Bitcoin Forum

I have been wondering for a long time why Bitcoin is still rising in value. Ethereum has a better blockchain, but can't follow the pace of Bitcoin.

Bitcoin is also polluting the environment with the PoW algorithm using too much energy for mining. So there is many arguments NOT to use Bitcoin, but why do we still do it?

If you want to trade altcoins on exchanges you almost always trade against Bitcoin instead of USD (or USD Teather). So you NEED to have Bitcoin. I know that more exchanges allow trading against Ethereum and others, but still the most popular marked is BTC/XXX (where xxx is any given coin).

For me it is clear that this has to change to stop the rise in Bitcoin. I think most of us is tired of the long confirmation time in the Bitcoin block chain that can take up to an hour or more.  It's embarrassing for any crypto to have such a long validation time.

I therefore hope that exchanges will adapt USD as the standard measure and stop having Bitcoin/Altcoin pairs.... it will probably not happen. I'm just saying what I would like to see.

I think exactly that is keeping the Bitcoin price high.

Comments?

Also posted here: http://rimbit.dk/showthread.php?tid=656

The PoW system is used by most other major cryptos as well, and equally secure implementations of PoS systems and other systems are nowhere to be found as of yet.
Most major alts (the ones which aren't designed primarily for pump and dumps) can be traded on some of the available exchanges against USD. 
This could be a huge problem for taxation and it would require more complex KYC procedures for those who only want to trade crypto.  Many of these people would prefer to stay anonymous or pseudonymous.

It's a lot more effort trading directly with fiat.

Ethereum will switch to PoS next year.

Yes tax is always a problem. I don't know if USDT can solve that problem so we can use that as our base measurement.

Measuring against Bitcoin is also too hard since you have to use a fraction like 0.000453 BTC. It's hard for the human mind to have any idea of that value.

I agree that fiat is cumbersome. Hope to see crypto taking over someday.

It is still rising and it will continue to rise because there are more supporters Bitcoin has than any other coin. Most of the crypto users hold some amount of BTC in their wallets. Bitcoin has grown so much this year and all of this is because of the new investors investing in Bitcoin these days.
Bitcoin almost doubled last month which shows how much money has flown into Bitcoin and how many coins have been holded by the investors. If people keep buying and holding BTC then it will skyrocket and break all the records.

All records are broken long time ago for Bitcoin.  ;)

Maybe because bitcoin was the first and pathfinders to altcoin... I think ETH is creating a better alternative

Bitcoins are growing, more and more people known bitcoins and they are seeing the benefits of bitocoin, so more and more people used it, the demand for bitcoins is increasing rapidly and it's prices are rising continuously.

I dislike the long confirmation times with Bitcoin. If more start to use it the confirmation time will only get worse. Ethereum scales much better.

The new Cardano (Ada coin) project seems to take the best from Ethereum, Dash, Bitcoin and make a real third generation crypto. One of the guys behind was also part of Ethereum team as far as I understand.

well, that is just your opinion.
in fact ethereum has so many different issues that are even worse than bitcoin's simple issues. i think you are speaking more emotionally than based on facts.

it is not by force, it is by choice.

people see bitcoin as their main investment and the only long term investment that they believe in. so if someone has 1BTC he wants to do something to increase that 1BTC the best way they can. what better to trade and make profit on it. that is why people choose to trade altcoins versus bitcoin when so many markets are availbable such as alt versus: LTC, DOGE, FTC, ETH, USD, USDT,...


the timing on this could not be any more perfect :D

Why is ethereum so slow? (https://bitcointalk.org/index.php?topic=2518295.0)
Ethereum transaction pending for an hour (https://bitcointalk.org/index.php?topic=2520030.0)
Eth transactions conjested (https://bitcointalk.org/index.php?topic=2523638.0)
will my transaction be pending forever (https://www.reddit.com/r/ethereum/comments/7hp8wz/will_my_transaction_be_pending_forever_if_gas)
[ETH] transaction pending forever (https://www.reddit.com/r/ethereum/comments/7hnhmr/transaction_pending_forever/)

and lots and lots more stuck transactions and gas price through the roof just because someone is using Ethereum blockchain the way it is supposed to be used...

