Why bitcoin so expensive?

[heureca]

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 is rather simple. BTC amount is limited - 16 690 300 BTC. Every day amount of people who want to buy BTC increases. So more people buy BTC more BTC price.

[jacobmayes94]

I would say its supply/demand economics plus some whales here and there. With a 21 million supply, supply/demand will always be a problem, 7 billion people vs 21 million full bitcoins, makes sense to own at least one while you can. I prefer to buy the coins over mining even.

Not counting all the bitcoin to which the keys have been lost.

[bukikbarisan]

It depends on the currency, but very good for it is that bitcoin is really amazing to invest because you can see the more expensive potential income you can get, if you really have the will to invest, try a few some and you'll see the result, no need how much you will buy it is up to you how much you can afford.

[Shendy23]

i guess the reason why bitcoin is expensive because of the people who buy it and invest on it, the more people investing on bitcoin the higher of value it will become. also bitcoin is the new calculation of money in higher value, acquiring 1BTC is not so easy unless you have many miner so bitcoin is expensive because of how you get it. its like in gold, it has a high value yet so rare to find and not easy to mine. thats why its expensive.

[jackinana]

I reckon it has something to do with the limited supply bitcoin, it is getting more difficult to mine.

[Pettuh4]

I would say its supply/demand economics plus some whales here and there. With a 21 million supply, supply/demand will always be a problem, 7 billion people vs 21 million full bitcoins, makes sense to own at least one while you can. I prefer to buy the coins over mining even.

Not counting all the bitcoin to which the keys have been lost.

Well that's because mining has gone out of your league, gone were the days when you could mine 1000 bitcoins with a laptop and i wouldn't have bought them if i could do that now and  so it s understandable where you are coming from but  for me if ui had the means i will rather set up a mine and mine them rather than buy one coin  for 8k$.

[James Messy]

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.

This is because of the craze of Bitcoin among the users and investors. This is one of the reasons for the increase in the demands of the Bitcoin. And it will continue to grow.

[Bruce1614]

It relies upon the cash, yet as a decent point to that will be that bitcoin is truly an awesome to contribute with as should be obvious the more it end up plainly costly the more potential profit you could have, on the off chance that you truly have the guts to contribute at that point attempt somewhat a few and you would see the result, it isn't essential the amount you will get it is dependent upon you the amount you are ready.

[BenR]

Just be glad you don't live in Zimbabwe - over there it was trading at almost twice the accepted worldwide price. https://cointelegraph.com/news/bitcoin-demand-surges-in-zimbabwe-following-successful-coup.

[Fasdartin]

Because now BTC is popular. It`s future of P2P!

Bitcoin become expensive because of its limited in supply and its demand is increasing everyday. Although is expensive there much more who willing to buy or to use bitcoin because they know they can be able to get much profit from it.

[werner52911]

Every day, there are thousands of people who first hear about BTC and the cheap options around the BTC, so the coin is becoming increasingly popular.
These people go to the BTC because you want to profit from it.

In some countries, there is a very high infaltion or political unrest, then the escape into the BTC is the logical consequence.

Last but not least, the big funds (hedge funds) that are fueling the hunt for quick profits.

This are some reasons why the BTC will be more expensive in the nearly future.

[hookcoin]

Bitcoin is expensive because bitcoin is used by the community too much. In addition, the amount of bitcoin that exists is so small that it creates a bitcoin scarcity that makes its value continue to increase day by day. I think the value of bitcoin will increase in the future.

[Christian13]

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.

As of now bitcoin become so expensive and many people still hold their bitcoin because they it will rapidly increase in the future so that they could gain much income. Furthermore, even the price of bitcoin was too expensive you must still buy or invest because having bitcoin is a chance to have better life.

[akmittal]

Bitcoin is the most valuable asset in the world. But the price of Bitcoin is the best marketing strategy. The marketing converted the useless thing into most valuable asset.

[valisa]

bitcoin is expensive because most people are bitcoin so the price in the market keeps rising, or perhaps because of the impact of bitcoin hardfork, but I read on the news hardfrok bitcoin failed, but strangely many people who still hold the bitcoin.

[meanwords]

You can find more answer around the internet why Bitcoin is expensive. So why is it expensive? The price of Bitcoin depends on the market, If the demand is high then the price too is high and if the demand is low so as its price. Another reason is that because of its technology, Transfer money anonymously? who doesn't want that right? and its decentralized so you hold your money as long as you want without anyone interfering.

[Shannykhan44]

In March of 2010, an enterprising early Bitcoin adoptee named “SmokeTooMuch” offered to sell 10,000 bitcoins for $50. No one took them up on their offer. At the time, Bitcoin was worth almost nothing for more than a year. No markets existed to exchange bitcoins. Few people actually knew about or used the cryptocurrency. Bitcoin existed as little more than a really cool idea and nothing more.
Around May and June of the same year, the cryptocurrency became worth around 1 U.S. cent. As more people learned about the technology behind cryptocurrencies, Bitcoin’s value grew until it was worth one U.S. dollar in Spring of 2011.
Now, Bitcoin is worth roughly $2700. SmokeTooMuch’s $50 offer would be worth $27 million today.BTC The cryptocurrency has seen rises, crashes, and everything in between. Yet in the last month, the cryptocurrency increased by a whopping $600+ in value.
But how did this new currency grow so fast in such a short amount of time.

[marcbitcoins]

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.

This explains the law of supply and demand in which if many are selling their bitcoin the price will fall down because it is looks like there are plenty of bitcoin supply but if lot of people want to buy more bitcoin while the bitcoin holders don't want to sell or keep on hoarding their bitcoin this will result to the supply becomes limited making the the price value will rise up.

[A Feeder]

Technically, the value of bitcoin is unpredictable. It can increase or decrease its value drastically because it is a type of currency that is decentralized.

[ongels]

Bitcoin is very expensive because it has only a limited number in nature. It is also very popular, the supply are less and demand are very high. This makes people yearning to have lots of bitcoins to earn more more money:)