Why BTC is having a high price?

[richmcrich]

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

You can see that the price of bitcoin is so high that it is very valuable because of the great bitcoin applications, which are accompanied by fast security and liquidity. One of the most important factors is that the bitcoin scarcity is what drives the price of bitcoin to as high as it is at the present time. I believe bitcoin prices will be even higher in the future and will be digital gold.

Bitcoin is still in its infancy and yes it has to make a lot of progress. If we look at the present price, even in this bleeding dip, it is expensive for majority of investor to buy a whole bitcoin at one time. This digital coin is the most expensive and profitable asset that the world can know ever. And you are also right about bitcoin soaring up more than what crypto experts can predict.

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[DRVX]

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 Bitcoin price rise I think because of the large number of demand ,user and because of the supply. like other products if the supply is low there is a large of number of demand, if the demand is low there is large number of supply, vice versa. Also the number of investors that are invested into Bitcoin and the user of it. As of now Bitcoin is very popular i think bitcoin is known in every country right now bitcoin become popular because of the number of user and because of social media that is why bitcoin price is rising. .

indeed social media is very influential on the development of bitcoin, from there will be many new investors who are interested in btc. so that if there is demand in large quantities then movement of btc is getting bigger too

All this hype that started around Bitcoin in 2017 pushed people to start buying Bitcoins. The demand for BTC was great, and the coin jumped high to the Moon.

[seviandyosi]

As a pioneer in cryptocurrency. Bitcoin has a good quality and the exchange system is also easy. This makes people interested in buying bitcoin. At first bitcoin is only used by some circles, but then many people in this world know bitcoin and interested to buy it. The high demand affected the offer, so the BTC price jumped in a short time at that time.

[warkop121]

Bitcoin has a high price because the demand is very high. Usually for anything that has high demand has a high price. Not only does demand, popularity, technology, and usage drive these crypto prices higher and higher every day. As you say, the price of Bitcoin is high but it is currently low compared to last year's high prices. BTC is the oldest and most popular and highly successful crypto currency. BTC parent of any digital currency.

[Omega Weapon]

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

In my opinion the reason for that was very simple for years there has been a debate about how to scale the network and it seems like we didn't make any kind of progress for a lot of time but finally the developers were able to activate segwit it may not seem like much right now just a decrease in the fees and that's all but it has opened the door for the lightning network which will allow bitcoin to actually become a currency we can use.

[kenelmark]

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 is affected by the supply of bitcoin which has a limit of only 21 million pieces of bitcoin while for now the circulation of bitcoin has reached 17 million so only the remaining 4 million pieces of bitcoin are still available that makes the bitcoin price becomes very expensive .

Exactly..
Bitcoin demand is getting high by the time, because many parties are starting to accept bitcoin as a payment currency. Bitcoin is also becoming more famous after producing many millionaires, makes people start to learn much about bitcoin.

[thend1949]

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

In my opinion the reason for that was very simple for years there has been a debate about how to scale the network and it seems like we didn't make any kind of progress for a lot of time but finally the developers were able to activate segwit it may not seem like much right now just a decrease in the fees and that's all but it has opened the door for the lightning network which will allow bitcoin to actually become a currency we can use.

The price of bitcoin pumps higher when demand rises, but in most certain cases dumping will happen all the way due to panic selling. We are out of control that's why people who seems to see it crashing will decide to sell early and don't care to hold longer. That becames worst if a person relied on his/her daily expenses from bitcoin profit mainly the food that feeds their families.

[Deubila]

Bitcoin is expensive because bitcoin is the first coin in the cryptocurrency market. Bitcoin is very popular. Human needs are increasing and using as well as investing in bitcoin is also common. Therefore, the bitcoin price is higher

[TiffanyLien23]

Well I just have thought that's because bitcoin increasingly in demand of many people, and all its advantages more visible among many people. And not only that. Many people who're just tried till feel more interested and finally feel comfortable with it. Well the point is that bitcoin develops well from time to time until its popularity is increasing among many people.

[betetakjelas]

the rise in bitcoin is due to the fact that more and more people are enthusiastic about bitcoin as the parent of altcoin, now its value has dropped dramatically as many people are selling panic

[gilangIDR]

The reason for the rise in bitcoin prices is the demand factor, as more people use bitcoin the bitcoin price will increase and vice versa when only a few people use bitcoin so the bitcoin price will decrease. It's like a spike and a lot of people's interest in bitcoin that even causes bitcoin prices to be out of control and tends to rise tremendously. If compared then I make sure that bitcoin is a very profitable investment because of the movement of its price so fast. Let's continue to use bitcoin and we will get the benefits that we can take from the benefits we achieve.

[Budugbass]

I just think that it's strongly influenced by higher demand factors over time among many people. And perhaps from time to time more and more people think that it should try and support it become more popular until it's widespread in its impact. Anyhow this is something special that's on cyberspace and this managed to attract a lot of enthusiasts due of the various advantages of its characteristics, perhaps even due of its uniqueness.. it can causes the people being interested.

[trimulia]

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 price is high because much people using this currency for any transaction, more people buying bitcoin = more expensive

[isyot12345]

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 price is high because much people using this currency for any transaction, more people buying bitcoin = more expensive

Because of many supporters and investors we have. BTC is a good opportunities and a good income. our price is high co'z of them. and maybe we are in the risk for now but soon that time will come back we are very lucky co'z of bitcoin. so let's invest to rising up. trust and believe this coin for our future and for our world.

[Angi]

I don't know what is the exact reason why bitcoin having a high price in the market but I thought that bitcoin have it because many people are support and believe with it, if no one will invest, believe and support in bitcoin I think it doesn't have value until now and no one will have interest on it.

[bhabygrim]

It is because of the investors who are driving it up through its demands.
I think there are lot's of people who become interested in it and want to try something new.

[darkr]

because bitcoin is now the hype and many people want to make money from it. The more people care about bitcoin, the higher price it  will be. The money keeps flowing into bitcoin market cap which makes it bigger and bigger every month.

I also think that it is exactly the hype around Bitcoin that made its price getting so much high. People still believe mass media, but I hope that Bitcoin is great even without this hype.

[Sled]

Bitcoin is having a high price because the demand is too high for the supply of bitcoin so there is no choice for the people but to grab bitcoin even the price is higher compare to the price last few years because the thing that they are trying to get here is the potential of bitcoin since it have a good system and technology that can be fully maximized in the future.

[Nikolya]

Bitcoin has a high price because it is the most popular and familiar currency, which is primarily invested in money, increasing its value.