People are saying Bitcoin is rising because of Tether being artificially pumped into the price... I don't know if it is real, and hopefully not. :o

Ever heard of the early bird advantage? That is what btc has on its side. Whenever it comes to crypto bitcoin is a brand name and rest of all them merely remain altcoin no one cares that if you have a better blockchain because concepts like this are only understandable by a small percentage of people rest of them are investing in it because it is the new cool these days.

The conversion from btc to usd and vice-versa gets a bit easier when the value of btc is around a multiple of 10 (10, 100, 1000, etc). At a $10k valuation, 0.0001 btc = $1 usd, 0.001 btc = $10 usd, 0.01 btc = $100 usd, and so on. Since btc has climbed above and beyond $10k to its current value of ~$11,700, you can just use $10,000 as the starting point (base or 1.00) to find the btc value for $1 and multiply by 1.17...

I apologize if what I'm saying seems hard to follow... Sometimes I have a hard time explaining things, lol. Basically, to convert btc to the nearest whole usd, at btc's present value, multiply the first four decimal places by 1.17. At $15,000, you'd multiply by 1.5, at $20,000 multiply by 2.0, etc.

Annnyway... I agree with you, OP. The BTC network is outdated and not keeping up with the insane rise in demand and recent transaction confirmation times have been driving me CRAZY, but imo, BTC remains the popular choice due to how long it has been around. The foundation for BTC has been building up over years and years - many people now possess some amount of btc, several companies/vendors etc have adopted it as an alternative currency to usd, euro, other fiat currencies, etc. If an alt crypto is ever going to overtake btc, it'll first have to drum up enough support to build the foundation needed, probably over multiple years at minimum (with the exception being a possible BTC fork, since it would literally be building off of the same foundation as BTC, making it much easier/more seamless for people to switch over to it.)

i have just heard an article on a news talk radio programme talking about BITCOIN,

and a little about ethereum and a little about ripple.

because of its high reaching price bitcoin is attracting a lot of attention and new people are getting into it.

i didnt consider the power consumption needed for bitcoin mining  ???

this is a big negative when we are constantly being told about global warming

what other crypto coin would be better to trade against, litecoin? bitcoincash?

It's going to take a bit of time for Ethereum to beat Bitcoin, we must remember that it's still relatively "new" to the scene while Bitcoin's had quite the head start. Ethereum may be faster, less fees, have better efficiency overall but it still is much less recognized than Bitcoin. The new users and investors brought to the scene are only versed with BTC (after hearing it from YouTube and the news)

Because it has become the trusty matter for the people. So, why not its price will increase.

I think the reason why bitcoin rising it is because of rising community of bitcoin user also it become popular in many country. Therefore bitcoin will still rise even there are fluctuating in price, also because of the rising value of bitcoin many people is become much interested to it.

You kind of answered your own question, the reason bitcoin always rises is because it is the reserve currency of altcoins, all alts are traded against bitcoin and using $ on an exchange comes with a lot of attached regulation.

Bitcoin is not necessarily the best coin but it has the first mover advantage that has given it reserve status. Eventually its dominance will reduce more and more, I mean back in the day on coinmarketcap it was over 90%, now it hovers around 50%, wait for it to be just 10-30% and that's when you will see things change.

Even now you see ETH as a trading pair to other alts on most exchanges, its a slow process but it will happen eventually.

PoS (Proof of Stake) is the green version validation said shortly. Ethereum will switch to that in 2018. Just Google "Pos coins" to have an idea which coins are available. Many has been talking about the 51% attack for PoS coins. I just hope Cordano (Ada coins) figure out a way to solve that problem.

Price of bitcoin is increasing becouse of more and more asking and demand. If you want to drade with cryptocurencies you first have to buy bitcoin or ethereum. Most people is using bitcoin as middle stage betwen real world money and other coins. In last year i heard a lot of news about paying with bitcoins in network and even in every day stores. It is no wonder that price of it is higher and higher.

