why is bitcoin price important?

[cloudfir3e]

the importance of the bitcoin price for investors and traders because bitcoin exerts a lot of influence and control on most of the altcoins that are spread on the crypto market.

therefore altcoin prices are usually measured and tend to follow the ups and downs of Bitcoin prices.
These pioneering crypto assets may be flanked by more than 3,000 competitors, but still account for more than half of the entire crypto asset market cap.
The crash of the bitcoin price will also affect a significant downturn in the cryptocurrencies market

[Codswallop]

It depends on the people how they want to use their bitcoins. Those who have lost their money and are willing to recover are the ones who are mostly worried about the price. Some see it as a short-term investment and for them price is crucial. For long term holders price isn’t a matter of concern.

[doomloop]

You can't deny the fact that Bitcoin dominates the market and whatever it happens to this will give a huge impact on the market and altcoins had follow the trend. If you are investing in altcoins, checking the market and the price of Bitcoin is necessary in order for you to be aware of the situation and give you the chance to prepare for the possible changes.

I so much love how Bitcoin operates, starting from the Blockchain technology down to every other thing like it’s volatility.. It confidently dominates the market and decides what happens to the market with the performance of altcoins inclusive. As a matter of fact, you must have already known by now that the main currency in the cryptocurrency markets is Bitcoin.

Basically, price is important for the simple reason of comparing; people may not use price for this exact reason still valuing is just a way of identifying and comparing hence price for bitcoin is most important one in my opinion.

[minime0105]

It depends on the people how they want to use their bitcoins. Those who have lost their money and are willing to recover are the ones who are mostly worried about the price. Some see it as a short-term investment and for them price is crucial. For long term holders price isn’t a matter of concern.

When you check bitcoin price this time around even see that the prices for sweating at the market and the price is not constant so whoever that invested in cryptocurrency especially Bitcoin his objective or aim this period is make sure that the price of cryptocurrency has regained or increase so that it investment will be profitable and the beneficiary to him or to the investor so whoever that invested all that have coin especially Bitcoin mindset is for bitcoin to grow more and more so that profit will be made for any slight investment

[larry_vw_1955]

It seems to me that people are primarily interested in bitcoin speculation, i.e. buying it cheaper and selling it higher. It is normal, it is a human desire to improve one's financial situation. But even if you consider the value of bitcoin as a value transfer mechanism, all the value in the world is still measured in other currencies, such as dollars. So the more valuable bitcoin is, the less you have to spend it to buy something.

one thing we have to be careful of is ponzi schemes. when something is not tied to fiat and the market determines its price, it can turn into a ponzi scheme. for example someone invents a coin that is inflationary so that the supply is not fixed but growing every year. say at a fixed rate of 20%. that's a ponzi scheme. the question really is, what % makes it a ponzi scheme such that any lower % is legitimate?

[wmaurik]

It depends on the people how they want to use their bitcoins. Those who have lost their money and are willing to recover are the ones who are mostly worried about the price. Some see it as a short-term investment and for them price is crucial. For long term holders price isn’t a matter of concern.

Long-term holders will also see price as important even though they don't pay attention to it every day because in the end long-term holders will also sell what they have held for a long time so the issue of price will also be very important to them. Because the goal is also almost the same, namely looking for profits after holding, both in the short term and in the long term. So the price is always an important point even though it is not placed on the main thing.

[BITCOIN4X]

It is very clear what you are saying because every asset that is considered to have value and is also conceptually good, there will always be supply and demand through the market and it will still be determined by the price. So the price of Bitcoin becomes very important to be seen by those who work as investors and also as traders.

I hope you don't misunderstand what I'm explaining, bitcoin become valuable on demand. The higher the demand that occurs in the market, the higher the price, that is the law of the market for any tradable asset. The value of bitcoin is highly dependent on supply and demand regardless of its initial concept as a currency. It is traders, investors and adopters who keep this asset valuable, so there must be a correlation.

Usually those who don't focus on the price of Bitcoin are the developers of new cryptocurrency products with different concepts, because they basically also really like Bitcoin and also try to build new products in the hope that they can be as valuable and valuable as Bitcoin.

What I mean is, long-term investors or long-term holders are those who are not often in front of the monitor to monitor prices. They don't focus on price or trading because they only target long term results. About altcoin developers, that's a different matter and I don't think they should be a variable in this case.

[Derbind]

The reason why there are so many posts about the bitcoin price here is primarily due to the reason why people are going into bitcoin. Most people will begin investing in bitcoin with their fiat money, comparing the value of bitcoin to the fiat on a daily basis, and they will wait for some profits over their investments to return to the fiat they put in. If people examine closely, they will see that if they truly believe in bitcoin being inflation, they will not need to exchange back to fiat, because regardless of the price of each bitcoin, one bitcoin is always one bitcoin till you sell it.

[evtwumasi]

I really like your point. A lot of people get it wrong that bitcoin is only here for us to cut barriers to financial institution restrictions. As for me I always store my wallet in Bitcoin irrespective of whether it is bearish or bullish.

I have friends who out of panic attack during the COVID-19 intensity withdrew all their BTC because they feared 

It's like telling me to go withdraw all my bank accounts from my local bank because there's a tsunami. Luckily for me, with the up and down in BTC price my wallet still sits on mybitstore . I would always incorporate BTC as a saviour to resolve this financial institution mess.

