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26 November 2020

Market Wrap: Bitcoin Hits $18.8K as Total Crypto Locked in DeFi Passes $14B - CoinDesk

Market Wrap: Bitcoin Hits $18.8K as Total Crypto Locked in DeFi Passes $14B - CoinDesk


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Some analysts see $19,000 as certainly within reach, but bitcoin won’t shoot straight up getting there, noted John Kramer, a trader at crypto firm GSR.

Despite any cooldown that may occur, bitcoin is certainly hotter than gold so far in 2020, with bitcoin up 147% year to date versus the yellow metal’s 22% performance?

“I expect a lot more media coverage and reinforcement of the narrative around bitcoin being a better alternative to gold in the near future as more and more prominent Wall Street investors like BlackRock are openly sharing their positive views,” said Jason Lau, chief operating officer for San Francisco-based cryptocurrency exchange OKCoin. .

Yeah, I do, because it’s so much more functional than passing a bar of gold around,” Rieder said of bitcoin during the program.

“If one goes by the notion that bitcoin will become a more commonly held asset in traditional space, then there is little that would prevent [ether] in following suit,” Vinokourov told CoinDesk.

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