Bitcoin's price is rising because of the increasing attention in the mainstream media, which is also the cause for the scaling problems. I think you're right about the waste of energy for mining but I think it's necessary to keep the coin decentralized. PoS doesn't feel safe for me, I think the central banks would rather buy 51% of all circulating supply than buying enough hardware to get 51% of the total hash-power. We still use Bitcoin because it was the first, I don't think the features other coins have make them better than Bitcoin. Ethereum showed today that it isn't capable yet to work on it's full potential, the crypto kitty application is the proof for that. Bitcoin core developers are working hard to find a solution for the scaling problem, its just a matter of time. I think there isn't a crypto-currency yet that can handle the traffic Bitcoin has.

Any alt with advanced technology blockchain doesn't mean that it will be better than the bitcoin. Primarily bitcoin introduced the blockchain technology with a very much limited number which turned into a store of value. We have a lot more alts but they are issued on a large scale which makes them cheaper.
Bitcoin being a store of value is used on the exchanges against trading alts. USD will be harder for cryptonians with the issues of taxation while USDT can't be trusted with it's security issues. There are exchanges like Gdax, that accepts USD for trading.
People who have problem with bitcoin are free to use other mediumand options, bitcoin is not bounding anyone to use it.
People who adopt bitcoin and crypto are basically tired of traditional system, fiat and happy with bitcoin.

Bitcoin is some asset that has limited production and a limit of total quantity, Bitcoin is decentralized, also a Crypto - from all means Bitcoin is very popular and an instrument of Investment that promises a high return. So, Bitcoin is rising.

The price of bitcoin is essentially the result of Supply & Demand. Not more, not less.

PoS / PoW changes nothing. Why should ppl mine in PoS Coins? So the coins get centralized  I don't want PoS.

I would rather like to see the mining power getting used for something of use instead of just randomly solving hashes. Could be that some future coin will address this and all those mining hardware is actually brought to a real world use too.

PoS is basically not a good idea because of it's nature.

Bitcoin is the king of the crypto-world and it has right to be on the top. Bitcoin is known to more people than other altcoins. It is the starter of the game and that's a great advantage for it to rise. Bitcoin is accepted in many countries and people love to trade with it.
Bitcoin is better in many ways, the community of Bitcoin is much  larger than the ETH, and all of them believe in it. It is secure and is accepted as a form of payment to many sites and that's why its demand is higher than other altcons. Many businesses use Bitcoin as their main payment processor. Some people, despite being unemployed, are making good profits using Bitcoin as their way of living.
Other altcoins will never be able to replace Bitcoin any soon because its community is huge and yes there are so many people who are mining Bitcoin rather than other altcoins. They mine it because they know its value.

What kind of traffic? Ethereum has been handling ~twice the transactions of bitcoin for weeks now. Maybe you meant dollar volume?

Bitcoin regularly growing till now, I think bitcoin demand is increase day by day and bitcoin community also growing so that bitcoin rises still.  

now will grow other currencies

Think Bitcoin like gold but with 1000 times better. It does not do anything special bu it's value is going up every day. So bitcoin is perfect thing to convert your wealth. Also since bitcoin is the first coin and it began changing the world, it's value is going up daily.

bitcioin is spreading, it is getting attention in the media, more and more people know and use bitcoin. The demand for human about bitcoin is increasing rapidly, so the price of bitcoin has also increased steadily.

It's adoption is still at very early ages, there is a lots of room to grow. It has potential to be used among other financial tools: every household that has RRSPs, 401s, stocks, saving accounts, etc, will eventually have some amount transferred to bitcoins.

Bitcoin is on a rise and will continue to rise simply because it keeps on getting support from people. More and more businesses and entrepreneurs accepts bitcoin as payment now than before, and bitcoin is getting more globally known so price will continue to pump. Yeah Eth have a better blockchain but without that much support from the community it will not rise to bitcoin's level but that could be a good thing as we can invest now and sell in the future.

