Bitcoin, the cryptocurrency that started it all.
Many other cryptocurrencies have spawned following the launch of Bitcoin.
Indeed, its an entirely new creation from a code perspective.
Its safe to say without it, digital currencies probably wouldnt be where they are today.
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Bitcoin/USD Q1 performance recap
Bitcoin is often criticized for its volatility.
However, in perhaps uncharacteristic form, Bitcoin wasrelatively stable in the first quarter of 2019.
Unfortunately, this small jump was short-lived.
Within a month, Bitcoins trading values dropped to a low of $3,358 on February 7.
However, from here on in, Bitcoin demonstrated some relative stability.
Over Q2 Bitcoin set numerous records for reaching prices that havent been seen in the last 12 months.
Within three days of the quarter opening Bitcoins price rose sharply by 28 percent to reach $5,297.
For the remainder of April, Bitcoin once again displayed an uncharacteristic stability.
Its price fluctuated between a low of $4,851 and a high of $5,580.
On May 1, Bitcoin was trading at $5,304.
By May 15 its price had increased to $8,148, a strong 53-percent increase.
However, by June 12 Bitcoin entered its third, and most substantial, rally of the quarter.
If ever there was proof that the crypto-winter is behind us, this might be it.
Bitcoins price dropped slightly, to shut the quarter at $11,363.
Bitcoins hash rate also grew steadily over the quarter too.
In June, Bitcoins web link healthcontinued to show promise.
As such, the wider cryptocurrency market has failed to keep up with Bitcoins Q2 pace.
Bitcoin is never without its critics, though.
Perhaps also worthy of mentioning, despite not actually being Bitcoin, isFacebooks digital asset Libra.
After months of rumors, Facebook ripped the band-aid off and made an official announcement in mid-June.
Shortly after, Bitcoins price went skyward.Some reportshave claimedthe announcement was responsible for this boost.
Whether they are connected or not is debatable.
But it is undeniable that the social media giants digital asset has caught the attention of the cryptocurrency industry.
Despite the challenges, Bitcoin has had one of the strongest quarters yet.
Its market dominance reaching ahigh that its not seen since 2017.
In the first week of Q3 at least.
In the second week of Q3,amid Facebooks Libra Senate hearing, Bitcoin has been struggling.
With every passing month the next Bitcoinmining reward halving gets closer, though.
Sometimes, cryptocurrencies rally as they head towards such a milestone.
Story byMatthew Beedham
Matthew is the editor of SHIFT.
He likes electric cars, and other things with wheels, wings, or hulls.
