Se
p-
19
5-
Oc
t-1
9
5-
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-1
9
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De
c-1
9
5-
Ja
n-
20
Close
50 SMDA
January 6, 2020
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
Andrei Novikov
andrei@bitvo.growmeconsulting.ca
All figures in USD$, 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$184 (US$142)
January 6, 2020 20 2:00 pm
â– ETH News:
• Last week the Ethereum blockchain completed a hard fork referred to as
Muir Glacierd.
• The update to Ethereum will delay the increase in difficulty to complete
blocks. This increase in difficulty is now not expected for a few years,
allowing time for ETH 2.0 to undergo further development work,
specifically with respect to the major shift to proof of stake from proof of
work.
• The update also decreased the average block time on the Ethereum
blockchain by almost 25%, from 17.16 seconds to 12.96 seconds
according to data reported by Ethereum block explorer Etherscan.
â– Trading History LTM:
• The price of ETH commenced 2019 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 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 underperformed
BTC, with the price of ETH in BTC terms generally trending down from
February onwards.
â– Current Environment:
• The price of ETH dipped slightly to start the year.
• However, it has since more than recovered, trading higher for most
of the week last week both in USD and BTC terms.
• Volumes for the week averaged 64.98 million coins per day, which is
above previous week’s volumes of 67.33 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
30.0
40.0
50.0
60.0
70.0
80.0
90.0
100.0
$0
$50
$100
$150
$200
$250
$300
$350
$400
5-
Ja
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-1
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9
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-1
9
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9
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20
Close
50 SMDA
Bitvo.com
January 6, 2020
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$0.28 (US$0.22)
January 6, 2020 20 2:00 pm
â– XRP News:
• The price of XRP experienced a significant spike over the weekend,
up over 10% in the past 24 hours.
• Industry experts speculate that the increase was a result of Binance
Futures integration for the coin, combined with strong technical
indicators across the cryptocurrency space.
â– Trading History LTM:
• XRP underperformed other major cryptocurrencies 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 ended down on the year in USD terms and,
as a result of the above noted underperformance versus other
cryptocurrencies, the price of XRP 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 traded sideways in USD and BTC terms for most of
the year to day so far.
• However, as noted above, the price of XRP saw a significant spike
today, both in USD and BTC terms, increasing over 10% in 24 hours.
• Volumes for the week averaged 3.04 billion coins per day, which is
slightly higher than the previous week’s volumes of 3.01 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
10.00
15.00
20.00
25.00
30.00
35.00
40.00
45.00
50.00
$0.00
$0.10
$0.20
$0.30
$0.40
$0.50
$0.60
5-
Ja
n-
19
5-
Fe
b-
19
5-
M
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-1
9
5-
Ap
r-1
9
5-
M
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-1
9
5-
Jun
-1
9
5-
Ju
l-1
9
5-
Au
g-
19
5-
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19
5-
Oc
t-1
9
5-
Nov
-1
9
5-
De
c-1
9
5-
Ja
n-
20
Close
50 SMDA
January 6, 2020
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
Andrei Novikov
andrei@bitvo.growmeconsulting.ca
All figures in USD$, 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$306 (US$236)
January 6, 2020 20 2:00 pm
â– BCH News:
• No significant Bitcoin Cash related news last week.
â– Trading History LTM:
• 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 then trended sideways to negative from the
beginning of April through the end of the year in USD terms and
negatively in BTC terms over the same period.
â– Current Environment:
• The price of BCH has experienced a positive start to 2019, trending
sideways for the first few days before spiking late last week and again
today.
• Price spikes last week occurred in USD terms but also, to a greater
extent, in BTC terms as the price of BCH outperformed that of BTC.
• Volumes were lower week-over-week, averaging 8.44 million coins per
day compared to the previous week
‘s 8.70 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
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
10.0
11.0
12.0
13.0
14.0
$0
$100
$200
$300
$400
$500
$600
5-
Ja
n-
19
5-
Fe
b-
19
5-
M
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-1
9
5-
Ap
r-1
9
5-
M
ay
-1
9
5-
Jun
-1
9
5-
Ju
l-1
9
5-
Au
g-
19
5-
Se
p-
19
5-
Oc
t-1
9
5-
Nov
-1
9
5-
De
c-1
9
5-
Ja
n-
20
Close
50 SMDA
January 6, 2020
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
Andrei Novikov
andrei@bitvo.growmeconsulting.ca
All figures in USD$, 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$59 (US$45)
January 6, 2020 20 2:00 pm
â– LTC News:
• No significant Litecoin related news last week.
