yolowire.com - Bitcoin (CRYPTO: BTC) market capitalization has reached $1.86 trillion U.S., surpassing Google parent company Alphabet (NASDAQ: NASDAQ:GOOGL) to become the fifth-largest asset in the world.
The market cap milestone comes as Bitcoin again trades above $90,000 U.S. as investors return to cryptocurrencies after spending months on the sidelines.
However, this is not the peak of Bitcoin’s valuation.
The biggest Cryptocurrency had a market capitalization above $2 trillion U.S. in January of this year when its price hit at an all-time high of just over $109,000 U.S.
Bitcoin is rallying and currently trading near $94,000 U.S. on optimism for a de-escalation in the trade war between the U.S. and China.
Analysts say BTC has now moved above key resistance levels and has set a record vis-à-vis the Nasdaq Composite index.
Over the past month, Bitcoin’s price slumped to $80,000 U.S. but is now off its April low by about 20%.
Analysts say that investors appear to be returning to crypto as the U.S. dollar languishes near a three-year low and stock markets remain volatile.
Other cryptocurrencies are also rising, with Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE) each up about 8% in the past day.
At its current price near $94,000 U.S., Bitcoin is once again in positive territory on the year, having gained 0.22% since the start of January.