Why BTC is having a high price?

[BrentMack]

Bitcoin prices depends on demand from people. Once demand matches supply or surpasses supply then the price shoots up. Markets like the ones we have now is due to so many people dumping coins and thus increasing the supply in the market without there being enough demand to match it so prices go down.

[icecream sandwich]

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

Maybe because of the higher demands of the people because it is like a supply and demand thing the more people that wamts to buy bitcoins and the more people that are buying bitcoins in the market in the whole world the larger the price of that bitcoins it will be. Just look how immediately the money is falling too hard because they are not buying bitcoins they are more on a selling part.

[Nakedbitcoin]

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 answer is quite simple: on the economic principle of trade is when bitcoin prices increase, it means the amount between bitcoin supplies is less than the market demand for bitcoin. besides that it causes very many investors to invest in bitcoin because bitcoin can be trusted as a form of investment that has great potential for the future and of course this is seen from some advantages possessed by bitcoin.

The reason why the price of btc is very high in the market. Because Btc is very demand in the market. Many people like to buy btc for their investment.Because they can gain a lot of profits when they sell it in a very tremendously higher-ups price.

[rainezerr401]

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

I believe that the reason for bitcoins to increase is the hype in the market, the last time i saw a huge pumping of price in the market is when december strikes and christmas is making people to sell their coins for gifts and the market is affected very well.

[Pinoyfan]

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

because bitcoin is very usable and important to all companies so thats why a lot of whales want to invest more in bitcoin because theyll get a lot of money by investing and all people gets profit here ald the market is so high so thats why this is the cryptocurrency that have a high value compared to others just in my opinion.

[DMiracle1]

The price increases when good things happen to a coin, such as a new exchange listing or a partnership announced etc.. Also one thing that contributes to that is i'ts popularity. We cannot deny that bitcoin is the very first ever cryptocurrency that's why is has all the advantage amidst other. And although it's  current value is very much lower than it was last December 2017, most investors still have high belief in this cryptocurrency.

[yonjitsu]

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's graph shows that bitcoin has skyrocketed to 20,000$ last year and that is because bitcoin is already the mainstream where people got to know already about it so the demand of the people goes on a frenzy as these people invest in bitcoin.

[Gastotade]

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's graph shows that bitcoin has skyrocketed to 20,000$ last year and that is because bitcoin is already the mainstream where people got to know already about it so the demand of the people goes on a frenzy as these people invest in bitcoin.

Last year BTC gains popularity when many companies adopt a blockchain,and since btc gathered supporters and been too excited for many comvenient applications of it that makes the market boom, we just need more time now till it happens again.

[beerlover]

It's not even high...
It's very close to 6 lakhs and..that's nowhere near high ..
It's just recovering from...the sudden shock it got from high number of whales selling out the bitcoins and encashing them.
It will recover more in the coming days ..
It's just starting to recover ...not recovering fast !

I guess he must have been referring to the high one we had last year and obviously we are in a corrective state presently and I believe we are still doing well compared to where we started last year. I believe things are gradually getting better with demand and the bears may have totally run out for now.

I am very optimistic though, so we may just have to see how demand increases hugely anytime soon which may take bitcoin prices into another new all time higher prices. Bitcoin is having high price just due to its demand. Anyone can answer that but for the question of why not having right now, I believe only time can answer.

[hispout]

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

We all know that the value of bitcoin are volatile and that have a great potential, the performance of bitcoin last year was great it's rapidly rising and reached the $20,000. The main reason is the supply and demand.

The supply of bitcoin is limited and from this perspective, bitcoin should rapidly increase now and same is the case with demand. This is the only coin which has maximum demand in the market and that is again just because of bitcoin ability to rise in value tremendously over a short time span. It just needs some more time for showing the real potential it has regarding creating new records in the market.

[mriansa]

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 a very high price because bitcoin has a very high demand but only has a very limited availability it makes bitcoin prices to be very expensive not only that to get bitcoin is also very difficult today and has a lot of usefulness can be used for payment methods anything.

[jesh2206]

Instead of buying some bitcoin to make a transaction, many obtain bitcoin for the sole purpose of storing value or simply speculating on the price. While the bitcoin price increased tenfold this year, the number of transactions processed per day was somewhat stagnant.

[Harleybtc01]

Instead of buying some bitcoin to make a transaction, many obtain bitcoin for the sole purpose of storing value or simply speculating on the price. While the bitcoin price increased tenfold this year, the number of transactions processed per day was somewhat stagnant.

Bitcoin has higher price because as what i have understood aside from its the first decentralised crypto currency, its number is rare or limited just like gold. Gold, like properties of Bitcoin made it very superior as compared to other currencies. Soon a lot of big companies started accepting payment in Bitcoin and eventually the interest level of the general public grew. And therefore its price would definitely expensive.

[knightmairesaint]

They are all right, bitcoin's price became so high due to continuous and growing demand of it. The good thing is it becomes more popular recently that's why many people now shows a lot of interest into this, therefore, it results to higher demand. Another thing, though I'm not very accurate at this one but I guess btc's price will soar higher for the upcoming years as it reaches the limit of 21,000,000 coins. 

[Odora]

this is why Bitcoin is called decentralization, the price rises and falls on the result of buying and selling, Bitcoin is only community-centered,
and its circulation is limited, causing investors race to buy Bitcoin, this is also what I think is why Bitcoin price explode.

[mzimino]

Further growth comes from the “bitcoin as a store of value” crowd. This group of enthusiasts bought and held bitcoin and will not sell it at any current price. More and more bitcoin fans are entering into this group and they are driving up demand increases. In a world where people expect bitcoin to be worth $1 million soon this sort of activity – whether rational or irrational – is quite popular.

[batang_bitcoin]

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

More demand, higher price. And if the price of bitcoin goes down there's only one reason with it and that is there's a whale that starts to sell his holdings.

[mia khalifa]

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

from what I read and what I know bitcoin prices are very high because bitcoin has a very high demand and is useful for all kinds of payments in the internet world but has a very limited total supply that makes it harder to get bitcoin so it is obviously more expensive.

[rickadone]

all the price increases, including bitcoin caused by the demand (demand) is greater than the amount of supply (supply), the investors who began to believe with cryptocurrency and the legality of bitcoin in some major countries to make the higher the bitcoin price.

It is just a simple economic stuff that I expect even a basic class pupil to know. Once demand increases more than the supply, the value will rise and when supply increases more than demand, the value drops and on and on. The market is new, we have a lot of people who got in early so they have a stronger hand, it is highly speculative, so we should always expect sharp rise in prices.

More demand, higher price. And if the price of bitcoin goes down there's only one reason with it and that is there's a whale that starts to sell his holdings.

Whales are another reason for why bitcoin is having more demands. They do buy in large scale and unfortunately they do sell in large scale. When bitcoin will be getting more established these whales may lose their "virtual power" hence no worries  .

[MarkusIsaiah]

In my opinion, bitcoin is now on demand or popular. right now many people around the world know and used bitcoin so that's why the price of bitcon increase very fast.