Crypto Market Capitalization Hits 5-Month High Above $185 Billion
The combined value of the cryptocurrency market rose to $185.89 billion earlier today, its highest level since Nov. 18.
Analysts pointed to the Biden proposal to double capital gains taxes on high-income individuals as the catalyst.
The industry's latest leg up has been fueled by ether and other alternative currencies, with bitcoin's rally pausing this year.
Bitcoin is joined by ether and cardano, which have surged 11% and 53% in the last seven days respectively.
Bitcoin, now worth more than most U.S. corporations, first reached "dollar parity" 10 years ago.
The price could go higher, unless traders start taking profits.