Bitcoin price surge to $16.2K accompanied by record volume

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Bitcoin price surge to $16.2K accompanied by record volume

Bitcoin (BTC) has had a great November so far, and many analysts believe the future remains bright for the top-ranked cryptocurrency.

Currently sitting at $16,000, its price has surged by 23% since the start of the month, rallying mostly after the completion of the United States presidential election. Now, Bitcoin spot volume has passed all previous records in 2020, showcasing the growing demand for acquiring BTC.

The strong rally to $16,200 led Bitcoin spot volumes to rise by more than 270% in the past month. According to a recent report from Arcane research, the daily volume on Nov. 5 was the highest since the Black Thursday crash that brought BTC price below $4,000 on March 13.


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