Why is the price of bitcoin so high

[Pay4youractivity]

The price of bitcoin in fiat money will always grow, since it has a deflationary nature. The drop in prices is possible if it is completely squeezed out of the market by other more sophisticated ones.

[Rutdam]

The price of bitcoin in fiat money will always grow, since it has a deflationary nature. The drop in prices is possible if it is completely squeezed out of the market by other more sophisticated ones.

I agree. The bitcoin or the bitcoin cash is deflationary. So their price will rise against fiat.

[Beicin]

Bitcoin is the most known blockchain to the "average" person. A lot of people have absolutely no idea how it works (or is supposed to) but they have heard about it nonetheless. I guess its the privilege of being the first blockchain invented...

[Falgorn]

Since bitkoyn was the first crypto currency, most people only heard about bitkoyne and about the altcoys, as a rule, nothing is known. The mass media also pay special attention to crypto currency loans; bitcoin. This explains the popularity and popularity of bitcoins. I think that in the future, as information about altcoyins grows, the situation will be leveled.

[Pay4youractivity]

Bitcoin is the most known blockchain to the "average" person. A lot of people have absolutely no idea how it works (or is supposed to) but they have heard about it nonetheless. I guess its the privilege of being the first blockchain invented...

Usually there comes a time when the first become obsolete. The crowd that quickly believed in bitcoin just as quickly will turn away from him.

[Joe-Niner]

If BTC is to become THE digital currency then the price is actually very cheap now.  There are only 21 million coins possible while there are 7 billion people on the planet with more being born into a digital age where more and more people are using computers and the internet.  You do the math.

[Fahim]

CME has refuted 12 december as a day of bitcoin trading start. Price should go a bit lower but...nothing. Tether got hacked and some exchanges already stoping trades with USDT pares - bitcoin still 8300. WTF?

[Dolce Vita]

Just like stocks, I think the one of the major reasons is because there is a finite amount of coins available. This, partnered with the increased speculation and implementation of BTC is causing the prices to skyrocket.

[Saifher]

Media outlets are covering Bitcoin very frequently as of lately, and this helps bring in new people (therefore new money) to the crypto scene. We are still early adopters when you think about the grand scheme of things and the potential that blockchain has to change our society.

[yannick225]

The main reason is that Chinese people use Bitcoin as alternate source of hiding money from government as if they kept in fiat, they might be caught

[pia19]

There is only so much Bitcoin that will ever exist, every day less and less bitcoins are being “mined”. Unarguably, bitcoin is very popular, which creates more demand for it. The supply however, is limited. That's were the basic principles of Supply and Demand comes in. You want a bitcoin, Everyone wants a bitcoin, but its limited. Which means that in order for you to get that bitcoin you need to pay more than me and the other person that wants a Bitcoin. There is more demand than available supply. Also, the legalization of other countries in using bitcoin might also affect its  value. Also the prediction of experts also affects its current value. And I think it will continue to increase.

[KingScorpio]

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 its a tulpmania, people buy and hold bitcoin because they still think it will increase in value, as soon as that belief turns around and people start to believe it will drop in value the people will all start selling it and overflow the market

[DuaLipa]

There is only so much Bitcoin that will ever exist, every day less and less bitcoins are being “mined”. Unarguably, bitcoin is very popular, which creates more demand for it. The supply however, is limited. That's were the basic principles of Supply and Demand comes in. You want a bitcoin, Everyone wants a bitcoin, but its limited. Which means that in order for you to get that bitcoin you need to pay more than me and the other person that wants a Bitcoin. There is more demand than available supply. Also, the legalization of other countries in using bitcoin might also affect its  value. Also the prediction of experts also affects its current value. And I think it will continue to increase.

This is a basic concept of supply and demand. And your argument is valid here, the supply limited and it's getting smaller every second. The demand is big and gettin bigger every second, resulting in the rise of btc price.

[webmone]

The price for Bitcoin is so high mostly for the reason of its limitation (21 millions of BTC that exist). Add here the faith to this cryptocurrency of millions that are eager to invest into it and you will get the answer.

[jacquelinecr]

Bitcoin has been here since day one. It's a far more superior coin to the rest. Bitcoin will continue to rise in value due to its limited supply. When the supply lessens the demand is greater hence the price increase - it's what they call Supply and Demand.

[helin9108]

Bitcoin is a world wide digital crypto currency and most of online sites started Bitcoin as a payment gateway and the world's biggest online shopping site Amazon is thinking to add bitcoin for payment gateway, if this happen bitcoin price can reach to 12000$. I think bitcoin is digital Gold.now a days people started using bitcoin as the online thus bitcoin demand increases ,so why not bitcoin price move higher ?

[27_Mikhail_27]

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 big team! It is promoted and advertised around the world! In many countries even accept payment in bitcoins. Many people who know little about cryptography think: "Bitcoin is cool". And they are right! But bitcoin is just a part, albeit very large)

[catapult]

Bitcoin is the first cryptocoin, and have achieved a lot of things in the past. It is the most reliable coin, and its popularity is gradually rising. So, it is not a surprise that, it is the coin which have the highest price.

[duola9527]

Because bitcoin is the first encrypted currency using blockchain, the amount of users is large, people accept high, so the price of bitcoin is the highest, and will become higher and higher

[Usui-Chan]

Because bitcoin was widely used back then and until now. Bitcoin is still being recognized as the number one used cryptocurrency and not many altcoins are prospectly seen to be like that.