Story by: Charles Bovaird
Bitcoin enjoyed sharp gains during the first six months of this year, rising more than 200% as the digital currency benefited from numerous tailwinds.
The cryptocurrency, which started out 2019 below $4,000, climbed to nearly $14,000 in late June, according to CoinDesk data.
The digital asset finished the first half of the year at $11,139.22, returning 202% in that time, additional CoinDesk figures show.
Bitcoin volatility was relatively modest during the first quarter, but increased significantly during the second.
While the digital currency was up only 11.7% year-to-date (YTD) at the end of March, it had risen 44.3%, 131.7% and 201.86% by the end of April, May and June.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
When explaining what drove these gains, some analysts highlighted a variety of potential causes.
Erik Finman, a young entrepreneur and early bitcoin adopter, listed several “key components.”by