Why Bitcoin price is so high?

[sky20]

Because Most of people want to have bitcoin. They try to hold bitcoin. They belive that bitcoin will be the valuable assets better then gold. Now bitcoin buy order is more then sell order. In this sequence definitely bitcoin price will be high.

[vaysar]

The price is rising and will continue to rise due to the extraordinary demand from the major players. Institutional investors come into play, and thanks to this, the crypto industry continues to develop and the market continues to grow.

[John Kammy]

Bitcoin is an extremely volatile currency, which is something that even a rookie trader knows. When the market changes, the price of the coin changes abruptly and dramatically. It does not jump or plunge just by a few dollars, but it takes a pretty big leap whenever it changes.

Bitcoin now hits $17000 will it sustain or get rejected?

 

[DAMKAR]

The price is rising and will continue to rise due to the extraordinary demand from the major players. Institutional investors come into play, and thanks to this, the crypto industry continues to develop and the market continues to grow.

Yes, I think extra ordinary demand is one of the reason bitcoin price so high. Because bitcoin is limited supply. Bitcoin is increasing now, many investors have believed bitcoin will hit 25-30 k USD at early next year.

[efxtrader]

Do you think it will rally to 20k again?

It could happen this month if the trend of this price increase continues. With the transaction value recorded as the highest transaction value after 2017, I thought the $ 20k price tag was just a matter of time

[ghost77]

Because bitcoin is always high demand adn more popular than other coin. We all know bitcoin is limited supply.

[vaysar]

Institutionals are investing in Bitcoin and it is reaching all-time highs as hedge fund managers, software companies, and celebrity billionaires seek inflation hedge.  The price of bitcoin is steadily growing and this should be used.

[vaysar]

People born after 1981 and before 1996, it was noted that 1.84% of the combined net worth of this demographic was allocated to the Grayscale bitcoin trust, making the BTC-related investment vehicle more popular than Berkshire Hathaway, Walt Disney , Netflix. , Microsoft and Alibaba Group. This made GBTC the fifth most popular among millennials,

[expander]

As the first coin in crypto and also the coin to survive the longest. so I am not surprised if the price of Bitcoin is so high. What's more, many people know Bitcoin more than Crypto. So Bitcoin has become a trend in crypto and has become a mascot for the Crypto world.

[Nboramir]

Habits aren't easy to let go, and bitcoin was the first unit to teach people cryptocurrency. It dominates the market as it is considered both reliable and the ancestor of crypto.

[Mbah Jenggot]

I have read many comments at this forum, I agree the reason why bitcoin price is so high, because bitcoin is high demand and limited supply. I think It is true, and bitcoin is most popular than other coin. I agree with this opinion.

[Fadhilz123]

1. The demand is so huge
2. The supply of the coin is measly
3. Halving system, Every 4 years the reward for miners will be half
4. POW consensus mechanism, people must buy expensive hardware if want to mining it
5. Miner increase gradually and of course the difficulty of the coin also will increase
6. If difficulty keeps increase, people will spend more money to buy the mining hardware, and make him will not sell their bitcoin for a cheap price in order to cover their cost of the mining hardware.

[Carbitcoin]

I have read many comments at this forum, I agree the reason why bitcoin price is so high, because bitcoin is high demand and limited supply. I think It is true, and bitcoin is most popular than other coin. I agree with this opinion.

It was constantly argued that the consciousness of bitcoin was the result of an economic crisis around the world and, oddly enough, precisely because of the problems with the pandemic, which also brought economic decline in every country, affected the cryptocurrency market and Bitcoin. Precisely because of the economic crisis and the depreciation of all assets to which we are accustomed, investors were in search of an alternative, and in this regard, they recognized Bitcoin as the best.

[IyemRoker]

Bitcoin wants to be owned by everyone and altcoins are being thrown away by everyone. This words simple since created Bitcoin on 2009 .
Everyone is looking for Bitcoin and eventually Bitcoin goes up in price and as long as Bitcoin is not sold by the owner, the Bitcoin price will continue to rise, like it is for auction goods.

[Crypto_Somrat]

The price of Bitcoin is so high because many demands in the market. So, the price of Bitcoin can be bullish many times. I think some people have the big role to pump the price in previous years. They may pump the price and create hype with good news of Bitcoin future.

Bitcoin is the number one coin in the cryptocurrency world. This bitcoin has gained the first place in terms of popularity. There is also a huge demand for this bitcoin around the world. And investors feel comfortable investing in Bitcoin. So the popularity of Bitcoin is increasing day by day.