Why BTC is having a high price?

[owmivmen]

Bitcoin is getting more expensive because enthusiasts are increasing and the number that can be in the mines is decreasing. For the best long-term investment in addition to ETH and other altcoins.

[Memminger]

It was below 1k last year beginning. But from the mid year prices started to explode! What's the reason behind these price rise?

The high price is due to the deman. Let's set an example. You have a favourite product and people are giving positive feedback about it. Since they are developing it, the deman is high therefore the price is high also. Bitcoin works just like that.

[Pendularin]

It was below 1k last year beginning. But from the mid year prices started to explode! What's the reason behind these price rise?

The high price is due to the deman. Let's set an example. You have a favourite product and people are giving positive feedback about it. Since they are developing it, the deman is high therefore the price is high also. Bitcoin works just like that.

People are more interested on bitcoin investment due to the capabilities and opportunities that can get huge profits. Bitcoin is much demand for the people because it can take advantage and considered as a good transaction in terms of payment, the prices is in a high rate if the demand and supply are combined with good transition of value.Bitcoin is more powerful in every kind of transactions.So having like this it can take good benefits.

[CoinsInvest9]

It was below 1k last year beginning. But from the mid year prices started to explode! What's the reason behind these price rise?

When the first time I took part in crypto market, I heard that bitcoin had a high price and till now it always keep growing. As far as you know that the demand of using bitcoin is really high, even bitcoin is getting more and more popular, there are many people keep an eye on bitcoin closely because they start awaring how much benefits bitcoin bring to them. Moreover, bitcoin also helps you get money quickly in another way. Bitcoin is known for the prelude of the crypto market and it is notoriously a trustworthy coin so almost people who first time takes part in crypto always choose bitcoin foremost.

[Tenderino]

It was below 1k last year beginning. But from the mid year prices started to explode! What's the reason behind these price rise?

Bitcoin has high price because the demand for it is very high. Normally for anything which has high demand has high price. Not only the demand, the popularity, technology and usage drives this crypto price higher and higher every day. As you said Bitcoin price is high but as of now the price is low compared to the last year high price it achieved.

At the moment when purchasing fiat money for bitcoin, you always receive bitcoin worth of the value of the money you spend. Hence, for the purchaser the bitcoin price in relation to what he receives for his fiat money is always the same.

If the bitcoin price depends on the demand as you claim, why did the demand suddenly decrease for 50% in January this year?

The price of a limited product increases with the increasing demand. But crypto currencies are in general not limited. A certain crypto coin is limited, but not crypto currencies as such. And other crypto coins also fulfill their task and there is no need to buy the famous ones.

[okwang231]

because bitcoin is used by many users here in the world so its value is higher compared to other coins because it is also possible that many investors who are interested in bitcoin are so tall as they are for me so bitcoin is high compared to other coins because it is the first coins to be invented in the world.

[yamete kudasai]

It was below 1k last year beginning. But from the mid year prices started to explode! What's the reason behind these price rise?

The possible reason behind this is the bosst on its popularity which made the demand high. The market value of most cryptos such as Bitcoin, is only depenxent with the market demand. Such that if the demand is increasing, the market value is rising  This reflects not only to crypto but almost all things in the msrket that if one is being indemand, it will have a high price.

[torch2121]

I would say that why BTC is having a high price is because that, it has a high demand. That is the reason why Bitcoin has a high price. Since we are in the digital age right now. Who wouldn't want an easy access to digital world on what you want to purchase and easy payment and you can do this any part on the world with the lowest transaction fee.

[babala]

Due to business rules. Once the supply is less than the demand, the price of supply increase. It also applies to BTC where there is only limited stocks compare to those who want to invest on it.

[kramat]

many people in the world who want to have bitcoin so automatically will make the price high because that's what the law of the market. the higher the demand, the higher the selling price. but the lower the demand then the lower the selling price

[Orrechorre]

The Elasticity of Demand and supply are the obvious reasons behind the Bitcoin volatility. The hype in price that happened last year was when the effective demand for Bitcoin had a very sharp increase drawing the attention of many investors, including the good news about Bitcoin after when India denounced that Bitcoin is not a scamshit coin but there are some users of it that are scrupulous. However, it's price trend had presently gone down sharply compared to that hype price periods. But we are still very much optimistic that it shall return back and very well higher by the third quarter of this year.

[1Referee]

And other crypto coins also fulfill their task and there is no need to buy the famous ones.

