Why Bitcoin price is so high?

[masudginanjar]

We're going to turn the facts to Bitcoin!

Why is the price of gold expensive when compared to silver, copper and brass?
Because gold has advantages over others, namely difficult mining.
Similarly, Bitcoin is difficult to mine and that is why Bitcoin is expensive.

[ankhi00]

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......

In my own observation I think bitcoin price is so high because of its reliable project and policy. Also I think bitcion is a smart contract  platform and  investor are confidence to invest in bitcoin because it make them more profitable.So,the price of bitcoin is so high day by day and hold their position in the market.

[Rubel007]

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
This is the list of top 10 coin in crypto market .the notable think is the second position of other coin .they are rediculously low that is why people buy and sell Bitcoin and price growing up binaryly

[Riya143]

There is a lot of speculation about the price of Bitcoin. But many experts think that the price of Bitcoin will be one million dollars. But I think the price of bitcoin will be 20 to 25 thousand dollars. Towards the end of this year but in later years the price of Bitcoin could be one million dollars. But everyone believes that Bitcoin is the best currency, I also believe that in the world of Bitcoin currency it is never possible to suppress a king before itself so the price of Bitcoin will definitely go up.

[mlawson71]

I can't really take those experts too seriously, to be honest. 1 million USD sounds ridiculous to me.

[Muneeb22]

Now the BTC price is high at 11850$ and soon this will go more high and touch again 20k$ and after that it will touch the 100k$ soon in short time.

[Gubre]

That is because there are more investors and people who are very interested in bitcoin. People around the globe can now make a transaction easily through bitcoin. And nothing until now can serve in crypto space aside from bitcoin.

[mlawson71]

Haven't been people able to do this for a while now?

[jet]

thats because BTC is the most loved currency in the whole crypto world. this is the first coin and the adoption and acceptance to the people is so high. Many people know only bitcoin the other crypto currency was not even known to some people in the world. If you say, cryptocurrency the first thing to come in the mind is BITCOIN.

[superstarsp]

The supply at the time of writing is around 17.2 million Bitcoins (also accounting for lost Bitcoins, or the Bitcoins Satoshi Nakamoto mined before opening the blockchain up to other users). ... In short, as supply falls and demand increases, Bitcoin's price will rise


According to Nexo's researchers and analysts, a massive rise in the Bitcoin price could occur due to the upcoming halving event. A halving event in Bitcoin is when the amount of Bitcoin generated by the network roughly every ten minutes is cut in half. This event takes place about every four years

[Lutera94]

its normal think that bitcoin is king of crypto & others crypto coin run with base of bitcoin.when bitcoin created bitcoin price was under 1$ & bitcoin was the 1st cryptocurrency then other crypto comes but day by day bitcoin demand going to high & then other crypto comes. thats why bitcoin price high.

[Quantum X]

I believe one of the very reason why bitcoin is so high because it came first with realistic promises and it does what it says.

[filterMAX]

Bitcoin is also under the very cheap price of 1$, but over time investors have become more and more interested in investing in it, so what makes bitcoin prices soar higher than other coins is due to low supply and high demand.

[mlawson71]

Wait, when has Bitcoin been that cheap?

[aji678]

The price of bitcoin is high because the supply and demand is very high, besides that bitcoin is increasingly difficult to obtain and many people are mining bitcoin. therefore bitcoin is rumored to reach new ATH in 2021.