Ethereum would be a better alternative but people(investors) like to see results and investing in bitcoin gets you results.
This is something unfortunate to learn because AFAIK clean renewable energy(hydroelectricity) is whats used by big mining companies.
Its the father of all cryptos and its just fair that other altcoins are pegged to another crypto and not fiat.

Its a small price to pay but in the long term a fix is needed to get mainstream adoption.

Currently BTC is like a gold in criptocurrency world. It is most famous criptocurrency and a lot of people buy BTC increasing its capitalization and price.

As people's all over the world realise the income benefits behind bitcoin, Due to that demand of bitcoin increases drastically. Thats why price increased like a blast. Betcoin is basically decentralised, operated on internet on any mobile or pc from anywhere in world, so easy to work on it, all these attract people. People invest in bitcoin for better returns. Thats increses price drastically.

For me Ethereum transaction are fast as lightning. Within less than a minute you have multiple confirmations. Maybe it's not perfect but much faster than Bitcoins if you look for the majority of transactions.

Thanks to all who replied.

Much appreciated.

Even though ethereum has a better blockchain, people who are new and investing on crypto currencies for the first time do not know that. The news about crypto currencies are filled with bitcoin. So it is quite obvious that new investors tends to invest on bitcoin rather than choosing any other crypto currency, which causes rise in demand along with price.

Bitcoin price is still rising and it's continuous because now so many people know the benefit of bitcoin. So many people believe on it. So many people use bitcoin. Finally the main reason of rising bitcoin price is the production rate is lower than the demnad.

We can't blame bitcoin for its continuous rise. As you can see, a lot more people want to use it. That in turn coontributes to its price increase. Yes ethereum is a more stable coin. It has more use but the price up of eth is not as much as bitcoin. We cannot compare btc with other coins because btc is the father of crypto. Btc is started as a revolution against centralized currencies or ffiat so all the more we can't use usd for exchanges.

Bitcoin nears 12kUSD levels, sets another record high, it began trading from 5.5kusd on november,12. in two weeks we saw above 11kusd levels, on november 29. Do you look any reason behind this, come on!

I'm pretty confident that BTC is rising in popularity and spreading throughout social media like wild fire. There's been a huge influx of social media advertisements and just ads in general related to cryptocurrency bringing new people into the scene. I can't really see an end to this uptrend as it will continue to spread for quite a while. This is a very interesting time for bitcoin as the potential for growth in a short span of time is huge. I'm very interested to see where we will be in the next 6-12 months, hopefully it will continue to rise as it is bound to drop at some point once things settle down.

as long as the demand is increasing like this, price will keep on increasing. no surprise.

It's because BTC was the first.

Ethereum is what has risen coming of it.
Think of it like this is what Ethereum will be known as
https://bitgiftshop.com/product/vitalik-jesus-all-over-t-shirt-blue/

the opinion of the crowd, if bitcoin to date gives the advantage of why it should be removed, but also bitcoin has been running for so long with a very slick system, so bitcoin is always highest than the others.

Bitcoin price rising in this time due to the popularity of bitcoin self, and so many hype now. You can see and no need technical analysis for this, lots of people turning into hypebeast and buy bitcoin massively although these people do not know about bitcoin and cryptocurrency. That's why the bitcoin price keeps going up.

Because bitcoin provides excellent quality service to their customer; with this they show to the public that they know how to value every customer,
which can gives them good feedback and recommendation that can increase the demand of bitcoin in the market.

I think the best reason behind why bitcoin is still on the top because they know what the needs of their market are.
They know how to adopt and improve themselves in order to provide  a excellent quality service from this many investors are trust and loves which leads them to become number one.

Well precisely because those who manage these pools, usually charge a commission every time one of the miners "affiliated with the cooperative" wants to send their income to their portfolio. That commission varies according to each pool, and also depending on the amount you want to transfer after mining days. I think maybe this kind of demand for one of the main reasons

It a great thing that you see the bitcoins in crypotocurrency is dominating.
The reason behind why the bitcoin is rising up because of their strategy that focusing on how to satisfy the demands of the investor through this they can be able to get a huge demands that will support their services.