â– Trading History LTM:
• 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.
• While the price of LTC in USD terms traded in positive territory for all of
2019, as a result of the above noted underperformance, the price of
LTC ended the year down in BTC terms.
â– Current Environment:
• After falling for the first half of the week last week, the price of LTC
rallied over the weekend recovering prior losses and ending the week up
both in USD and BTC terms.
• Volumes last week averaged 71.17 million coins per day which was
lower than the previous week’s volume of 73.76 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):
~$0.035
Website:
https://litecoin.com/
Coin Profile
Litecoin is a peer-to-peer cryptocurrency and
open source software project released under the
MIT/X11 license. Creation and transfer of coins is
based on an open source cryptographic protocol and is
not managed by any central authority. The coin was
inspired by, and in technical details is nearly identical to,
Bitcoin.
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
0
20
40
60
80
100
120
140
160
5-
Ja
n-
19
5-
Fe
b-
19
5-
M
ar
-1
9
5-
Ap
r-1
9
5-
M
ay
-1
9
5-
Jun
-1
9
5-
Ju
l-1
9
5-
Au
g-
19
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p-
19
5-
Oc
t-1
9
5-
Nov
-1
9
5-
De
c-1
9
5-
Ja
n-
20
Close
50 SMDA
January 6, 2020
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
Andrei Novikov
andrei@bitvo.growmeconsulting.ca
All figures in USD$, 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$72 (US$56)
January 6, 2020 20 2:00 pm
â– DASH News:
• Dash Platform, the long-awaited upgrade to the Dash network formerly
codenamed Evolution, was released to testnet including a developer
documentation portal. This provides a public testnet enabling
developers to experiment with the functionalities of the platform ahead
of full mainnet release.
• Conceptualized in late 2015, the Dash Evolution project aims to
provide a more user-friendly experience to cryptocurrency, using
usernames and contact lists instead of cryptographic addresses and
providing an easy solution for developers unfamiliar with blockchain
technology to build decentralized applications for a variety of purposes.
â– Trading History LTM:
• After a generally stable start to 2019, 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 ended
the year in negative territory both in USD and BTC terms.
â– Current Environment:
• The price of Dash ground sideways for most of the week last week before
accelerating sharply and steadily over the weekend both in USD and BTC
terms.
• Overall, the price of Dash is up over US$15 or over 35% since the
beginning of the year.
• Volumes were lower week-over-week, averaging 3.16 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
$200
5-
Ja
n-
19
5-
Fe
b-
19
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M
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-1
9
5-
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r-1
9
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-1
9
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-1
9
5-
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l-1
9
5-
Au
g-
19
5-
Se
p-
19
5-
Oc
t-1
9
5-
Nov
-1
9
5-
De
c-1
9
5-
Ja
n-
20
Close
50 SMDA
January 6, 2020
Bitvo.com
Shane Thomson, CFA
shane@bitvo.growmeconsulting.ca
Andrei Novikov
andrei@bitvo.growmeconsulting.ca
All figures in USD$, 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
Ethereum Classic (ETC)
C$6.37 (US$4.91)
January 6, 2020 20 2:00 pm
â– ETH Classic News:
• It has been announced that ETC’s upcoming hard fork, Agharta, will
include
features of the ETH hard fork, Constantinople. The intent of this
is to allow
Ethereum Classic to be compatible with Ethereum.
â– Trading History LTM:
•
•
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 generally underperformed other major cryptocurrencies
with
its price trending negatively throughout most of the year in terms of
BTC.
â– Current Environment:
• The price of ETC is also off to a positive start in 2020.
• The price of ETC traded sideways for the first half of last week before
accelerating over the weekend and ending the week in positive territory
in
USD and BTC terms.
• Volumes were lower week-over-week, averaging 173.06 million coins
per
day compared to the previous week’s volumes of 187.14 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
200.0
250.0
$0.00
$1.00
$2.00
$3.00
$4.00
$5.00
$6.00
$7.00
$8.00
$9.00
$10.00
5-
Ja
n-
19
5-
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b-
19
5-
M
ar
-1
9
5-
Ap
r-1
9
5-
M
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-1
9
5-
Jun
-1
9
5-
Ju
l-1
9
5-
Au
g-
19
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Se
p-
19
5-
Oc
t-1
9
5-
Nov
-1
9
5-
De
c-1
9
5-
Ja
n-
20
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/
January 6, 2020
Bitvo.com
Bitvo.com
January 6,
2020
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
