Why is bitcoin so expensive?

[Yomose 3704]

11 hours ago, Mostakim694 said:

Bitcoin is one of the most popular coin in this platform. Many people used this coin. Bitcoin is so expensive because Bitcoin price is huge. Ltc eth coin price is not huge. But BTC is huge than BTC coin exchange so expensive. I using ltc coin.

Not because bitcoin price is huge that determines the price of a coin, the price depends on the demands and supply. First, bitcoin is more demanded for. Second, bitcoin has limited supply, that is why it is called a deflationary currency. 

[Relium 424]

first reason of why bitcoin is expensive is most of the investors that join cryptocurrency ecosystem thinks bitcoin as a safe port. Second reason is bitcoin has a huge market cap, today every single exchange have bitcoin table available for exchange other currencies and this causes users to buy bitcoin for other currecies exchange. When a thing sold so much that means its price goes up.

[SergePhobia 94]

On 29.09.2020 at 17:02, Sp19a1ma002 said:

I think bitcoin is so expensive because it's become a more popular Cryptocurrency in the world and many people support them and use for the every where like trading and investment... So it's demand increase day by day... So that's why it's a more expensive crypto currency in the world... And every one know it's a profit able coin in the world...

BTC is the number 1 Cryptocurrency and the highest value of Cryptocurrency in market. Bitcoin is expensive because of the supply and demand of Bitcoins, many people everywhere use Bitcoins and the value of Bitcoins is increasingly right now.

[Nafiaaaa79 111]

Of course,Bitcoin is expensive because it is the first ever cyrpotocurrency,It is the most popular and also the most highest market priced cryptocurrency.

[JGUMoney Official 48]

All that is what makes bitcoin expensive today because it offers many advantages, also remember that it is a currency that goes against inflation and that in my point of view is usually very good, it will not be strange to see the future bitcoin being even more expensive than it is currently.

[KpymounapeHb 33]

Because it is first cryptocurrency, which was created in 2009. Bitcoin also has millions investors in whole world. People every days transfering their online money by using BTC. And some countries are starting to use BTC as a payment method. I think so.

[Xavier93 3]

One of the reason I could come up with is that bitcoin and any other coin are said to be the alternative to money and so many people actually lost in this point because bitcoin came first and so when people thought it was the alternative , they jumped fast and the demand created a very expensive coin. 

The other reason I could think of , is easy, if you look at bitcoin as compared to other metals such as gold, it can actually be counted and so store of value, when you look at the unknown supply of so many things, you realize this could affect the price, there is no telling the amount of gold we have, and also there is no telling what are the issues to which can come up with the said commodities, but with bitcoin you have a certain stipulated amount, and that is is, so this brings the price to an average, but expensive.
 

Good luck and have a good day.

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[aguss_arguello_ 5]

wow your information is very good thanks for everything you said I hope it has more repercussion

[ramsar 195]

Because it is the best currency and because it is the most deserving currency because of its reputation and because it is one of the first, oldest and widely used currencies, its market exceeds 200 billion dollars and this is a very large number that is expected to rise more and touch the number it reached in the years of 2017
All we wished for was to collect the largest number of it in order to benefit from the day it climbed more

[Javier5678 48]

 

some reasons why bitcoin is so expensive; It is because of its high level of trade, it is one of the most powerful currencies in the market, also because of its high use worldwide due to its cost of mining and the increase in its own technology, we must also take into account that it is an asset not palpable highly recognized and free to acquire

[Arta 1]

On 11/23/2019 at 3:34 AM, Slavish said:

Why is bitcoin so expensive?

Здравствуйте! Биткоин такой дорогой по нескольким причинам: Ограниченное количество токенов в 21 млн. По расчетам последний биткоин будет добыт майнерами в 2040, каждые 4 года происходит халвинг и награда майнерам уменьшается в 2 раза. Анонимность транзакций. Можно переводить любые суммы и ваш кошелек никогда никто не сможет отследить. Спрос и предложение. Чем больше его покупают, тем он дороже. Скорость транзакций, если сравнивать с банковским переводом. Можно брать кредит в биткоинах и расплачиваться им в магазинах.

