Why does bitcoin have such a big value/currency

[jekjekman]

Why does bitcoin is such a big currency when converted in real money ?

There are many factors that affects the price of bitcoin but the most important one is the law of supply and demand. Unlike your local fiat system which has almost unlimited supply Bitcoin only has a maximum of 21 million pieces once everything is mined and this amount can't be increased but rather keeps on decreasing due to people forgetting their wallet passwords and people dying without passing their password to their kin.

Bitcoin's price will keep on increasing as time goes by specially when more and more people becomes aware of it and sees that it has uses. But I think the reason why it's price is going high right now is because of people's greed.

[MarkusIsaiah]

I think bitcoin have a big value because of its demand and bitcoin now is more traded one of the reason why the value of bitcoin increasing. bitcoin is a big currency it has a potential to our economy.

[rurubot]

You can relate this to the law of supply and demand. The price of Bitcoin is determined by the market (Buyers and Sellers). The price is high because the buyers are willing to buy at this price. The same logic applies when there are bad news and sellers are willing to sell at lower price, Bitcoin price will go down. 

That is true sir. I believe it is due to the willingness of the buyers to purchase at this price. And also according to one of my sources, one of the factors is that the banks and the government institutions have no direct control with transactions where bitcoin is involve.

[Dreamchaser21]

I think bitcoin have a big value because of its demand and bitcoin now is more traded one of the reason why the value of bitcoin increasing. bitcoin is a big currency it has a potential to our economy.

The demand for bitcoin really increased and because of limited supply the price of bitcoin is high. People are now adopting this great system and by this the price will surely pump. A great opportunity for everyone who believe on this to make good money in long run.

[jseverson]

Why not? Bitcoin has been incredibly popular nowadays, and everyone who's even a tiny bit open minded wants in on the action. The more people who buy in, the higher the price gets. As people have been saying, you can chalk that up to supply and demand.

It's pretty funny, really. The higher the price goes, the more people want to ride the wave. The more people want to ride the wave, the higher the price goes. If you look at it that way, it's not hard to see why and how Bitcoin has been incredibly bullish. We're getting some real momentum, and it doesn't look like it's stopping anytime soon.