Why is the price of bitcoin so high

[Skortish]

Basically Bitcoin price is high among other coins because it was the first to be used and its usage is more popular than that of other coins.

[ardodd]

BTC's price is a secret for me. It is so high now because BTC is the base of the cryptocurrency market and everything depends on BTC so it gets a part of benefit from each move of market I think.

[FishsHumnsToo]

Bitcoin is first and foremost a means of accumulation. I can also quote Durov that the appearance of bitcoin — " a chance to exit the global financial system from the us dollar hegemony"

[AleSergio]

Its because people accepts bitcoin in many country wherein some people are not aware in altcoin or any other crytocurrency. The price of bitcoin is so high because this is the first cryptocurrency and it became popular to other country thats why many investor or trader choose bitcoin as their coin.

Some countries accept altcoins also, so it is difficult to say that the price of bitcoin depends on such suggestion. The price is high because circulation supply is not so big, as for example ETH has 101m and btc only ~17m, ETH has gained its popularity and price much more faster than BTC =)

[Chirs]

the most important factor because the amount of bitcoin is limited, it makes the price soar. and bitcoin is the first coin in crypto, before the other coins appear, everyone wants bitcoin so the bitcoin price is very high today.

[KiloWatts]

Price bitcoins is attributed to a simple economic theory of demand and supply. Also bitcoin is nominated worldwide.

[scoutcoin]

First reason is because bitcoin is globally recognized throughout the world and that way many investors adopt it and  invest their money instead of putting it in the bank.And the demand of bitcoin makes the price soo high and of course the low supply the big possibilities to make its value grow up.

[neogel]

Thinking, when Bitcoin is back again (increasing day by day), Altcoin is downing. Someone says: Left these altcoins, return Bitcoin and reserve

[btcformula]

 Demand is what drives any commodity and when the demand of bitcoins increased then the price and value of the coin increased accordingly. When people want something, then there is more demand than the supply which makes the commodity scarce this the reason that the prices are down now is because there is more supply than demand.

[democity]

Because it's the first coin. It is also an important wind vane in the market, and too many people support bitcoin.

[Rudi Setya]

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

The price of any coin is dependent on many factors,  most importantly it is dependent on how much buyers are willing to pay to get the coin.... That's what made bitcoin superior

Bitcoin's increasing supporters are bringing the price of Bitcoin itself so high. resulting in considerable profit. it also affects the existing Bitcoin price and makes it an expensive coin. so this price can be influenced by the presence of support.

[Tvshpeople]

Yes bitcoin is the mother of all coin you can think of. Besides, it has become widely accepted for transactions at least to some extent, therefore the demand for it is on the rise which eventually shoot up the price/

[franciscoDC]

Basically because of the user that increasing day by day ,for me there is a lot of reasons why bitcoin price was getting high ,another example of some news about it or any partnership that already accepted bitcoin.

[Sevaev]

There are many reasons for Bitcoin price is growing so high. Huge publicity in the market becomes a great advantage. Big investors dominate the market, to pump its price. People around the world are using Bitcoin as an alternate source of hiding money from the government is also a big reason.

[jurelmartin]

The price of bitcoin is created based on how people think how much it worth, from the year it was created up to this year there are a lot of trust have been put into bitcoin by the users around it and believes in it, so making this huge population of trust means it is truly valuable, thats what make bitcoin price is high

[Cryptokingind]

Bitcoin price is high because demand of bitcoin is verybhigh and supply is linmited.Bitcoin is the first and base currency of this crypto market. Bitcoin is on number one position in this crypto market and no any other coin can reach at this level in near future in my personal views.

[speedy1987]

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

Not because of much superior. Actually bitcoin is very popular then other altcoin. So most of them using bitcoin and day by day bitcoin users are increasing. Bitcoin is a limited currency so obviously if users increasing price also will be high.

[irenegaming]

The price of Bitcoin is directly related to the demand it has. If people didn't think that Bitcoin was worth buying at these rates than it wouldn't be worth this much. There are more millionaires in this world than there are ever going to be Bitcoins, just think about that for a second.

[MrKubemm]

I see that in the market there has been another correction and the 10k level has been lowered - that means he could not restrain the market's turn. It turns out about the maxima, even if local ones can and do not dream in the near future. I would like to believe that bitcoin will drop again to levels of 5-7k. Then you can safely buy and then wait patiently for the end of the year. December and November as well as in the last year of 2017 will show us new historical highs, I do not doubt it!

[Kilomans]

Analysis of the last week shows that the market is actually recovering, because the price of bitcoins is growing today. The increased demand for the purchase, so for me it is a good sign that the market is recovering from the moment of its discharge, I hope that this will continue to accumulate before the end of this year. And this pleases me today.