Why is the price of bitcoin so high

[nemesio]

The price of bitcoin is so high quite rightly in my opinion. I think this is absolutely normal and in fact such a value of bitcoin is not really the final price. I am sure that this is not the end and we will be able to see a huge growth

[silverston]

relative to other crypto currency bitcoin is very good and stable, but this can not be said of ethereum

[blacq]

This is because I’ll say it is the first decentralized crypto currency the initiation of the concept Btc has come to change the way we trade and makes transactions very easy. BTC is so high because there are a lot of people who invite in BTC and also the way traders transact with other tokens

[romantic007]

It's complex. It's not just because it's the first one, it's not just because BTC is superior, it's because of many many factors including the two listed above.

[adeprinz1]

Of course.  Bitcoin is superior. Although, the rate rises and falls. That's why you must be well updated

[MidnightWolf]

Of course.  Bitcoin is superior. Although, the rate rises and falls. That's why you must be well updated

it seems to me that if Bitcoin will be used as a means of payment, it will help not only to raise prices for Bitcoin, but also to restore the crypto-currency market.

[Itcher]

Bitcoin is a benchmark for all coins. People think about it when they talk about cryptocurrencies. But soon we can see him being overtaken.

[aggeyysido]

Bitcoin is the first cryptocurrency that initially raised a mass excitement, also with the largest capitalization at the moment, but at the cost of Ethereum it is already on its heels.

[gezhid008]

Because bitcoin is finite in the world, all those who invest in cryptocurrencies want to own their own bitcoin, and the huge market makes it so expensive.

[heavensuperman]

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 Diamond here. We know that supply of diamond is controlled by the mining and mainframe diamond 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.

[ariscan]

I think bitcoin is king in digital currency. that is why the value of bitcoin is always high and down. if starting high bitcoin values it certainly affects all existing crypto. that is why the value of bitcoin is high and will not be matched by other crypto.

[clarkgeneral86]

Bitcoin price is always higher than Altcoins because Bitcoin is the number one currency and the price of the whole market. So when Bitcoin price increases or down market Altcoins also slope. The value of Bitcoin is huge compared to the Altcoins because it was born before and as a rule of thumb entering the crypto market people would only know Bitcoin.

[UniversityCoin]

The price is very high, because people trust bitcoin and believe in its great future. I think that the price should be much higher than now. Bitcoin becomes more expensive due to the fact that its popularity is constantly growing.

I think that you are telling the truth. I also think that bitcoin is at the first place at a price primarily because of people's trust.
There have long been more complete coins, but people's trust is more important.

[DarkNecromancer]

I think because the bitcoin is the first-ever cryptocurrency. Trust it and buy in hope to receive in the future from the investments big money.

[FishsHumnsToo]

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

[uwouw0]

Its value lies in the belief that someone else will pay a higher price to buy it. Simple as that. It is the most valuable one because its perceptional basis has a longer history than others. First come first served principle. It may not protect this title though

[yokai21]

In fact, the price of bitcoin is low now but the reason why the price is lower than the other is because bitcoin has a limited supply, initialy bitcoin was created with 21 million btc available because bitcoin has a limited supply.

[ivannalog814]

I can say that bitcoin was the founder and ancestor of all crypto-industry.it gave life to all altcoins and helped talented people to find ideas in life that make the world better. Everything depends on bitcoin in this market and it is so much appreciated, as without bitcoin there would be no blockchain that simplifies and improves many areas of activity that have been working for years !

[camric09]

I can say that bitcoin was the founder and ancestor of all crypto-industry.it gave life to all altcoins and helped talented people to find ideas in life that make the world better. Everything depends on bitcoin in this market and it is so much appreciated, as without bitcoin there would be no blockchain that simplifies and improves many areas of activity that have been working for years !

Well aside from that I think the real reason why price of bitcoin is so high because new investors are keep buying bitcoin wheather the price is high or not, the demand for bitcoin increases and this is the reason the price become high.

[Gudhal Untu]

As we know that the increase in bitcoin prices is due to the decentralization factor, when demand increases and the stock is fixed then prices will automatically rise, that's what makes the price of bitcoin feels very expensive compared to others.