Why is the price of bitcoin so high

[tricialugtu]

Because we,our technology is now entering the age of digital currencies. Bitcoin is the mother of all the other coins, the pioneer coin, that's why bitcoin will naturally have high price. In another point of view, people are continuously buying bitcoin so it has high price.

[iBlitz22]

besides of being the original one, BTC already proven its name and so many people continuously supports and invests to this coin, so no wonder why the price is so high and keeps on getting high. 

[suncokreten]

There are many reasons for price of Bitcoin being this high.

First of all, it is the pioneer of this industry. Whenever you ask someone about cryptocurrencies, they ask "You mean Bitcoin?".

Secondly, all of the new comers to crypto world first buy Bitcoin, and since crypto is being hot right now and many people are joining, hence the sudden growth.

Thirdly, there is a limited supply that is even decreasing by time. It started with 21m supply, but because of all the lost wallets I believe the supply is reduced by at least 20-30%. When you take into account that no tokens will ever be created again, at one point demand at low price has exceeded the supply and this is why prices have to go up.

[skullsandbones]

Bitcoin is the no1 cryptocurrency, it's been here since day 1 and all other Altcoins came after Bitcoin, hence their name "alt-coins".
The price is of Bitcoin is so high due to its limited supply. And the less that supply gets, the higher the price will be.

[cryptochr]

Simply supply and demand situation happening! Limited Supply of Bitcoin is causing it its price to increase.

[cryptoenterprise]

The more users invest in Bitcoin the less the supply gets the higher the value of the coin gets.
Yes its supply and demand situation. It's also a chain reaction, if Bitcoin goes further up this should help altcoins rise too!

[munareal]

Bitcoin is so high in price because the mainstream society are beginning to understand crypto currency and are accepting it . It is the only digital currency that can guarantee profit either for long term or short term investment for now.Many company are allowing payment in bitcoin only and big companies are now investing in crypto currencies.The price of digital currencies are not stable and it might drop any time.

[Fretcy]

The price of bitcoins increases every year as the word of bitcoins and blockchain community spreads easily world wide and more user's are entering the bitcoin community from all over the planet and due to the digitalization, globalization and easiness of use in this bitcoin technology has also attracted more investors in the crypto and bitcoin market. Bitcoin is the first crypto currency used worldwide in the crypto market so it is also called the king in the crypto market, this technology has changed the way of exchanging or doing e-commerce world wide.

[jbautistangina]

I got a korean insider,he said chinese/koreans will pump the BTC to 10k so that it will clogged and then they will move to the BCH to claim the throne.If BTC reaches 10k and clogged the price will drop so the chinese/koreans will annouce the real bitcoin which is BCH.

[ask]

There are too many reasons. For me fake tethers (Now they say that its stolen) bitcoin price is rising.
And also don't forget new buyers first time investors and while all these happening demand remains same.

[ArrogantPeacock]

there is a lot of demand currently and that drives up the price. When demand is higher than the supply of something the price goes up, in BTC's case the price is going up because many new participants in the market want to buy BTC, they are hearing the news about BTC being integrated as a future in the CME group, and they are sure that this will drive institutional investors to invest in BTC, so everyone is buying now BTC in anticipation that the price will continue to go up. It has already performed very good within this year, going from around 800 to over 8k, which is kinda insane if you think of it. Everyone is making money at the moment which makes you kinda wonder whether we are in a bubble or whether this entire thing is sustainable.

[priyankg3]

i Found it more superior because investors loves the bitcoin and volume still increasing.

[CTO@MyBitMine]

Demand gives rise to the offer, every one who knows abut crypto now, wants to buy bitcoins, and with each day more and more people starts to learn about crypto.

[Wickedwitch28]

I think bitcoin is the main in cryptocurrencies because it is the Break through of cryptocurrency. When i first heard bitcoin it was only 500$ and now who would have thought it went up to 8000$.

[adamov10]

do you think it will dip soon?

[Praetorian.1legion]

Because as the Germans say, there are Mercedes and BMW, and there are other cars. I think there are a lot of information on the forum, but this is the main message.

[VackFromOhm]

There are a lot of reasons why bitcoin is so high! Not only is it the oldest cryptocurrency, but it has been shown to be the most trustworthy because of the fact that it is so old and that no one team controls the coin. Any new coins you see today have all of this superficial technology to try and promote them.. Bitcoin is cryptocurrency in its purest form, and set the standard for everything to come. People have gotten used to it and so they trust it more. Plus it is the sole currency for basically all of the darknet markets and such so it makes sense that with millions of dollars being spent each year that the value would be high.

[sakokinak]

I got a korean insider,he said chinese/koreans will pump the BTC to 10k so that it will clogged and then they will move to the BCH to claim the throne.If BTC reaches 10k and clogged the price will drop so the chinese/koreans will annouce the real bitcoin which is BCH.

Is this information reliable? Bitcoin will certainly grow to $ 10,000, but I'm not sure that after reaching such a mark, it will cease to grow so fast. It is influenced by many countries, not just China and Korea.

[dio1715]

Still very important is the fact that many coins were irretrievably lost at an early stage. When people did not understand what it was, they prine neglected their coins. The ethereum has followed this path paying attention to all the mistakes in the development and launching of the coin into the masses of people.

[lepricoin]

The price of bitcoin will increase with the growth of people involved in bitcoin. According to specialists, bitkoin even now has not reached that price, according to its prospects and people interested in it.