why is bitcoin price important?

[TheUltraElite]

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.

One can argue that bitcoin was never meant to be traded to begin with - the fact that most countries do not allow bitcoin to be used without restrictions is why the owners of bitcoin moved to other means to using their assets, namely trading and gambling.

Price of 1BTC is always 1BTC, the fiat price is only a representation of the current trades going on and their output result on the price. So keeping a tab on lower price to buy is natural for traders. For them the fiat price is important, still the actual price of a bitcoin, like I said, is fixed.

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.

We have not reached that extent that every shop carries a bitcoin POS machine, it will take time to reach that level. But saying that it is not complex, is not justified. For a new entrant, bitcoin is way complex to secure and to understand how to use.

[minairia3]

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

The fact that we, as well as the companies and billionaires who invest in bitcoin, expect its price to rise, should be seen as a primary concern. Bitcoin will never be noticed if its value is low or worthless. It's true.

A lot of people heard and knew about bitcoin when its price was very cheap and most of them didn't care about it until its price started going up. Bitcoin interest will only grow once the bitcoin price rises again.

[ChiBitCTy]

Price to me is mainly important as it’s an indicator of the health of the coin overall. Not just health but it’s an indicator of adoption.  The more people that adopt bitcoin, the more it’s price will rise with it.  So they go hand in hand. Otherwise to me bitcoin is far less of an investment as it is a financial breakthrough tool/instrument.

[harapan]

The price of bitcoin is just as important as the price of any given commodity out there. The price of bitcoin or any commodity is there to show it’s value. Plainly put, you can say the price of bitcoin is important as it shows the value of the commodity. And with the price either increasing or decreasing, the value also increases or decreases as the case may be.
Price are determined by the forces of demand and supply and hence, the more adoption of bitcoin by individuals and corporations alike, the more likely the price of bitcoin would climb higher.

[wmaurik]

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.

That's great, but until now there are still many individuals around the world who still don't like holding more coins and should also start buying the best coins like Bitcoin. Because there are still many people who need to understand that Bitcoin is the best and they also have to understand that the whales are still after the best coins at low prices to buy and hold before they are converted into USD.

[Jo_Liu]

First, let's say what determines Bitcoin's price? Unlike other "money",Bitcoin is not issued by a central bank or backed by a government; therefore, the monetary policy tools, inflation rates, and economic growth measurements that typically influence the value of a currency do not apply to Bitcoin. Bitcoin acts as more of a commodity being used to store value, so the following factors influence its price:

The supply of Bitcoin and the market’s demand for it;
The cost of producing a bitcoin through the mining process;
The number of competing cryptocurrencies;
Regulations governing its sale and use;
Media and news;

[Alfredo_jsc]

Bitcoin demonstrates some attributes for currency, but it's main source of value lie's in it's restricted supply and increasing demand,as we've seen, demand is the main reason driving the price of bitcoin.as long as there is growing demand the price of Bitcoin will increase. Demand is driven by other causes such as inflation and crypto adoptio[Suspicious link removed]ice is primarily affected by it's supply, the market's demand for it availability, competing cryptocurrencies, and investor sentiment.

[Kelvinid]

Price to me is mainly important as it’s an indicator of the health of the coin overall. Not just health but it’s an indicator of adoption.  The more people that adopt bitcoin, the more it’s price will rise with it.  So they go hand in hand. Otherwise to me bitcoin is far less of an investment as it is a financial breakthrough tool/instrument.

Even in the other side of crypto, the price is the common basis to see if the project is growing or not. Nobody would invest in Bitcoin if they saw the price continue to dump and no chance to rise, I don't someone will take the risk. As we make business in crypto and do invest, checking the price really matters a lot. Perhaps, we have this idea of "buy low and sell high" which means we earn profit from the moving price of the market.

[Luzin]

Even in the other side of crypto, the price is the common basis to see if the project is growing or not. Nobody would invest in Bitcoin if they saw the price continue to dump and no chance to rise, I don't someone will take the risk. As we make business in crypto and do invest, checking the price really matters a lot. Perhaps, we have this idea of "buy low and sell high" which means we earn profit from the moving price of the market.

Yes if bitcoin is stable maybe it will be boring. It seems that it is what makes the newcomers interested. They take advantage of it to make a profit. In addition Bitcoin is the mother of crypto. Bitcoin will have an effect on other cryptos. It's been proven and I've gone through two halvings. Bitcoin price movements have an impact on the price movements of other altcoins. Indeed, several times this patern changed but not too much.

[theCommittalist]

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.