[larry_vw_1955]

It's like telling me to go withdraw all my bank accounts from my local bank because there's a tsunami. Luckily for me, with the up and down in BTC price my wallet still sits on mybitstore . I would always incorporate BTC as a saviour to resolve this financial institution mess.

are you plugging a phone app? android/iphone apps are maybe ok for small amounts but that's about it. by the way, never heard of mybitstore and certainly wouldn't use it based on one person's post.

[Trapezium]

Bitcoin was intended to be a p2p cashless digital money transfer system and it still is. But the moment volatility came along with the asset many shifted more attention to making profit by constantly trading it for other commodities as prices kept fluctuating. But how does it sound that an asset that has the potential of giving back a high ROI is spent like a common token. Bitcoin deserves some respect so i keep and make more funds for myself.

I think this is just human nature. Why would anyone think of the aim of bitcoin if they are at a loss? Though bitcoin is a long term asset and should be treated as one.

[8rch7]

Whatever business we will run, it is certain that every investor will see the price, and see the developments that occur, and trace it first before they enter into any business, as well as bitcoin, of course, everyone will question the price of bitcoin and it is very important for us to learn In the past, bitcoin did not have a fantastic price, even 1 bitcoin was only equivalent to two slices of pizza, but now the price of bitcoin has soared, and many investors have turned to bitcoin, in my personal opinion maybe because of that factor the price of bitcoin is very important.

[Rigon]

Knowing the value of Bitcoin is an important topic for everyone. Knowing the value of Bitcoin is very important especially for those who invest in short term and long term.The important thing is to know whether the price at which the Bitcoin was invested later remained at that price.Again if you are going to trade on a trading platform then also in that case it is most important to hold the value of Bitcoin.Because trading is done on the value of Bitcoin and profit and loss are held on the value of Bitcoin.That is why it is most important to know the value of Bitcoin.

[EarnOnVictor]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

There are opportunities inside an opportunity, that is what Bitcoin has created. The decentralized mode of payment might be the initial and main goal of Bitcoin but the cryptocurrency has proven itself to be more beneficial to the extent that its first purpose is now a small fraction of the functionality of it.

 We can't blame that on anything, it now depends on individuals and what they intend to do with their Bitcoin among the many ways it could be used (Payment, investment, trading, lending etc.)

[wmaurik]

I think this is just human nature. Why would anyone think of the aim of bitcoin if they are at a loss? Though bitcoin is a long term asset and should be treated as one.

Human nature that only thinks about profit through Bitcoin will indeed ignore the purpose of Bitcoin so it must also be considered as a very natural thing because they only think about profit and have to take care of every asset so as not to lose value. Which means they just want to make a profit through faster sales without thinking about holding back in the long term.

[dlightag]

Bitcoin is the number one coin in the cryptocurrency industries, that is why many people are conscious of bitcoin price, as we all know that bitcoin created as a digital asset, which many people are into the business as buying and selling through means of peer to peer wire money transfer across the region and is faster and smarter with a less charge fees. Having said that, bitcoin have many thing to do with a decentralized finance in ecosystem. 

[coinerer]

Bitcoin is the number one coin in the cryptocurrency industries, that is why many people are conscious of bitcoin price, as we all know that bitcoin created as a digital asset, which many people are into the business as buying and selling through means of peer to peer wire money transfer across the region and is faster and smarter with a less charge fees. Having said that, bitcoin have many thing to do with a decentralized finance in ecosystem. 

Bitcoin now is a trusted and useful digital currency in worldwide and many big companys and billionaire person now invested in bitcoin and they believe bitcoin is a legal currency and Bitcoin is now being used for various transactions all over the world and many are hoarding it as a strong asset. So i think bitcoin price is important

[theCommittalist]

I think this is just human nature. Why would anyone think of the aim of bitcoin if they are at a loss? Though bitcoin is a long term asset and should be treated as one.

Human nature that only thinks about profit through Bitcoin will indeed ignore the purpose of Bitcoin so it must also be considered as a very natural thing because they only think about profit and have to take care of every asset so as not to lose value. Which means they just want to make a profit through faster sales without thinking about holding back in the long term.

We want as many private individuals around the world as possible to be holding some coin so the whales from WS can't buy it all up to suffocate its practical use which is of course as a form of currency. In the short term I can imagine how those guys see that as a smart move to protect their assets which are bound up in USD.

[Rana590]

Bitcoin is the number one coin in the cryptocurrency industries, that is why many people are conscious of bitcoin price, as we all know that bitcoin created as a digital asset, which many people are into the business as buying and selling through means of peer to peer wire money transfer across the region and is faster and smarter with a less charge fees. Having said that, bitcoin have many thing to do with a decentralized finance in ecosystem. 

Bitcoin now is a trusted and useful digital currency in worldwide and many big companys and billionaire person now invested in bitcoin and they believe bitcoin is a legal currency and Bitcoin is now being used for various transactions all over the world and many are hoarding it as a strong asset. So i think bitcoin price is important

In this digital world, people are looking for digital payment gateway and for it, Bitcoin is the best choice because it is safe, secure, fast and decentralized. People can use it because it is not complex and it can help in different way. People are holding it for future and many people are using it as investment.

[Ebede]

The price of Bitcoin is very very important so I believe that if you don't have the value of bitcoin at home you will not try to invest into cryptocurrency so investing in cryptocurrency the most people to know the actual price to start within  it. The price of Bitcoin push people to buy cryptocurrency that is why most at times many people buy cryptocurrency when the prices is up