J.P. Morgan: The cryptocurrency market experienced record growth momentum in November.

On Tuesday, American bank JPMorgan released a research note analyzing important aspects of the cryptocurrency market, specifically Bitcoin and the record surge it experienced last month; noting that November saw a sharp upward momentum for the digital currency.

In this regard, JPMorgan reported that Donald Trump's re-election as President of the United States fueled Bitcoin to unprecedented levels in the cryptocurrency market.

In addition, the American investment bank stated that the market capitalization growth rate of Bitcoin during last November reached 45%, which is the best monthly return rate the cryptocurrency market has seen.

This coincided with exchange-traded funds (ETFs) denominated in Bitcoin in the United States recording another record month in November, while U.S. exchange-traded products (ETPs) also registered record sales during the same period, estimated at around $7.6 billion.