Why is the price of bitcoin so high

[velive08]

bitcoin is now a very rare thing because of many bitcoin minerals, so it's no wonder that bitcoin currently has a very high price. the current status of bitcoin is king in the cryptocurrency world so bitcoin prices will always go up.

[shesheboy]

Bitcoin is so high because it is the base of all altcoins you need to buy bitcoin first before you can buy altcoins. Bitcoin represent the whole crypto currency and it is the superior of them all

no, you can always buy altcoins whenever or whatever you want without buying bitcoin first. the real reason why bitcoin is so high its because more people are buying and investing on it therefore the demand is greater than the supply, that is why bitcoins value is so high. also, altcoins is not the base of bitcoin and both of them are fully independent to each other.

[BlockFolksHQ]

The amount of news in the local television channels have been reporting bitcoin quite regularly now. So it seems like bitcoin is reaching out to the masses more and more. with more adoption rate, the price will naturally be higher.

[terrific]

Look at the altcoin market, there are so much of it and they are helping to make the price of bitcoin pump. Why? Bitcoin is main cryptocurrency and every trader does have their own bitcoin holding. And most of these alt traders after taking the profit on the altcoins they hold are just waiting for bitcoin's price to be at dip. When they have seen the price went down, they will make a lot of buy orders that makes the price of btc high again.

[gorodi]

Probably in a couple of years you will tell yourself: I remember the times when BTC was so cheap that its price was $8000! Mining for BTC becomes more and more difficult, electricity becomes more expensive, and less and less Bitcoins are left.

[raven7886]

Hello,

Im new in crypto and have a question (a stupid one).. I never really gave it much though and now i wonder.

Is price of bitcoin so high (compared to altcoins) because it is so much superior or is it just because it is THE coin - the original one.

Cheers

I do not know the real reason why bitcoin prices are so high but maybe because it has attracted many people to be one of the reasons

You have basically answered yourself. It has attracted a lot of investors and since the value is based on the economic theory of demand and supply, then that is the reason why the value will keep increasing as long as the demand for it is increasingly higher than the supply.

A lot of things are going on in the bitcoin world right now and I believe if the LNs are deployed, it would create a better world for Bitcoin enthusiasts and new investors.

[rasho321]

If you're asking about a news that caused this movement from $8200 to around $8600,i am afraid nobody can tell you why.
because it's all pure manipulation,which mean the price pushed to the top by the whales without proper explanation,
but if you understand how it works i believe you can find a clue that what will happen in the future.
Bitcoin price can not be determined by a common sense,because the whales will try to break every pattern in order to maximize the profit.
for example,
a days ago we heard about problem with Tether,they get hacked by people and lost their money for more than millions dollar,they claimed the money moved to unauthorities Bitcoin address,
because of that news,we could see a big retrace a few days ago.
but in reality,we're not really sure about it because they claimed it by themself.
they made a quick news about hacking and Bitcoin at the same time to trigger the fear and then panic sell happened.
afterwards,the whales pushing the price to the top creating panic buy aka FOMO.

[owenja]

an indication of the upcoming growth of bitcoin is the demand for and popularity of the crypto currency. promotion let the more users know about this currency and about the opportunity to earn it, the more they want to invest their money in is this currency.
the history of the bitcoin rate is rich in constant fluctuations. due to extensive promorion, the btc rate is constantly growing. however, experienced pampers, often invent negative news about btc to collapse the course and make money on it.

[barlo357]

because bitcoin is the pioneer among them if i'm not mistaken and that's why a lot of people now holding a bitcoin they are hoping next year will increase again the value of bitcoin and also the demand of the bitcoin now is so high.

[MCVXYZ]

Because the presence of three subjects is not necessary In this relationships.Now bitcoin price is 9000$ Its a historical result.For me it was not surprise,btc price is running,despite this artificaly created problems.Perhaps the most important factor is trust and popularity,people beleive it because it is extremal secured system,no one can steal your bitcoins.people know that this is a new era of technologies.so technology is changing the dynamic of the business world and Regulations do not have Decisive influence on its price.

[justdimin]

The main reason behind it that its supply is dropping and people want its in their portfolio and want to buy it at any price. In my opinion, it can go upto 1000$v before this year end.

I guess you were trying to say $10000 and not $1000. Right, bitcoin is really making some huge names for itself and a lot of investors are getting interested each and every day, which is why we see the demand increasing.

Like you said, so many people while considering it as an investment have decided to keep holding what they have presently except for those who may have some pressing needs or their job and salary revolves around bitcoin. As long as there is a value for it and over time, the usage for it becomes clearer, bitcoin will always soar.

[Crasengover]

Bitcoin is still the most popular cryptocurrency in the world, so it's not surprising that it continue growing. Almost of the experts predict the price to reach 10000$ in December, and I hope it'll continue growing despite that most of them expect the correction after 10k.

[DOLONCHAPA]

I think bitcoin high price because use bitcoin huge sector and maximum sector use. Thanks

[Mildredmk]

Because Bitcoin is the first cryptocurrency coin soit price has increased because of forks.

[v_Harley]

Know the currency is becoming more and more and more people are willing to hold the currency, and media and news reports all day about the currency, lead to the currency is more and more popular, the currency amount is limited and very safe, have the requirement of finance and investment.

[cryptomngr]

Its created to be this high and will go high even more,i heard the target of BTC is 10k usd before the year ends.

[jemarie20]

Many people ask why bitcoin is very expensive now a days its because there are many people here using bitcoin and invest in bitcoin that contributed why bitcoin price is very high.

[JeBro]

In my opinion, the rapid growth of bitcoin is due to the fact that very large players are entering the cryptocurrency market.
For example, the Chicago Option Exchange (CBOE) has agreed with Gemini's crypto-exchange on partnership, whose goal is to launch derivatives trading on cryptocurrencies as early as 2017.

[ferrybitcoin.1996]

Because bitcoin is limited in the world, and its' cryptocurrency methods make people want to have Bitcoin. Any high demand makes the price risen

[axiline]

More and more people will learn about Bitcoin. After so many years, people begin to believe in bitcoin, everyone buys it and this increases its capitalization.