Why Bitcoin price is so high?

[Herry]

Bitcoin is a king of all cryptocurrency. So bitcoin price is high. Bitcoin price increases a good one but decrease also as a good one because from that only people earn with it every one knows that and lending type os systems also has benefits of have much money to lend it.

[Blaze]

that is because the influence of the very limited supply of bitcoin, which makes the price expensive, so as much as possible you should be able to take advantage of bitcoin by buying bitcoin.

[shadowdio]

Because bitcoin is an old coin created since 2009 so many people bought bitcoins that is why the price is so high. If all people in the world buy bitcoins then I expect it will reach $1 million price.

[lepbagong]

Because bitcoin is an old coin created since 2009 so many people bought bitcoins that is why the price is so high. If all people in the world buy bitcoins then I expect it will reach $1 million price.

the most noticeable increase in price is not only because many are buying but the small availability of demand. so if bitcoin increases a little and the demand is more, the price will automatically be high (economic law).
but can achieve with what you say, can and nothing strange to crypto. but when? we can't conclude yet. what we are waiting for is a price that might happen is a price greater than 2017.

[kent47400]

Because bitcoin is an old coin created since 2009 so many people bought bitcoins that is why the price is so high. If all people in the world buy bitcoins then I expect it will reach $1 million price.

It could also be like this because this is the right answer when Bitcoin is supposed to be expensive.
Bitcoin is an old coin and hard to beat by various altcoins because Bitcoin traders prefer Bitcoin over altcoins which sometimes become rubbing ash coins!

[naitik01]

Positive news about bitcoin and cryptocurrency is continuously coming in the market, due to which the demand for bitcoin is increasing in the market and its effect is clearly visible on the value of bitcoin, so the value of bitcoin is getting high.

[ayatoslaw]

~snip~

We can see that Bitcoin is the most valuable coin in the crypto world. But it is a matter of concern that the price of it's nearest valuable coin (Maker) is 20 times lower than Bitcoin. Why Bitcoin price is so high? Can you explain please......

One of the reasons is because Bitcoin is listed on all exchanges and becomes a trading pair, this also causes Bitcoin liquidity to be greater than Maker (MKR) and at the same time makes many people hold Bitcoin indirectly.
If a Maker is Listed on many Exchanges and becomes a trading pair, I believe the Maker price will be at least 20 times higher than the current price.

[trauchot]

Bitcoin is the first cryptocurrency and Bitcoin is the backbone of cryptocurrencies, so most of the big players have invested and are still investing in Bitcoin and the price of Bitcoin will always grow much faster than the price of other cryptocurrencies because Bitcoin is more in demand than other cryptocurrencies and it is worth noting that various news around cryptocurrencies usually associated with bitcoin, which of course also helps bitcoin grow in value.

[AllSii]

Unlike Ethereum, bitcoin has a limited issue of coins. And this factor always affects the price in the direction of its increase. Given the number of bitcoins, we can say for sure that they will not be enough for the entire population of the Earth.

[wawan96]

bitcoin is currently very high value because more people are buying and this year the purchase bitcoin is greatly increased so fast you could see bitcoin have much price high altcoin lower prices rise much higher bitcoin really increase so significant because of the role of the investor.

[satpol_PP]

You know why because the demand for bitcoin is so high and at that it price will go up constantly, that is what it is when a product have high demand.

I agree mate, bitcoin demand is so high. The basic factor of price is demand and supply. When demand is high, I think the price is also high. I know, many people prefer Invest in bitcoin than other. They said bitcoin is more profitable and more popular. Itnis the reason why, the Bitcoin price is so high.

[ayatoslaw]

Unlike Ethereum, bitcoin has a limited issue of coins. And this factor always affects the price in the direction of its increase. Given the number of bitcoins, we can say for sure that they will not be enough for the entire population of the Earth.

Indeed, the maximum bitcoin supply indirectly affects the market price, but this must also be accompanied by market demand, if without market demand the price of bitcoin will be difficult to increase.

bitcoin is currently very high value because more people are buying and this year the purchase bitcoin is greatly increased so fast you could see bitcoin have much price high altcoin lower prices rise much higher bitcoin really increase so significant because of the role of the investor.

Bitcoin price goes up because miners don't want the bitcoin price to fall deeper, because if it goes down the mining results can't cover the mining costs,
that's why miners prefer to hold their coins and whales choose to pump up the bitcoin price to attract new investors and bitocin starts the bull market trend.

[EthereumDev_]

The price of bitcoin can be very expensive as it is today because bitcoin has a very limited supply and has a very high demand, making bitcoin a very expensive price.

[Darryl Gambet]

The top 10 most valuable cryptocurrencies in US Dollar ($) in the year 2020.

Name of the coin           Value in US Dollar ($)
Bitcoin                                 9,262.67
Maker                                     463.27
Bitcoin Cash                           236.15
Ethereum                               235.11
Bitcoin SV                              185.00
Dash                                       69.23
Monero                                    63.62
Zcash                                      53.76
Litecoin                                    43.26
Augur                                      19.06

We can see that Bitcoin is the most valuable coin in the crypto world. But it is a matter of concern that the price of it's nearest valuable coin (Maker) is 20 times lower than Bitcoin. Why Bitcoin price is so high? Can you explain please......

The bitcoin are most popular and first currency that reach thousanf of dollars because of the internet and social media the hype and the popularity of it becomes high

[Lanirex]

Initially this Bitcoin did not have a price at all, but after people found out about Bitcoin, many people wanted to own it.  And because of the very high demand for Bitcoin, the price has increased, especially since the limited supply of Bitcoin has made the price of Bitcoin continue to rise.