Because many countries acknowledge and authorized crypto that's why it continue to grow,we can also say some investor enjoys crypto that why it get grow.

a good statement, and I agree with you.bitcoin always makes everyone confused and disbelieving. within a few months bitcoin was able to reach a value of $ 18000 more, but today is still down.
and I'm sure, more people will invest in bitcoin, so bitcoin will increase.

Like what you have pointed out, BTC will stay dominant because it pioneered and make way for other Cryptocurrencies. Ethereum and other Altcoins was been developed not to compete with Bitcoin, but to improve what it started. Creating new technologies that gives us other options what Bitcoin might be lacking of. The new ones such as BCC are the one trying to compete. Because it created a hype that causes fear to the public that Bitcoin might be down for good. Which I think work out, due to its current market value as evidence. However, there is no coin up to date that can surpass BTC market value. It only shows that even there are other options to start investing in this digital economy, people will stay loyal with Bitcoins, through ups and downs, it will continue to rise up.

I concur with other views of it being the first in Crypto, but the elephant in the room is, that Bitcoin is an asset class/ store of value dare i say like gold bullion.

You invest in gold for the future and to store in your portfolio should you require it at a later date.

When you cash out your gold, sure you need to take it out the safe, call the mint then line up then pay a fee to convert the gold to fiat.

On the other hand you can just walk up to an ATM and draw out the same money a lot faster and buy what you want in an instant.

Its the new gold for the public at large and a store of value for us <100k block height miners / investors long time holders.

Although that is not what Satoshi wanted it has become the default store of value globally.

Its in demand and by a wider community now than 3-4 years ago where it was purely the domain of the programmer / dev /pc nerd.

Its demand wont stop, sure it might wane with the FUD out there but it has by far the most believers in the crypto world.

Belief in Bitcoin is a powerful thing, without it we wouldnt be having this forum or this discussion and it would have disappeared with the EverQuest Platinum of years gone by.

Someone remember the pizza billboard?

That pizza is now worth 21.5 million LOL

Shit's ridiculous and I love it.

I think the reason why bitcoin rising it is because of rising community of bitcoin user also it become popular in many country. Therefore bitcoin will still rise even there are fluctuating in price, also because of the rising value of bitcoin many people is become much interested to it.

         Bitcoin will stay dominant because it pioneered and make way for other Cryptocurrencies. Ethereum and other Altcoins was been developed not to compete with Bitcoin, but to improve what it started. Creating new technologies help to boost up the bitcoin. And i think bitcoin also still rise because of a higher demand in different countries.

Many people questioning the excellence of bitcoins in our industry.  In fact they are still number one and successful along its journey in cryptocurrency. 
The reason behind why they are still number one and rising so high is because of they are flexible and always innovates their system in order to meet and achieve all demands of their investors. 
The bitcoin always focus not on profit but on how to satisfy each demands in order to have a good feedbacks.

Why bitcoin is still rising, its because it is distributed worldwide decentralized digital internet money and because of its phenomenal rise, more and more people are investing to bitcoin. Probably the high demand for bitcoin mainly contributed to the rise of this cryptocurrency.

Yes, and bitcoin will continue to rise for the years to come, I think the reason for that is that bitcoin has not yet reached it's market, today only about 10% of internet users knows or used bitcoin, this suggest that bitcoin has so much room for expansion, and with fix amount of bitcoins in circulation, an increase in demand means increase in price.

As far as cryptocurrency is concern, bitcoin is still at the fore-front. It is actually the first cryptocurrency people reckon with and as such, has gained more popularity than other cryptos, which has made investors to invest in large mass.
Its rise can be dependent on the said reason, and likewise others.

I guess bitcoin is still on the rise and still forging forward because a lot of people are gaining interest  by the day and are likely going to make the demand of bitcoin increase as they join and so the price will continue to rise until that interest in bitcoin and its demand falls.

All the day traders or speculators would always love when their is huge swings happening across days so that it gives them a opportunity to make money. Thus this makes them buy/sell frequently and when the price rises people invest more as they think that it may rise further and thus also one of the reason that price keeps rising.

