Why is the price of bitcoin so high

[Sebas.tian]

As was stated in the Law of demand, higher demand leads to higher supply needed. Bitcoin is now in demand in the market since many millionaires nowadays are into altcoins. of course, not only millionaires,but also typical type of people who wants their money to gain bigger than before. Since there are many people believes in bitcoin, its value is high.

[Andrianla]

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

Yes, the price of Bitcoin is higher than other coins, because Bitcoin has a lot of demand so the price will always go up, but for now the price of Bitcoin is going down. There is no real or fake coin, because every coin depends on the investor and the system, if it is good then the demand will increase.

[gallery2000]

Many factors have played, new investors as well as the promotion of Altcoins. This leads to the fact that the bitcoin price is constantly increasing. BTC is a popular coin, it is already shown on TV 

[Mzai620]

There are many reasons for price of Bitcoin being this high.

First of all, it is the pioneer of this industry. Whenever you ask someone about cryptocurrencies, they ask "You mean Bitcoin?".

Secondly, all of the new comers to crypto world first buy Bitcoin, and since crypto is being hot right now and many people are joining, hence the sudden growth.

Thirdly, there is a limited supply that is even decreasing by time. It started with 21m supply, but because of all the lost wallets I believe the supply is reduced by at least 20-30%. When you take into account that no tokens will ever be created again, at one point demand at low price has exceeded the supply and this is why prices have to go up.

[harbin55]

The reason why the price of bitcoin rising so high is there are many demands on their services that they offer in the public market.
The company of bitcoin always focus in the demand of the consumers and they know how to value them so many investors are loyal and trusted about their services.

[yslyv]

Because quantity of people that investing in crypto coins is increasing day by day. And even someone wants to buy an altcoin, he has to buy bitcoin first , so the price of bitcoin goes higher.

[RNGfight]

Because bitcoin has its due value, its total amount is certain, so it's worth the price, but it's still a very low price, and you can buy bitcoin.

[cryptonero]

Because it was developed to make its price higher than any fiat currencies,the omre investors coming in the more price it will pump.

[pandanaran]

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 was born first compared to altcoin, some say that cryptocurrency was born earlier than bitcoin but I do not know the authenticity of that news, bitcoin has more to gain trust because of it and its technological, I read from the article that altcoin is based on technology applied in bitcoin but with new innovations.

[engrlodi]

I think bitcoin is the superior of all the coins, I think it is the first one that develops of all other coins. Many investors wants to invest it to the bitcoin because it is trusted and more efficiency to the other coins, so that there is many investors to it. Many investment, there will be high a value and it going to pump and pump if there is a many investors. Bitcoin is the more loyal and trusted coins.

[coingrow]

THere are a limited number of bitcoins out there, only 21 million can be mined(meaning that is the maximum coins that would ever be in circulation), as its based on blockchain, meaning its not centralized. Huge demand and short supply makes its cost grow with time.

[mangkanor]

Becaues many investors are coming in,the more investors the more money will BTC's aquired the more price it will go up.

[Obama07]

There are too many resign of bitcoin price is growing very faster. When bitcoin came in this online market most of the people don’t know about bitcoin and no one can accept bitcoin in 2009 but sometime latter when people about bitcoin and most of the company accept bitcoin on that time bitcoin price is growing and when usa accept bitcoin and it is going so many faster.

[calandra78]

for me the tall price may reach bitcoin one of them is the main coin of the digital currencies that have the highest potential, moreover bitcoin is a limited number of coins and it had spread all over the world. as well as the increase of the bitcoin enthusiasts who more and more from year to year make bitcoin is becoming increasingly a bit because of the limited number of available bitcoin.
 

[rasyiqul1505]

bitcoin prices are very expensive because of the fewer amounts, but bitcoin is the most popular coin in crypto currency. bitcoin is much liked by investors in the world because the price continues to rise every year.

[developer101dev]

The value of bitcoins is depending on the supply and demand in the market. Right now, There are a lot of people who are investing and the hype is on because it is christmas so the supply is decreasing and more and more of demands is coming that's why bitcoins value keeps on increasing each day.

[vjocha]

Bitcoin has proven technological excellence and first mover. Blockchain Bitcoin has existed for a long time and accumulated a lot of trust in recent years because it is reliable and secure. What should not be underestimated when it comes to Bitcoin and the price is the big community that has been around Bitcoin for years, the more people believe in a currency and judge the higher the price.

[Streets 2.0]

Well friends ... The last few days I was busy saving my investments. At the same time, all sorts of trivia like buying gifts for loved ones for the new year. I managed to sell my bitcoins at the level of 17.2k. Was the price fair? Not for everyone, especially who waited 20k for the New Year like me. But I bought it for a long time, so I got mine. Now you can wait for the bottom of this fall to buy again. Personally, I do not see anything terrible in changing the trend.

[Streets 2.0]

As for the fall itself and panic. I do not panic ever. The character is persistent. If you as an investor have a strategy - you should not be afraid of changing trends and policies - the strategy should provide for this. As for the price, we already discussed earlier that it began to depend on a large number of factors. Including news (non-technical) nature. Therefore, it is impossible to objectively analyze the price level in principle. You can only pretend that the forecast is based on some kind of subjective analytics.

[jacksonmark30]

It's so high mainly because of thousands of users flocking to buy a piece so that they can ride Bitcoin until it reaches $100k, $200k, or even $1mil as so frequently hyped on media.