Why is the price of bitcoin so high

[Sanderion]

Bitcoin costs exactly as much as people appreciate it. After all, this is not an equity for which dividends are paid. But if you think that Bitcoin is expensive, you are very mistaken. Most people have not yet appreciated all the advantages that Bitcoin gives them. As far as I know, only 5% of people use cryptocurrencies. This number will invariably grow and with it the price will grow. According to my estimates, Bitcoin should cost at least $ 100k after its introduction into the real sector of the economy.

[cryptolidus]

The max supply for Bitcoin is 21 million and only 17 million circulating out of it. So, the low supply is one of the reasons for high price of BTC . Other reasons are that it is the most secure and superior coin, the " original " one as you mentioned.

[Guli]

Bitcoin is a that coin with which a cryto world create and everyone taking interest in this world. It is the original one, so its superior. The main reason of Bitcoin price is high is- bitcoin is nominated worldwide and is acceptable at most places. Bitcoin is king of crypto world.

[GokeVN]

It would be difficult to justify with solid foundations that the price that bitcoin currently has is the intrinsic value it really deserves, because it is well known that, in the end, it is the market (buyers and sellers) who succinctly agree on the minimum price to which a bitcoin must be negotiated, obeying the laws of supply and demand that characterize an open market. As mentioned earlier, Bitcoin has a constant amount and is not controlled by the central authority, which means Bitcoin has a good reliability. In addition, Bitcoin can invest through the Internet, while the traditional investment threshold is relatively high, so the speed of capital to enter Bitcoin is particularly fast. Bitcoin prices have been less stable, which is also related to the nature of the fast-forward Internet. The current economic situation is prompting the rapid flow of capital into Bitcoin.

[warwar]

Well, as per me there are two factors basis which price of Bitcoin is getting determined

Supply of Bitcoin is limited to 21 million and yet all bitcoins have not been issued in the market which surges it's price. Apply the logic of price of a Gold here. We know that supply of Gold is controlled by the mining and mainframe Gold trading companies which makes it precious. Further, now when the prices have surged so much. Demand is increasing everyday. Thus, demand and supply mechanism is working effectively.
Second and also an important aspect to this is cost incurred in mining of a Bitcoin. How will this cost be recovered. A massive loss to economies can occur if such cost is not recovered in the system.

[KS03]

The price of Bitcoin is high because it is very rare and many people wish to have some for spending or investment purchases.  Bitcoin has opened up an entirely new avenue of wealth preservation.  There is a hug demand. 

[mornabo]

for a long time and of course currently people buy bitcoin much more for buy altcoins or just hold. because of that price is high. and i think whales are now that situation and use very effectively.

The answer is of course because bitcoin users continue to grow, the spread of bitcoin occurs in many places, and that makes demand rise and you see prices continue to grow slowly at the moment, and of course there are still many things and other aspects that affect prices to rise

[Zaibraid]

In my opinion the most influential bitcoin price is publicity and public trust in bitcoin. Although now the price of bitcoin is not as high as last year but this is still high when compared to other crypto currency coins. Indeed, this popularity determines the price of crypto currencies because if high popularity, public trust in bitcoin is also high. But if popularity decreases then people's confidence also decreases. Therefore I really appreciate the bitcoin team especially the marketing and coin promotion teams who have smartly built public trust in bitcoin. So it is not surprising if until now the name bitcoin is ingrained.

[Bountyangel]

In my own opinion, the level of acceptance of bitcoin by the larger society is high and also people have more trust in bitcoin.

[deadpool02]

Bitcoin is the mother of all the coins and now it is accepted in most of the countries. The supply of bitcoin is low and the demand is very high. Most people have heard about bitcoin and people hardly know about other altcoin coins. That's why bitcoin price is high.

[Ulya63]

Because bitcoin is the first crypto currency in the world. And the fact that he has a very small amount. But the cost bitcoin for someone high for someone is very small it depends on your income from work. And bitcoin not the highest price that is in coinmarketcap.com is another 42-coin which is now worth $ 21,000 and is engaged in the first place as the most expensive crypto currency. But still, the top 1 is still bitcoin on capitalization and as the most popular.

[Chirs]

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

bitcoin has a high price, because it is already very experienced. bitcoin has experienced many things, increasing and decreasing dozens of times. but bitcoin can still survive until now, it proves that bitcoin is a strong coin. so bitcoin is worthy of grabs and the price is soaring.

[ilcapitano]

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

Because Bitcoin has the biggest supporter community and it is the coin which is the most traded and it is the only coin which no coins can replace and overcome

[graxoff]

The main reason for such a high cost of bitcoin is possible earnings. New companies in the market are also evaluated. There's an average multiplier of x10.

[Enochian]

perhaps the first Bitcoin coin in the world of crypto and altcoin is a bitcoin follower. bitcoin is nominated all over the world and is acceptable in most places, whereas most people are not aware of altcoin nor have value but are still under Bitcoin.

My explanation for this is very simple. Bitcoin is the first crypto currency and it shows the best results in comparison with other coins that appear on the market.

[martina14]

Because BTC has limited supply and people are giving demand on the coin.
This market and once there are shortage there will be more demands which will result to price pumping.
like in cryptocurrency the price is declared by the people with their demands.

[ui_zakharchenko]

Everything is connected with the demand for Bitcoin. Previously, when it was possible to buy only prohibited goods, the price was not so high. Now the possibility of its use has increased and the price, respectively, too.

[Revvo1]

At this current price, I don't think it's even high compared to what we are supposed to be seeing now, if all things have been equal.

Believe me, there is even more to come looking at what a coin like Bitcoin has to offer the entire globe. You can expect more Buddy!

[Herostorm]

This is probably due to the blow up room, however nowadays their prices are gradually decreasing, so I think we should not focus on selling them but hold on for a long time to wait.

[nitrinto]

if you look now at the price of bitcoin, it is quite low and compared to the winter fell three times. the price of bitcoin depends on speculation in the market.