Why is the price of bitcoin so high

[ferrybitcoin.1996]

BItcoin is the pioneer of cryptocurrencies, so it should be the highest. And they are limit their coins production. Nowadays the price still raising because Cryptokitties issues

[DAVETUN]

Trading volume is a major determinant in the space,BTC has a high trading volume compare to other altcoin,as it demand rise,price will definately rise

[lonesurvivor]

in my opinion btc was the  first one and now is on the peak with a high price and grown day by day. The high price is due of its demand compare to others

[olympys]

Because of the law of supply and demand. Bitcoin's price was high in demand these past weeks causing it to pump. However, it dumped a few hundred dollars maybe because of too much supply.

[CherRic]

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

If you think of that "patent" world, bitcoin developers has the sole right of any cryptocurrencies. It has the original content. So i think, thats the reason why it has higher price than any others. Everyone just followed or made some pattern on bitcoin.

[Spaffin]

The price of crypto currency is determined by the demand for it. Bitcoin was the first crypto currency and therefore is the most famous and popular among all the crypto currency. Fame gave rise to demand, and demand leads to an increase in the cost of bitcoin, so it had time to break away from its value from other crypto-currencies.

[Dedok]

In this case, bitcoin is very popular. Of course, its price will be several times greater than other crypto-currencies.

[cevap]

Right now bitcoin is not viewed as anything with actual purpose but just as an investment so everyone is joining the train to make a quick profit. Its hard so say if there are really so many new investors or its all a bubble. 

[kolitski]

Bitcoin is most acceptable of all cryptocurrency worldwide it is because most of the people are investing of it, Bitcoin with a high value or prices because there are many investment in their company.

[JLCoin]

IT's high at the moment because everyone is in a frenzy over how high ti is. Once the hype has died down and people stop scrambling to get in on the 'easy money', we'll be able to see where the bitcoin value really stands.

[rynah011991]

Bitcoin compare to previous years, it was very cheap. Due to publicly advertise aroung the world, it suddenly rise. Many people were very interested now on bitcoin thats why its market increases, resulting to very high value of bitcoin.

[Lodipetmalu]

As of now. Bitcoin is very high  because many of continue increasing its demand for it. And more advertisement on it in the market so that it can attract more people 

[popoypalaboy03]

what most people doesn't realize is what cause a bubble to burst is too much supply and not enough demand. in the case of bitcoin; supply is constant until it will not produce any single bitcoin in the year of 2104, also the fact that it is made by artificial intelligence and not some entity that have their own agenda will prove in the future that it will be stable currency for the world to use. every single fiat currency is facing devaluation every day because they kept printing money out of thin air hence the reason if your grandpa saved 10 dollar in year 1960. today you can only buy some snack and coffee.

[entr]

Demand for bitcoin is adequate for this pump. They create such a great hype that many new comers buying bitcoins  expecting buy lambo soon. They will get rekt sooner or later.

[btcminer6212]

Demand for bitcoin is adequate for this pump. They create such a great hype that many new comers buying bitcoins  expecting buy lambo soon. They will get rekt sooner or later.

because bitcoin was the first coin that released digital currency. The hype of bitcoin was very strong and users and also investers of bitcoins are more than any other coin in the market. Plus the euphoria made by the media about the bitcoin making it gained more and more popularity. Also there's some movie and documentary made for bitcoin.. I think maybe one day, there's an altcoin that could defeat bitcoin. but i think it takes may years for this .the users are increasing also that,s why.price gone very high.

[Streets 2.0]

I a little stood up when a couple of days bitcoin was going down ... I thought "Well, my forecast went to hell!" And today we lost the losses and got a new maximum. So, as before, we will wait for the level of 20k by the new year and dance it! Let it be! The stakes that I made with my friends at the conclusion of the bet doubled. Now the "high" price of bitcoin is also profitable to solve!"

[Streets 2.0]

By the way, what do you all think about the "conspiracy theory?". The story that there is a sufficiently accurate value of the unaccounted (gray) money supply which the dollar (United States of America) created during its existence. And now they calculated the number of bitcoins about equal in purchasing power to this mass. It remains to increase this number of bitcoins so that they fulfill their role. What will happen to Bitcoin then is not clear. The version is not very in my opinion. I like about the conspiracy of Asian IT giants.

[bitcointarget]

Demand for bitcoin is adequate for this pump. They create such a great hype that many new comers buying bitcoins  expecting buy lambo soon. They will get rekt sooner or later.

because bitcoin was the first coin that released digital currency. The hype of bitcoin was very strong and users and also investers of bitcoins are more than any other coin in the market. Plus the euphoria made by the media about the bitcoin making it gained more and more popularity. Also there's some movie and documentary made for bitcoin.. I think maybe one day, there's an altcoin that could defeat bitcoin. but i think it takes may years for this .the users are increasing also that,s why.price gone very high.

I think it's not about being the first one. It's about the supply and demand curve of bitcoin. The demand goes up, the supply is limited and the price inflation exists in bitcoin clearly.

[cryptonoob312]

It's also kinda overhyped

[liafloor]

Just bitcoin is unique. On news speak only about bitcoin, ordinary people know only bitcoin.  That's why the price is growing - everyone knows it and everyone wants to buy it.