Why is the price of bitcoin so high

[Psalms236]

Bitcoin was the first of what have become known as "cryptocurencies".
These are forms of digital money that use encryption to secure transactions and control the creation of new units.
bitcoin plan was to make a form of currency not controlled by governments or businesses, that you could trade globally with no cost and without having to reveal your identity.. Today will have so making alternative coin that can be used to substitute BTC, but bitcoin has maintain it's host and become superior to other coin,  bitcoin lead while others follow.

The price of bitcoin is so high  because of it's popularity  and it was the first crypto that was introduced in the market. Considering that BTC is still  the  leading crypto currency in the market.

[cacucacok91]

Apparently all because it has a huge demand, and it is more speculative coin than a tool to pay for services or purchase goods

[Klovezio]

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

Hi, the issue regarding Bitfinex’s banking woes is essentially on the backburner as prices have gone up significantly since then, but in my opinion, this is a very big driver of why the price of Bitcoin is exceedingly easy to manipulate.

[okissabam]

The reason why Bitcoins price is high is because of its demand to it being popular. And of course the forks that are happening play a big role in the uprising of Bitcoins price. Being the original and number 1 cryptocoin, well that's given but because of it and because of these new coins emerging every month more and more people are curious about Bitcoin and some even hold a couple of Bitcoins with them. One aspect of it being high is that its supply is only limited, and many people want to get a hold of Bitcoins themselves because they are expecting Bitcoin to reach a certain amount in $ in the next few years making it more in demand.

[Fioraver]

The more popularity Bitcoin gain, the more expensive will be. This is the main problem with the whole crypto world. We have to gain popularity. A lot of people did not believe in Bitcoin. Now some of this people are investing in Bitcoin and they think alts are not to be trusted. Popularity and the right information are the most important of all.

[Ethan Friedman]

Bitcoin could actually be considered extremely undervalued depending on your view of where bitcoin is heading. I think there are a few things that set bitcoin apart from the other currencies. 1) It was the first. This is a huge competitive advantage, not to say it will always be first but this is still a new industry so the leader at this point is always usually way out ahead. 2) Its by far the most secure coin sustaining attacks from governments and hackers on a daily basis. There is a 1billion bounty for anyone able to hack bitcoin. 3) Its a store of value unlike other cryptos maybe excluding eth but eth is only a good store of value as long as they are the primary platform for icos

[mitchr4]

Bitcoin is the first cryptocurrency that to be hard to mine, low supply, and high popularity  also have high volume on various market that make the value is so high.

[Artillery69]

Bitcoin is the first in crypto. because many market demands are too high so Bitcoin prices continue to soar. No one can outrun it in popularity or in price. All investors are interested in its growth and support its development.

[hamster fat]

why is bitcoin price so much now? simply because the market so appreciates it. The market itself determines the value of any asset, of any commodity. As always there are buyers and sellers in the market and they determine the cost. And we should to remember that sometimes the market is not rational.

[loof99]

The reason why bitcoin's price is high is because it was the first cryptocurrency that was been invented long years ago.
The more bitcoin becomes old, the high price it will be. Since bitcoin is oldest in the market, it has its highest price in the market.

[Cacingkemi]

The reason why bitcoin's price is high is because it was the first cryptocurrency that was been invented long years ago.
The more bitcoin becomes old, the high price it will be. Since bitcoin is oldest in the market, it has its highest price in the market.

Alright dude BTC is the old crypto so that the older it will be more mature, mthen that why the high BTC price is indeed altcoin that holds tightly with BTC and can be mentioned also more and more alt well BTC will also be higher the market price cause mutual connected to each other.

[lotfipro]

Because it's been around since 2009, and it's really thoughtful and new technology.It is so expensive because everyone wants to do it.The higher the demand the higher the price as they say in the economy

[aces777]

Bitcoin is the oldest coin and has a first mover advantage, which is the reason why all the altcoins are still tied to it. The price of Bitcoin isn't really high,, you have to wait a few more years and then see what the real value of a Bitcoin is, as the current price will be peanuts in front of it.

[AllthewayUUppp]

The more popularity Bitcoin gain, the more expensive will be. This is the main problem with the whole crypto world. We have to gain popularity. A lot of people did not believe in Bitcoin. Now some of this people are investing in Bitcoin and they think alts are not to be trusted. Popularity and the right information are the most important of all.

Yes that's why you need to do your own search always. Well imagined if the whole world totally adopts cryptocurrencies and the market cap goes trillions or more not only bitcoin will go so high ofcourse altcoins will follow too especially those who have strong fundamentals.

[Gamerholic]

I think this summer will be a new hysteria over the price of crypto-currencies. As always, the masses will first run to the market when it grows, then hysterically run out of it when it shows the first signs of a reversal. We passed it. People involved in trade understand the benefits of such fluctuations, investors panic on the contrary and begin to act wrong. The key to success in such matters is patience and tranquility)

[mabell943]

Actually many people loves bitcoin because of its high intric market value but they do not know why this such thing has a expensive amount.
The reason is the law of supply and demand; demand are the response of the customers to the product; the higher the demand of the consumers the higher value will prevail.

[Sean25pogi]

The reason behind why the market value of bitcoin is too high because of the high demand that they received in their services. Having a high demand pulls the price in the blockchain market higher.

[Considered]

The price is not high but what the market choses to value it. Also Bitcoin is above every crypto because of its first mover advantage and a large number of devs developing for it. If Bitcoin would have started now, it would have probably failed due to its high fees and slow transaction confirmations.

[balamuda]

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 is a coin that is created first and is the original coin, and as for altcoin is an alternative coin that is created after the presence of bitcoin. The popularity of bitcoin is much higher than altcoin, therefore bitcoin has a high price compared to altcoin.

[Cryptock]

Cause it is first coin, the most people believe in bitcoin, it is on first place on whole crypto market and people are still buying, selling and doing peyments with it.