Why is the price of bitcoin so high

[Sazakan]

I know it is an old saying by now for sure, but BC is just Internet gold ....why it has happened at this exact time is ofc a different question but now it is seen as a more or less viable alternative investment strategy. Some people got rich, many other would like to do so too - like with a classical gold rush. Ofc the big climb-up is over now - those who are able to get into the BC market itself should be pretty loaded to start with, imho.

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[CokeCoin]

Bitcoin is the first and still main crypto currency that has a big profit and influence on the other altcoin's price.

[Robin,Hood]

You ask the wrong question.
Right question is why is the price of bitcoin so low.
bit20 coin cost almost a million.

[BrBoy]

I think that on a large scale it is because  for the fact that this is the first cryptocurrency, everyone knows about it literally, therefore Bitcoin is a popular

[CisColtz]

Right now we are about to go down so prepare to hold guys and buy even more if you have some cash to spare. I see this as a great opportunity to join and buy bitcoin or some alts or even invest into good ICO's.

[Balab01]

I never put Bitcoin in and I'm not going to. In fact, there are many good altoins that are able to overtake the BTC and soon so it will be.

[lorapalmer]

Bitcoin is so expensive because he is the original one. The rest of altcoins are just duplicate copies of bitcoin and not all the time reliable.

[dimon01]

Bitcoin is the first coin and people initially invested in it because there was simply no other coin. Now it is still popular because the exchange rate is relatively stable, although recently it can be argued.

[green547]

1. the limited supply

2. the amount of computing power and electricity required to produce bitcoins is extremely high and is only going to get worse.

[Gamerholic]

I see that in the market there has been another correction and the 10k level has been lowered - that means he could not restrain the market's turn. It turns out about the maxima, even if local ones can and do not dream in the near future. I would like to believe that bitcoin will drop again to levels of 5-7k. Then you can safely buy and then wait patiently for the end of the year. December and November as well as in the last year of 2017 will show us new historical highs, I do not doubt it!

[Bounty_Hunter]

The price of BTC and mostly all other coins is produced by supply and demand.
When the Btc price is high because many people want to buy bitcoin and sellers are up the price. This happens not only with bitcoin but also with any other goods.

[lancer10]

I think that Bitcoin will not take a leading position for long, because it is no longer a guarantee of stability. Previously, everyone thought that he would never collapse, but would only grow in capitalization.

[Butchick]

Apparently, one of the factors that greatly affect bitcoin's value is its demand followed by the number of investors. As the demand of bitcoin increases and with its limited supply, this somehow results to an increase in its value. Unfortunately though, bitcoin valie dropped just before the end of last year and everybody is patiently waiting for it to increase significantly.

[JRoa]

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

The price of the bitcoin is depend on the supply and the demand in the cryptocurrency market. The reason why the value of the bitcoin is now high is because the people have now massive demand on bitcoins.

[ashahin7799]

We know bitcoin is a cryptocurrency.Bitcoin prices are high because the market's demand is much more.People's interest in the day is rising.As a result, the demand is increasing, and prices are rising.Bitcoin also provides high service to the people.As a result, people are paying attention to this work.Along with the price increases.

[barlo357]

Because a lot of people are buying and holding btc knowing that the value will increase consistently so the demand will increase also. And simply because  that btcBTC is the pioneer among the altcoins and its already established the name.

[zackthemack]

Growing Chinese cryptomarket is dynamo for Bitcoin. More and more miners working hard on it, improving CPU and other equipment. I think Chinese factor is one of the reasons of growing BTC.

But at the moment it is very cheap.

[dalesotpi]

Probably because it is the first of its kind, and has a very strong support from its community and is growing even today. Many invested in it, they see it as trustworthy as their pets are to them.
And am not quite sure, but usually alts are traded using bitcoin - which mean you need to have bitcoin first to buy altcoin

[Wind_Crypto]

the value of a token depends on who uses it, i.e. accept it in exchange. U know that fiat, that piece of 5 dollar bill u're using, only has value because the govt backs it up right. So, in btc's case, the bigger the number of mkt participants willing to accept btc or buy btc as an asset, the higher the value it can potentially be. subject to other factors such as competition of course. Bitcoin, while it might not be technically superior to some other coins out there, came first, and is the most well known.

[Fixart96]

There is no doubt that bitcoin has a very high price, because bitcoin is the first crypto, so it's no wonder that bitcoin has a very large and very well known fan.