Topic: Why is the price of bitcoin so high - page 138. (Read 15536 times)

Everyone is buying bitcoin just as an investment for fast income and not for practical use so it kinda lost its charm.

It's very certain that nobody can control its price. But what they can do is making regulations regarding to bitcoin price so that the price can drop down a bit. This is hard. Lots of people see bitcoin as their favourite asset.

I see bitcoin as a reserver currency and companies/people want to have it.

Ofcourse the price of bitcoin is high.because bitcoin price increase due to high demand for the coin by users.
And bitcoin is the first digital currency and the price value of all other currencies is calculted on the basis of bitcoin.

Yes daily new people are investing in bitcoins, and the demand in the market is increasing. But at present, i think some group of rich people are investing in this bitcoin to tempt a normal people to invest in this bitcoin. Because now the bitcoin is becoming popular in every country and people keep watching the bitcoin movement and investing.

No one (including governments) can control the price of Bitcoin. The price of Bitcoin is completely based on free market rules. Simply supply and demand. Currently, Bitcoin is getting more popular everyday and probably a few thousans of new people buying it. It is also very new texhnology and therefore it is still volatile.

The price of bitcoin is this high because of the more people are getting into crypto currencies and investors are investing heavily into bitcoin. This is making the crypto economy gain the interest of people and the price rises cause of much demands of bitcoin.

I think it's probably because of bitcoin was the first coin that released. The hype was so strong back then (I think until now also). Plus the euphoria made by the media about the bitcoin making it gained more and more popularity. Also there's some movie and documentary made for bitcoin.. I think maybe one day, there's an altcoin that could defeat bitcoin. Eventhough the chance would be like below 10%.

My take on it

1.  BTC first to market, first to adoption, first to acceptance (yes adoption and acceptance are different   ).
2.  Majority of BTC is still held by few hands/large mining operations/equipment manufactures compared to the amount held by the average person (us).
3.  Large mining operations have set over head in equipment, maintenance, electricity that have to be met, they will not sell at a loss.  Since these types of opperations control the majority of the BTC along with hardware sellers and select other, then they essentially control the market.  They will hold BTC until they get the price that is needed to recoup costs, keep the farm mining, replace existing equipment ect.  When they hold, supply goes down, as supply goes down, demand/price goes up.
4.  As demand goes up because BTC is first to wider spread acceptance, (ie; Those who know nothing of "crypto" currency have at least heard the term Bitcoin), Demand for faster ASICs goes up because more people want to mine to get a piece of the pie, leading to more efficient miners, leading to new equipment having to be purchased to keep up with difficulty adjustment, leading to more expenditure of CASH, leading to higher prices of BTC needed to repay those expenditures.  It's a circle.....


Hypothetically, if all mining were to stop today, and no other BTC could be mined, then there would be no need for the insane amount of hashing power we have today.  If adoption by merchants, ect stayed where it is today, would BTC hold steady or would it drop?

If usage, acceptance, and dissemination (BTC getting into many more hands) occur, then it should continue to rise based on the way any other traditional currency does.  Right now BTC trades a lot like a commodity on an exchange.  Commodity prices vary greatly based on production costs.  Right now production of BTC drives a lot of the market.

The fork make a lot of people turn their altcoins into Bitcoin, i think that is the main reason for its big increase.

Bitcoin is the first digital currency and the price value of all other currencies is calculated on the basis of Bitcoin. Bitcoin is the reserve money.
Demand for Bitcoin is increasing, so the price is also rising.

This is the first coin. It is known throughout the world. It's all PR. Inflated price is artificial.

Because they have limited in Marketplace. Although limited, many people want it, so the price is high. Maybe security reason, or demand rules make the price rise.

There's other reasons why Bitcoin is at a high price, people have promoted this coin in movies so they are only learning about it now and they are purchasing the coins.

Similar questions have been asked on this forum. first you need to understand that bitcoin have the highest market cap. alot of people use the coin to pay for goods and services daily apart for trading or investing with it. bitcoin price increase due to high demand for the coin by users and this could happen also some other coin if the demand increase as well and this rise might continue if the demand continue to increase

Bitcoin for me at this time is very cheap and I have spent all of my assets to invest in Bitcoin because I believe that Bitcoin prices can reach $ 200,000 and this market will be a great destination for invest

First of all it's the first cryptocurrency all over the time. The amount of coins in circulation is much less than demand. And this amount couldn't grow instantly due to decentralized emission. So demand is much higher than supply.

It's the king of the market. We all believe in it and it's gonna be $100,000 within 5 years I think. These are the reasons.

Bicoin is the most stable currency that shows gradual increase over the last years. With the growing popularity of cryptocurrecies, more and more people prefer to invest their savings in BTC for a long term. Even though Bitcoin has a lot of disadvantages as slow transaction speed and high fees, it's still very popular. As assume that BTC can get up to 10000$ in few months.

Because bitfinex is creating tethers out of thin air and pumping it into margin book, which increases the price of BTC.