Bitcoin price dipped, reaching a low of $115,736 on Tuesday after hitting a new all-time high of $123,218 the previous day. BTC recovered from this Tuesday’s dip over the next two days and, at the time of writing on Friday, trades above $120,000.

Bitcoin rose above $118,000 on Friday, extending the token's record-setting rally into its third day.

There are several reasons Bitcoin could reach even greater heights over the second half of the year. Here's why.

MicroStrategy is buying bitcoin again after taking a one-week break. It now owns more than 600,000 bitcoin, valued at more than $73 billion.