Why bitcoin so expensive?

[Dod Ong]

Bitcoin is so expensive if it will be converted to my country's currency it will cost hundred of thousands.
Why bitcoin worth that much even its only a cryptocurrency can someone give me an idea.

The bitcoin is very expensive because if you buy an account here in bitcoin you earned more money than you spent on buying an account here in bitcoin. It is difficult to have your own bitcoin account because there are so many process to create an account. God bless.

[offlinedragon]

Bitcoin is so expensive if it will be converted to my country's currency it will cost hundred of thousands.
Why bitcoin worth that much even its only a cryptocurrency can someone give me an idea.

Before it was just same price as a 1 dollar I think?( Correct me if I'm wrong) but now it is worth 6,073.84 as of 12:48 pm 10/31/17 here in my country. So how it became so expensive? Simply because years had past and the popularity of bitcoins have increased and became widely used globally so obviously the demand for this coins have increased drastically and the price will surely increased as the demand increased. Just think about the tulips on 17th century, the Dutch golden age in the history, the tulips became popular that it cost much more expensive.

Bitcoin is so expensive because of the huge investment from all over the world. the more the investment the high will be the price. When there is a little bit decrease in investment the price of bitcoin falls because the market value of bitcoin is due to its investment and with the huge investment the price will automatically go up. It is the rules of economics. When the demand for anything increases the price of that particular thing also increases.

[Tantlizbat]

Bitcoin is so expensive if it will be converted to my country's currency it will cost hundred of thousands.
Why bitcoin worth that much even its only a cryptocurrency can someone give me an idea.

It will depend also on the supply and demand. I guess the demand of bitcoin is higher and the supply is low. That's why when the supply is low the price will rise. Many people are wanting to buy bitcoin that's why the supply cannot accomodate the demand.

true, btc supply only 21 million. at this time, the price is getting higher because bitcoin has started to be known and accepted by society. While bitcoin price is determined by the market, which is about supply and demand. so in recent years the price is getting higher.

People are favoring the ease provided to them by the bitcoin along with its multiple benefits . This is the reason why its supply and demand is increasing , It is promising people to provide them a bright future and is giving them a chance to invest wisely. These are all reasons behind its increasing worth still it has not stopped yet and is on its way to achieve more.

[patz22]

In my own perception, bitcoin is like a treasure now wherein if you will not do anything (ways to earn coins: bounties,mining,investment etc.) you will not earn any bitcoin/altcoins and to answer this question, bitcoin is expensive because of the demand just like in business economics(supply and demand) wherein if there's a limited supply and a high percent of demand the value will definitely rise.

[meairen]

Because Bitcoin is recognized by more and more people and accepted by people. Bitcoin is scarce, so the price is high, and will always be high.

[javelot]

Bitcoin is valuable because its a great store of value like gold and it's got the biggest brand name of all crypto. That's why Bitcoin is slow and transaction fees are high, its number one priority is security.

[bololord]

Bitcoin is so expensive if it will be converted to my country's currency it will cost hundred of thousands.
Why bitcoin worth that much even its only a cryptocurrency can someone give me an idea.

Based on my opinion the bitcoin is continiously to increase because there's a lot of rich people investing in bitcoin and the supply of bitcoin is limited only so we expect that the value of bitcoin is increasing for a next year and in the future.

[GoodLuck2]

Bitcoin is so expensive if it will be converted to my country's currency it will cost hundred of thousands.
Why bitcoin worth that much even its only a cryptocurrency can someone give me an idea.

Based on my opinion the bitcoin is continiously to increase because there's a lot of rich people investing in bitcoin and the supply of bitcoin is limited only so we expect that the value of bitcoin is increasing for a next year and in the future.

That is the main reason behind the rise of price is the user demand and fortunately people are now well aware about the benefits of bitcoin and this coin will allow them to earn fast and this thing is working in the favor of old investor as well as the price of bitcoin and in future there will be more rise in price because new regions are joining the community and that will be more beneficial for all the investors of world.

[Donaldturp]

Bitcoin is so expensive if it will be converted to my country's currency it will cost hundred of thousands.
Why bitcoin worth that much even its only a cryptocurrency can someone give me an idea.

Bitcoin price depends on the amount of bitcoin ciculating in the market. The more people investing in it, the higher the price gets. The reason why bitcoin price is increasing is just because more and more people getting interested on bitcoin.

