Why Bitcoin price is so high?

[I-Bit]

- bitcoin is scarce, bitcoin is the gold of the digital world and is the father of altcoin which inspired coins that currently exist -

I agree, we only have one Bitcoin. There are no other coins that can be as good as Bitcoin. That makes Bitcoin unique and becomes like a gold in crypto space. I also think that this uniqueness to make Bitcoin be always king for all crypto coins. We are lucky that Satoshi created that Bitcoin with amazing concept.

[Cici Lee]

Bitcoin was a few cents in the previous period, it was actually because not many people knew and recognized it, and it did not form an effective consensus. But then people gradually realized the value of Bitcoin. Of course, this value may come from the needs of transactions, collection needs, research needs, value-added additional landing projects, and so on. It also caused the price of Bitcoin to rise, but in summary, Bitcoin changed from a weak consensus to a strong consensus. At this time, the currency price also rose. In the early wild era, to the later golden age, bitcoin changed from a derogatory perception of air, scammers, and MLM to gold. The future, synonymous with hope, also indirectly changed the price of bitcoin.

[ranaprime]

In crypto wrold Bitcoin is the Frist Crypto currency. Many People know crypto currency as bitcoin. There are several issues to growing high price for bitcoin. Bitcoin is the first Crypto currency, very beginning of it's launch the price go high rapidly. Bitcoins price always in the highest position. People fell more secure having bitcoin. It has limited supply this is one another important issue for high price.

[gotbounty]

There are many reasons why BTC has the highest price so far and none can pass it although they have many great project ideas. They are:
1. BTC is the first crypto with very difficult development to be accepted in the market.
2. This coin is really trusted and has the big value on the market. Everybody will love this more than other coins.
3. This coin is also limited in supply, many people around the world wants it.

[Malam90]

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......

Bitcoin is the first digital coin and father of cryptocurrency. Bitcoin is limited to 21M and you can see the marketcap occupied by btc is nearly 63% which means more than 2500 altcoins holds only 37% marketcap. Bitcoin is the most popular and well known cryto. Without BTC, can you imagine the existance of crypto? Probably not, So Bitcoin price is not high with comparison to demand, popularity, usase and supply.

[ttcsalam]

All coins are created based on Bitcoin.That's why the price increase is always higher.All investors prefer it as a means of public investment.
As such I think its price is always high for him.

[Muneeb22]

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......

All these coins have good price but i hope that Bitcoin will touch the high more in just some months and Bitcoin is the king of all coins thats why its price is high.

[syedrasool2011]

bitcoin high price this year is 20k soon coming

[Tanimariya]

bitcoin high price this year is 20k soon coming

Yes, The price of bitcoin has increased a lot. The current market situation is much better. It will be better. Bitcoin is a crypto currency valuable. So bitcoin owners do not want to sell bitcoin. Because their idea is that the price of bitcoin will be 15k. But many expect more than that. I also hold a little bitcoin. I want to hold bitcoin until I get more profit. I think the price of bitcoin will be 20k. Do you agree with me?

[dodok]

if in my opinion there are many factors that make the price of bitcoin high the first is the number of requests, there is positive news about bitcoin, is this the result of bitcoin being split in half so as to push up the price of bitcoin. that's if in my opinion.

[Gurujebs]

Institutional investors prefer to leave their stack of cash in BTC because its truly decentralised, its the first technology by Satoshi itself. They believe its only bitcoin that cannot be manipulated.

[tervel]

Bitcoin’s value derives from supply and demand, but the price of Bitcoin is subject to a range of influences that mean it can change without warning.Supply and demand also influenced by news about BTC.

[mlawson71]

Which news made it rally so much then?

[sailorboy]

Because bitcoin gotten suddenly popular in the investors, more people  will accept the market value but the utility is very little.
I guess too that's there's a distinct possibility that the Bitcoin got expensive because the price is being manipulated by the people.

[syedrasool2011]

because whales are back bitcoin will pump 15k just wait