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

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


The price of bitcoin hit new 2020 highs as the “alternative to gold” narrative increases. Meanwhile, smaller crypto tokens might be helping push DeFi to new heights.

Bitcoin (BTC) trading around $18,638 as of 21:00 UTC (4 p.m. ET). Gaining 3.5% over the previous 24 hours. Bitcoin’s 24-hour range: $17,723-$18,813 (CoinDesk 20) BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians.

Bitcoin trading on Coinbase since Nov. 18.

Source: TradingView

Bitcoin’s price made gains Friday, going as high as $18,813, according to CoinDesk 20 data. The world’s oldest cryptocurrency then dropped a bit, to $18,638 as of press time. The last time bitcoin traded at the $18,800 level was back on Dec. 19, 2017, when the price went as high as $18,984.

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Daily spot trading on Coinbase since 2017.

Source: TradingView

Some analysts see $19,000 as certainly within reach, but

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