I agree, ETH is the better alternative of all the altcoins out there. I think some investors are investing now with it especially for small investors just like me, I can't affod to buy bitcoin because of its expensive price.

I think it is because bitcoin is the first cryptocurrency to gain trust from the crypto community and the cryptocurrency that gain trust of most of the crypto people. This event has a great impact to everyone in this community because being the pioneer is a great advancement to the community which is favorable the people here. That's is, i think is the reason why it is still rising, the continuous trust given by people through using it.

It is rise becasue of bitcoin's demand and it is a crypto currency sometime it will be rise and sometime it will be down, and now it is time of bitcoin back up, becasue bitcoin already crossed $13640 before 2 months ago, but still for a long time bitcoin has stayed in this price. 

bitcoin rises is the main reason why eth found. both of coins was POW.
hard mining make bitcoin better because it’s like gold few number make it’s price very high.
The quantity supplied will be few and will be affected by the fluctuation in prices, so the demand will increase and likewise the prices will rise. The base operates in all commodities in the world.

Do not forget that we have revolutionary technology and it will work all over the world, meaning that there are more than 6 billion people who can use it.

Bitcoin keep rising until now because it has many investors. Come to think of it, if there are many investors here in Bitcoin surely there will also be many users in Bitcoin and if there are many users here surely, the value of it will increase big. Besides, bitcoin is the most popular cryptocurrency now so wonder it keeps rising.

Even bitcoin is now very high in value. It is still continue to rise in value due to increasing number of people got involved on it. Many people attracted abd still a lot  potential customers will invested on it. Becuase of that, price become high.

really, Bitcoin's rising prices are turning many new investors into Ethereum, including me who do not want to buy Bitcoin right now because of the overpriced Bitcoin price in my pocket...

It is true if more people are interested and willing this opportunity it will happen bitcoin value is growing up.Bitcoin lots of benefits its true because bitcoin we can use help someone or group of your family if have a emergency and it can use to payment bills of your bill payment.Bitcoin rises still to increase to increase if more people are interested and believe it.

On this forum I have been seeing recently hundreds of thread pages devoted to questions like "bitcoin is growing, but why?" and "bitcoin is falling but why?". Can't you guys decide if it is rising or falling once and for all???? At least on one given day?

Bitcoin is the most widely accepted Cryptocurrency. The moment more places are going to accept it as a form of payment (and they will) will be the moment Bitcoin really explodes and heads to the moon.
I'm a believer in Bitcoin and think it should reach around $50K by the end of 2018!  :)

That is one of the reason why bitcoin is still the most dominant coin amongst all other out there. It is the first one that people recognized and trusted so the way we value it is different than Ethereum. Another thing is that it had gained more popularity than Ethereum even if it has a different concept and features than Eth. But as of now, we can see that Ethereum is slowly rising in price amd we could expect that it could be a lot better for it this year.

I think they still rises because the people still have their trust in them. Especiallythose people who doesn't know bitcoins that mich they only know that bitcoins is the best coins that are existing. Because it is hard to take away the trust that are build to bitcoins because they do no have yet another coin to trust in today but i also suggest ethereum Because if what you say. We need to conserve a lot of wnergy these days.

Thousands of bitcoin users are joining everyday and they jumped in without understanding how it works and how the market works. Due to this, this forum will continuously see this kind of posts since newbies are popping out like mushrooms with the same questions. But this is good for the cryptocurrency community and let us cheer for that.

Bitcoin is seen as a store of wealth, digital gold and for that reason people will continue to hodl it, even with the extremely high transaction fee's. It's a mind set that will take some time to break.

Because people invest in it, that's why.

Bitcoin still rises because people are continues to buy it. As long as people are interested in buying it it will continue to rise.

Bitcoin is the first! Popularization through mining, in the early years, has led to the growth of investors now. The uniqueness of its code has not yet been fully appreciated.