And what may that task be according to you? The main use that altcoins enjoy is all speculation related. The few altcoins that do somewhat serve a purpose, are very small in number. Monero is the only coin I personally consider to have technoligical value, and then one may argue that Ethereum offers technoligical value too, but that again is mainly related to speculation at this point. Monero solves a problem that Bitcoin doesn't solve, and that is quite an impressive achievement if I may say so. I personally do not hold any Monero as an investment, so it's not that I am developing a financial bias towards that specific coin. It's genuine interest purely based on its technical engineering.

[patt0]

It was below 1k last year beginning. But from the mid year prices started to explode! What's the reason behind these price rise?

Why do you even consider this to be a high price? I think the "problem" is exactly that, people don't really know how to value bitcoin. They can't objectively say that bitcoin at it's current state of development is worth X, and it has potencial to be worth Y in the future, because of it's roadmap. Since people can't do that, we have a lot of room for speculation, and since it's a free market, the price gets very volatile.

You say this is high, but we actually got to $20k already, and drop a lot from there. If bitcoin succeeds as a payment method or a currency, then it's price is quite low, at least comparing it to the market cap of gold and fiat. Don't forget bitcoin is scarce, so  if we have demand, the price can only go up.

[Slash61]

There are actually some reasons why bitcoin prices are so high, that is.
First, the BITCOIN INVESTOR THAT WANTS TO RETURN THE MONEY. LISTED AS SOON IN LONG TIME.
Secondly, we know that russia and japan have legalized bitcoin.
Third, supply supply continues to shrink (great influence on prices)
Fourth, reward halving.
Fifth, the rise of bitcoin mining activities.

Actually there are many factors that cause bitcoin price is so high (expensive)

[eann014]

It was below 1k last year beginning. But from the mid year prices started to explode! What's the reason behind these price rise?

Bitcoin is very in demand that time, it is rising because a lot of investors are investing in bitcoin so they can earn profit in a short time, many investors that wants to earn in a short time so that they are thinking that if they buy immediately and sell it after they got profited they already get what they wanted and those are a smart action from those investors that most of us don't see that strategies so they buy with a high price already because they are too late comers to buy and now they already lose money because of buying bitcoins with high price.

[azulchzwang]

First we must understand what drives bitcoin price and, in particular, this boom. The common understanding for current growth leads us back to institutional investors preparing for the forthcoming BTC futures exchanges.

[waqasniaz007]

It was below 1k last year beginning. But from the mid year prices started to explode! What's the reason behind these price rise?

There are so many reasons for increase in price, It was around 20k$ in December. The reasons are multiple hard fork and number on increasing icos which increase its demand.

[Topaz72]

It was below 1k last year beginning. But from the mid year prices started to explode! What's the reason behind these price rise?

Bitcoin having so much price maybe because of its demand and supply. Last year is really a big boom for bitcoin when the demand of it goes to its highest that caused of lacking of its supply and led to its highest increased to its all time high.

Yes because it is the only demand and supply which use to change the price of bitcoin in market, if people ask for bitcoin more than the availability the  demand become higher than supply which make bitcoin price very high, bitcoin has very good impact on the life of people so they buy bitcoin to secure their future and they get into digital currency to make profit, we can use bitcoin for everything and we can get good profit to save for our future, this is increasing the value of bitcoin in market gradually and the price is getting high automatically.

[MIZANUR5033]

We read about the price elasticity of demand and price elasticity of supply. The increasing the BTC price also the same reason.  In another way we know when the demand is high, the price has the high. That’s the main reason of increase the high price of BTC. When many investor or industry invest on something that’s time,that’s goods price is increasing day by day. Some of the BTC researcher say their blog , that is the one reason of high price. 
We can express it another way that is, some of the investor or some of the Bitcoin holder intend to increase the price by holding a lot of Bitcoin. Their intent is to increase the price flow and sell their Bitcoin.   

[Biggapp]

It was below 1k last year beginning. But from the mid year prices started to explode! What's the reason behind these price rise?

The high price is due to the deman. Let's set an example. You have a favourite product and people are giving positive feedback about it. Since they are developing it, the deman is high therefore the price is high also. Bitcoin works just like that.

People are more interested on bitcoin investment due to the capabilities and opportunities that can get huge profits. Bitcoin is much demand for the people because it can take advantage and considered as a good transaction in terms of payment, the prices is in a high rate if the demand and supply are combined with good transition of value.Bitcoin is more powerful in every kind of transactions.So having like this it can take good benefits.

The main reason is the investors who buy bitcoin are not only small ones but mostly big whales spend their money in bitcoin. Therefore, whenever a large investment is made by them, the coin rises unbelievably. In addition to this, more and more people are getting attracted towards bitcoin due to its profit promising nature. Bitcoin has the ability to change the life of its holder in a very dramatic way. It can save them from all financial crisis.