Bitcoin Hits $15,500 as Post-Election Rally Loses Some Steam
- Institutional support and endorsements underpin token’s gains
- Recent jump belies more conservative daily moves averaging 2%
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Bitcoin extended recent gains in Friday trading, continuing its slow progress toward $16,000 after joining a slew of assets from oil to Asian stocks that rallied in the wake of the U.S. election.
While the token’s weekly advance is starting to look parabolic at 13%, on Friday the move roughly matched its daily average for the past month of about 2%. That’s less than half of the swings notched in the depths of pandemic in March, and well below the average 30-day volatility the digital asset has displayed in more than a decade of trading.