Why is the price of bitcoin so high

[Gabb]

It would be difficult to justify with solid foundations that the price that bitcoin currently has is the intrinsic value it really deserves, because it is well known that, in the end, it is the market (buyers and sellers) who succinctly agree on the minimum price to which a bitcoin must be negotiated, obeying the laws of supply and demand that characterize an open market.

Therefore, beyond the speculative interests that usually determine the value of things in the capitalist economy, it would be difficult to determine which would be the objective value of bitcoin based on its utility as a cryptocurrency, since as a means of payment it is equally useful either it is worth $0.01 or one million.

[Patron92]

Bitcoin does have a significant advantage by becoming the first cryptocurrency in the world. And all the other coins are only his followers. Therefore, bitcoin will always occupy a special place among all cryptocurrencies.

[maxman190]

The most common explanation for this phenomenon at the moment is expressed in the opinion that the latest changes in bitcoin prices are the result of the preparation of soil by institutional investors for the upcoming launch of bitcoin futures.

[krodmandoon]

The most important reasons for Bitcoins prize are: Bitcoin is the leader of crypto world and is dictating the direction and the speed of the whole market. The demand for Bitcoin is higher than any other coin.

[WakinXXX]

Bitcoin is the first cryptocurrency which is most easily known to people, it is more and more developers. which continues to develop bitcoin to make bitcoin steadily popular in comparison with other cryptoterms.

[cesarzgamer]

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 the first currency and that's why it's so popular. A lot of people know what bitcoin is even if they are not into crypto. So when somebody try to start using crypto first thing which they are looking for is bitcoin. And it makes it popular, more people want to buy it which make supply smaller and price bigger.

[xxxRaidysxxx]

Bitcoin - the main coin and the biggest cryptocurrency around the world. Many people know about bitcoin, and because of the high price and demand people invest in her now. They do any strategy that they could get big profit and to be one of millionaires because of bitcoins.

[DarkPiltover]

The potential price of bitcoin is in seven figure as it is predicted by many analysts in crypto space. The price different you see in Bitcoin vis a vis Altcoin is because Bitcoin is the first, most secure and most popular of all cryptocurrency...

[drofroLinden]

It happened historically. Bitcoin was the first coin, so he gained immense popularity.

Even people who are very far from digital technologies know or have heard about bitcoin.

That's why bitcoin is much more expensive than other coins.

[AirFlame]

It is high because it is simpler, not better. It's simply simple, robust. Also it is THE original one. Both of these effect the price being higher than the others. Why price is currently higher? Well, mostly because of the news. Good news increase and bad news decrease the value of bitcoin and any other crypto currency. It's all about the hype!

[awazieik]

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 enjoying the first mover advantage which is why it is so high in price. Every other coin is perceived as a copy cat to bitcoin even though this is not so .

[Just John]

The price of bitcoin actually got so high because a lot of people became interested in the coin in a short time which increased demand drastically and as such so much money was coming into the market like never seen before and majority of this money coming in was actually focused on bitcoin so the price soared.

[Huaishb]

Its matter of investment we can say Law of demand,more demand prices go up.Most of Business tycoon and showbiz personalities are aware about Bitcoin and invest in it with high amount that's reason Bitcoin demand is high and supply is short so prices fluctuates.

[monkey4204]

Because it is the original one that's why it is superior. Other cryptoccurency are produced because of the idea of bitcoin. Bitcoin also is the most popular coin around the world. Supply does not change but the demand increase.

[toop548]

In recent years, the pressure of economic downturn has been large and the global economy has slowed down significantly. In this case, people tend to buy hedged investment products rather than investing money in consumer products or production areas. Bitcoin is a good place for investment.

As mentioned earlier, Bitcoin has a constant amount and is not controlled by the central authority, which means Bitcoin has a good reliability. In addition, Bitcoin can invest through the Internet, while the traditional investment threshold is relatively high, so the speed of capital to enter Bitcoin is particularly fast. Bitcoin prices have been less stable, which is also related to the nature of the fast-forward Internet. The current economic situation is prompting the rapid flow of capital into Bitcoin.

[Jdragon6x6]

Bitcoin is the first cryptocurrency which is most easily known to people, it is more and more developers. which continues to develop bitcoin to make bitcoin steadily popular in comparison with other cryptoterms.

Yes, it is the first cryptocurrency, and the most important reason why bitcoin price so high because of its achievement and the ability to create something that is not duplicable in the digital world has enormous value.

[andree nguyen]

Bitcoin is one of the only cryptocurrencies globally to allow for fiat-to-cryptocurrency purchases. This means that someone with only cash can purchase BTC directly, but can’t do the same for other alt-currencies. Because of this, even people wanting to purchase another cryptocurrency will have to purchase BTC first, giving it a very powerful position.

[Zidanmusk]

For the average person, Bitcoin is cryptocurrency. When I talk with people about this industry, I’ll say I’m in blockchain or cryptocurrency and they’re not sure what I’m talking about. Then I’ll say “Have you heard of Bitcoin” and the lightbulb goes off. Because people know Bitcoin so well, when they want to enter, that is the cryptocurrency they will naturally gravitate to.

[Pelevelyl]

The price of bitcoin has become so high because many people want to buy bitcoin, and buyers are more than sellers.

[JP_crypto]

Oldest, most established community keeps Bitcoin going. As much as there’s huge infighting in the Bitcoin community, the truth is that it has a huge amount of support, both from development and non-technical resources. This means that any new community will have to compete with the sheer size and enthusiasm coming from this group. That’s not easy to replicate.