 

 

Hello! Bitcoin is so expensive for several reasons: A limited number of tokens in 21 million. according to calculations, the last bitcoin will be mined by miners in 2040, every 4 years there is a halving and the reward to miners is reduced by 2 times. The anonymity of the transactions. You can transfer any amount and your wallet will never be able to track. Supply and demand. The more people buy it, the more expensive it is. The speed of transactions when compared to Bank transfer. You can take a loan in bitcoins and pay them in stores.

because day by day many people use bitcoin, so expesnive price

[majeron 88]

I don't think it's expensive. It is true that the price was lower in the past. but according to world conditions, the price of bitcoin is not expensive in my opinion.
 

[felipe isaza 15]

Due to its number of coins that has 21 million in total and with its capitalization clan that makes bitcoin rise in price quickly if people invest and a large amount of money enters

[Tonal 2]

After making a deposit, if they hold that deposit amount, put it on hold, ask you to pay a fine because they decide you have deposited money from laundering sources, what happens with a particular exchange?

Absolutely scam!

If they think you are engaged in money laundering or fraudulent activities (based on evidence, data research), they should freeze your account and any attempt to charge you a fine to gain access to the account and the fund is a fraudulent attempt.

[kevinprin 37]

Bitcoin is the most valuable cryptocurrency on the market. What factors have caused its price to reach the $ 16,000 mark, I will explain in detail so that you understand how and why it happens. ... Investing in Bitcoin is as simple as buying bitcoins. price difference to buy in the exchange house with a cheap price and sell in the expensive one

[TommyMoonD 46]

the most obvious reason is that the coin is super rare and of course for the other big reasons like: the coin being popular, divisible to so many satoshi digits, usage, etc.

[kengman 34]

I think we could still take back BTC. But we would have to have a plan oh, like the suits have had a plan to take it over. Failure to plan is a plan to fail. And so far, the only plan I've heard anybody talk about is the plan to get individually rich and don't think about the collateral damage of BTC becoming a store of value rather than peer-to-peer cash

[kenzi 509]

The first Bitcoin futures were introduced on 18 December 2018. The Bitcoin price subsequently fell from over $20,000 to under $4,000. For a long time, it was difficult to pinpoint how much effect the introduction of Bitcoin futures had on Bitcoin’s dramatic fall. 

[rafa31x 198]

The price of Bitcoin rose stratospheric in the last weeks of the year, a fact that leaves many smaller players in the market with massive gains and many larger players, millionaires. First we must understand what drives the price of bitcoin. The main theory that investors have about the impressive valuation of bitcoin is that cryptomoney will soon benefit from large injections of institutional money from brokerage houses and financial markets. This movement of the capital markets also legitimizes bitcoin in the eyes of Wall Street, an important point considering that cryptomoney is still considered a dubious investment in world financial indices. Another reason for the increase in the price of cryptomoney comes from the large number of people who see bitcoin as a "store of value". This group of enthusiasts bought and retained Bitcoin and will not sell it at any price today.

[ahmedsharaawy 4]

Because of its use in mining, investment and trading operations, Bitcoin is considered the first currency in the world and there are many demands on it. I have already said that the more demand for something increases, the higher its price and its value 

[setifien 1016]

Beacuse its supply is relatively limited (total supply is around 21M coin)  and the demand is greatly high, in addition whales are trying to pump it (or dump in some situations) to make profits

[Abdullah ameen 11]

The most obvious reason is that the currency is very rare and of course for other big reasons such as: the currency is popular and all people trade in it on a daily basis because it gives good profits and this currency is considered one of the best currencies

[abdulrhman 2]

Bitcoin will rise higher due to the presence of 21 million coins 
depending on the ratio of supply and demand, 
and the entry of a new audience into the cryptocurrency market 
because of their presence more in their homes 
and their knowledge of the cryptocurrency due to the pandemic.
 

[ayoayo 935]

It's the main crypto coin around the world, pure digital gold. It's popular and well known among people, at least 30% of them heard about bitcoin and mb tried to buy it to store in wallet for nea future.

[mahdichelloi 0]

first thing is the demande and the supply the demande is much higher then the supply wich is only21,000,000  BTC    and the second factor is the high mining cost those two factors are exactly the same factors that made gold at hight price