Fund and venture capitals are interested in bitcoin. The demand is going up every day. These are the factors affecting its price positively. And people are buying it like non stop. So there is no reason for price to maintain the same.

[Aaroenz0r]

It is maybe a Psychology. When investors can earn profit from Bitcoin easily, many people will buy with any price. This leads to going up of Bitcoin

[Kiweikoo]

It is maybe a Psychology. When investors can earn profit from Bitcoin easily, many people will buy with any price. This leads to going up of Bitcoin

Bitcoin is expensive in light of the fact that there are just 21 Million Bitcoins in the entire world. That number will remain the same, unless and until the entire Bitcoin protocol is changed. Presently 21 Million Bitcoins need to compensate for all the money/wealth in the planet. So the more individuals utilize it, the more costly it will get. As the demand will increase there will be rise in the price.

[perrysaico]

It's no longer expensive!!! It's a great time to buy more now (If you are able to handle the risk)

[Nyenyepogi]

Bitcoin is so expensive if it will be converted to my country's currency it will cost hundred of thousands.
Why bitcoin worth that much even its only a cryptocurrency can someone give me an idea.

Based on my research bitcoin is so expensive because this bitcoin is limited only so the supply is limted and the demand is high so we expect that value of bitcoin continiously to grow fast.

[Mersterious]

Its expensive because its like just a million dollars or billion dollars

[kalawang]

Bitcoin is so expensive if it will be converted to my country's currency it will cost hundred of thousands.
Why bitcoin worth that much even its only a cryptocurrency can someone give me an idea.

Bitcoin is expensive becuase theres a lot of people and rich people investing in bitcoin so the bitcoin is still increasing and i know that in 2018 it will go to the price $8000-$10000

[goaldigger]

Bitcoin is a separate currency unlike those fiat currencies around the world. Its price depends on what currency you have. When its lower that dollars, its more expensive. But if you want to trade here, maybe buy some units that suits on your budget and start from there.

[Mumbeeptind1963]

For me as my opinion, it is so expensive because there will be an increasing number of members, it is acceptable in some banks. Although we already knew that it is world wide currencies that's the another reason why bitcoin is so expensive. Basically bitcoin give a lot opportunity in order to live and stay alive in this world. it is quick currencies.

Only the community bring this into very expensive, as it become highly in demand in the market-the more it will soared high. Of course, we are happy because a big chances of earning more profit as compared in the past days. And today's price, might attract more investors to take a part of this very fast growing investment.

In my opinion if why bitcoin so expensive i think because of high demand of people and continuously increase in number who using it. Also its the low supply of bitcoin is the another reason why bitcoin is expensive.

[pimvinken]

bitcoin used to be very cheap in the past but rightnow its price is so high that we can not afford, since the day it is recognized by investors from all around the world, many bitcoins have been bought by rich and powerful person, that makes the demand for bitcoin rising while the supply is not changing, that the reason why bitcoin is so high now.

[maydna]

For me as my opinion, it is so expensive because there will be an increasing number of members, it is acceptable in some banks. Although we already knew that it is world wide currencies that's the another reason why bitcoin is so expensive. Basically bitcoin give a lot opportunity in order to live and stay alive in this world. it is quick currencies.

Only the community bring this into very expensive, as it become highly in demand in the market-the more it will soared high. Of course, we are happy because a big chances of earning more profit as compared in the past days. And today's price, might attract more investors to take a part of this very fast growing investment.

In my opinion if why bitcoin so expensive i think because of high demand of people and continuously increase in number who using it. Also its the low supply of bitcoin is the another reason why bitcoin is expensive.

i agree with you beside that, people still do buying and selling in any price so the price itself moving from cheap into expensive price and now the price is still good to buy because the price is at lower price. bitcoin community makes the price is cheap and also makes the price is expensive but you can buy bitcoin at any price you want. many people still want to buy bitcoin and makes the price is increase but maybe you won't see the price is at the price now again in future.

[Xember]

Bitcoin is so expensive if it will be converted to my country's currency it will cost hundred of thousands.
Why bitcoin worth that much even its only a cryptocurrency can someone give me an idea.

I think this is probably because it is one of the leading crypto currency out there and it is widely accepted everywhere in the world. Like when you ask someone if they know a crypto currency or as they call it online currency, their answers will mostly be bitcoin. I think this is the reason why it is so expensive.