Hi,

Indeed if you consider technical issues, bitcoin is lagging behind. Some of these issues are linked to the fact that bitcoin is the best-known alt coin, so of course, it gathers more users. I am not a technical expert, but I would say that many alt coins would face the very same problems if they were as popular as btc.

What you call for is actually understandable, but I think this won't happen. Not because of any kind of conspiracy or technical limitation, but just because bitcoin is the emblem of all crypto currencies. It was the "first", it is THE historic crypto money.

You can't get rid of a symbol. If bitcoin was to be replaced, I think the community would see many members leaving..  :-[

Yes, bitcoin is still rising because of the support of the people who have trust in bitcoin and keep believing that bitcoin will give them a good investment for rhe future. As we can see also that the price of bitcoin compare to previous years are rising. So I think it is the people that keep investing in bitcoin is thw reason why bitcoin is growing faster.

On Wall Street people have seen a lot of views favor Bitcoin. Although there is still a clear division of thought between banks and Wall Street organizations on the virtual currency, many are on Bitcoin and the names Dimon and Jordan Belfort are stuck. left behind.

The answer to that is because the demand is getting higher and higher. The higher the demand for bitcoin the higher value it may become. It shows only that the volume of investors is so many thats why the demand is getting higher.

yes it still rises, it is because bitcoin is in demand in the market and many users investing everyday in it, thats why the price of it still rises everyday and many uses bitcoin for their everyday transactions.

what about what happened today? Is bitcoin down due to people who know little and also little demand?

I think bitcoin already developed a huge power around itself so now it's almost impossible to change it and to have another coin higher than bitcoin

One reason maybe bitcoin is still the far most popular coins in the cryptocurrency world. And second ethereum may have a bettee blockchain but still bitcoin is still the coins accepted as mode of payment, in which is the fairly reason why bitcoin still has the highest trading value in our crypto market today.

Bitcoin has a volatile value, so we expect for the price increase and price decrease. This is the time bitcoin is decreasing so let's patiently wait for the increasing price. Just don't give up to tour belief so that you will count as a bitcoin loyal. Because your loyalty will bring you to success.

You as right as regards the major reason why bitcoin is still high because it is majorly used on the exchanges to acquire the altcoins. As it is now, ethereum is also now being used which is giving it too more relevance.

Bitcoin achieved the trust of investors and creates their demand and so many reasons are occured with Bitcoin. Bitcoin is the most advanced cin for business. Bitcoin has a stability and acceptance. So many matter are related with Bitcoin for rising its price.

Maybe that is because Bitcoin is still having a high demand on the market even if  its market value is falling. The reason behind this is the trust established by Bitcoin to its users. Users are awared that uts market value will eventually increase no matter how big the dump is. They still choose to hold making the demand high, and letting its market value to recover.

No doubt about this that the increasing demand of bitcoin users is increasing. I think we do not need to sell bitcoin right now but should try to buy more, because still bitcoin is the strongest crypto currencies and very soon its value will start increasing and hope that investing money in such project can be consider as more profitable.

That is why people want Bitcoin. Other than just using it for trading, it has a purpose beyond the markets.

You have to understand that Bitcoin is now entirely a speculative entity. It has no monetary properties any more - high fees, impossible confirmation times, etc. For traders, Bitcoin is just a safe brand, it "sounds" good, nobody of them cares about what Bitcoin is or is not, the only relevant feature of Bitcoin for them is that it must be good for speculating. And, until now, it has always been. That's it.

Because investors are still so panic to jump in out get out! This is a difficult time for bitcoin. But in my opinion everything will be well in February

This is an interesting thought. Perhaps this is one of the reasons that bitcoin is very popular. What you say is not profitable and risky for exchanges, because bitcoin is the strongest cryptocurrency.

Bitcoin is still increasing because the demand for Bitcoin in the world market is increasing. Those states in the world who termed Bitcoin as illegal, are now recognizing Bitcoin as valid. Bitcoin is increasing the standard of living of people. Helping people to get extra money. People can easily meet their daily needs with profit in bitcoin. With the help of Bitcoin, it is being traded anywhere in the world. Finally, due to the excess demand of Bitcoin, its price is still increasing.