Why Bitcoin price is so high?

[Blaze]

well, I really agree with what you say because currently only bitcoin has a very high demand because bitcoin can be used to buy whatever you want so make the best of bitcoin.

[Malam90]

well, I really agree with what you say because currently only bitcoin has a very high demand because bitcoin can be used to buy whatever you want so make the best of bitcoin.

Bitcoin price will go up more in the next few weeks. Maximum Bitcoin experts believe that Bitcoin price may hit $20000 in the next few months. The recent pump has showed its legit reason and recently Paypal has accepted Bitcoin which has put positive impact on its price. I won't surprise to see Bitcoin price if it hits $20k sooner or later.

[syedrasool2011]

Bitcoin has touch high at 16k now price is going down about 15k.

[Rain075]

The price of Bitcoin we see is much higher now.  But we still can't say the exact reason behind the price increase.  But I think the impact of the US election has increased the price a little bit.  There are also more different reasons that we may not be able to say is correct.

[axt]

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......

Because only this crypto coin is really decentralized.

[ttcsalam]

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......

It seems like a lot of previous statistics.Currently Bitcoin has gone a long way and is going to be expected Will be in a better position.
It's just a matter of time.However, the price of Bitcoin is rising and the rest are not rising.

[Altcoin1998$]

Bitcoin has touch high at 16k now price is going down about 15k.

Don't worry sir,, bitcoin will again bullish in near future. We all waiting for jo Biden support.

[Arendra]

The price of bitcoin can be very high, because indeed many are looking for and like bitcoin. So that the owner can set a high price because of the high demand. In addition, bitcoin's struggle to reach the current high price has been quite long. So it's no wonder the price can be very high.

[IvugeoEvolutionCoin]

bitcoin has a very high price movement because it is affected by very high demand and has a very limited supply so that is what ultimately makes the price of bitcoin very high.

[mlawson71]

The recent rally, I think, was provoked by recent events, such as the American elections.

[azmirihaque]

Bitcoin price cannot be compared with others because it has own history how the price can improve. The price of Bitcoin can be so high because of its ATH in 2017. The price after the ATH still survives at the high rates, so we can see it untill now.

Yes I know. But we know that for increasing the value of any fiat currency depends on different factors like gold reserve, foreign currency reserve, demand in currency market, foreign trade etc. I wanted to know, are there any such factors against the price of bitcoin?

[doc]

bitcoin has a very high price movement because it is affected by very high demand and has a very limited supply so that is what ultimately makes the price of bitcoin very high.

Yes, agree. Very high demand and limited supply that cause bitcoin price is so high. I see many investors still enthusiast and believe in bitcoin. They doubt with altcoin. I think It is normal because bitcoin has biggest communites and still the best of Crypto.

[ranaprime]

It is a very simple question that why bitcoin is so high? We know that bitcoin is the first crypto currency. The crypto world begins with the name of bitcoin. At this moment most the people know crypto currency as bitcoin. There are more then 5000 crypto currency in the crypto market but bitcoin is the best. So definitely the price will be high. 

[AllSii]

well, I really agree with what you say because currently only bitcoin has a very high demand because bitcoin can be used to buy whatever you want so make the best of bitcoin.

In addition to the fact that bitcoin is in high demand among investors, it also has a limited issue. And this factor always pushes the price up.

[dekafee79]

It is a very simple question that why bitcoin is so high? We know that bitcoin is the first crypto currency. The crypto world begins with the name of bitcoin. At this moment most the people know crypto currency as bitcoin. There are more then 5000 crypto currency in the crypto market but bitcoin is the best. So definitely the price will be high.

Okay, I think your reason why bitcoin price is so high, because bitcoin is the first of crypto currency. Indeed, it is true, but I think It is the correct reason. The main factor of the price are demand and supply. So, bitcoin is high demand and limited supply, It is the reason why so high.