That's great, but until now there are still many individuals around the world who still don't like holding more coins and should also start buying the best coins like Bitcoin. Because there are still many people who need to understand that Bitcoin is the best and they also have to understand that the whales are still after the best coins at low prices to buy and hold before they are converted into USD.

With the name of this website plus that of this thread I thought we could assume that 'coin' meant Bitcoin. Maybe I was wrong.

I stop short of calling myself a maximalist but I only take Bitcoin seriously for the foreseeable future as a trading asset due to its functionality as working currency in the big wide world.

Like I said I am not quite a maximalist, but, fuck normies and fuck shitcoins

[theCommittalist]

Bitcoin demonstrates some attributes for currency, but it's main source of value lie's in it's restricted supply and increasing demand,as we've seen, demand is the main reason driving the price of bitcoin.as long as there is growing demand the price of Bitcoin will increase. Demand is driven by other causes such as inflation and crypto adoptio[Suspicious link removed]ice is primarily affected by it's supply, the market's demand for it availability, competing cryptocurrencies, and investor sentiment.

You are failing to understand that people do not want anything that is useless, no matter how limited the supply of it is.

Bitcoin actually works as a currency all over the world every day. People use it for trading with one another, & that is why it is in demand. We are talking money here & money is for exchanging things of value. Part of the value of goods & resources, products & services is in their scarcity, their limited supply, so that aspect of Bitcoin also helps to keep it realistically involved with a working economy.

[dataispower]

If you look at the situation of cryptocurrency you understand that cryptocurrency on it own have a preferential value which when the value drop the market of cryptocurrency will be disvalue. I believe that cryptocurrency can never depart from securing its value because it is very very important but without positive information of Bitcoin rising many people who is investor will not value cryptocurrency to the extent of putting more money into the investment. The value of future policy is very important to every average investor because the value being the prize is what attracts any investor to invest more into cryptocurrency general.

[Baron Amelia]

This is what makes Bitcoin different. How much of it was written into Bitcoin's code will live forever. We can determine how many people there are now and how many people will be in the future. This makes Bitcoin the only asset on the planet whose supply we can prove is limited and fixed

[JayTrain]

Because many altcoins and, in principle, the entire cryptocurrency market is tied to bitcoin, almost all trading pairs on leading exchanges with btc, which is why I think the price of bitcoin is so important, and a strong opinion of the market direction vector for bitcoin has already been formed.

[bestcoins1]

Because many altcoins and, in principle, the entire cryptocurrency market is tied to bitcoin, almost all trading pairs on leading exchanges with btc, which is why I think the price of bitcoin is so important, and a strong opinion of the market direction vector for bitcoin has already been formed.

That is one of them, because Bitcoin can still have more influence in the market than many altcoins. So clearly the value and price of Bitcoin is very important to continue to exist in the market. In addition, Bitcoin has also become the first famous coin in the cryptocurrency space and makes it very valuable until now. So obviously the Bitcoin price is a very important thing to look at.

[Tony116]

Because many altcoins and, in principle, the entire cryptocurrency market is tied to bitcoin, almost all trading pairs on leading exchanges with btc, which is why I think the price of bitcoin is so important, and a strong opinion of the market direction vector for bitcoin has already been formed.

That is one of them, because Bitcoin can still have more influence in the market than many altcoins. So clearly the value and price of Bitcoin is very important to continue to exist in the market. In addition, Bitcoin has also become the first famous coin in the cryptocurrency space and makes it very valuable until now. So obviously the Bitcoin price is a very important thing to look at.

There is a simple reason for this, as we invest in bitcoins and other cryptocurrencies for profit, so high demand will lead to a rise in bitcoin's price. Bitcoin is well known in recent years for its high volatility. The higher the price, the more people notice, leading to an increase in demand. When demand is high, price will be a top concern. Nowadays, everyone in the market is only looking at the bitcoin price, no one cares what the technology of bitcoin is.

[yazher]

That is one of them, because Bitcoin can still have more influence in the market than many altcoins. So clearly the value and price of Bitcoin is very important to continue to exist in the market. In addition, Bitcoin has also become the first famous coin in the cryptocurrency space and makes it very valuable until now. So obviously the Bitcoin price is a very important thing to look at.

You can really tell when bitcoins increase their price when you see the market all green at some point, you can make sure something positive has happened to bitcoins no doubt about it. That's how important the bitcoins price is, that's why crypto people really work with one another to promote the use of it as a means of payments and other necessary use of it. Because when bitcoins are successfully implemented in some countries and they successfully use them as their means of payment, the price will quickly get increase and so as most of the altcoins.

[Pmalek]

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.

It was designed to be a P2P payment method and it's also used as a store of value. But the future price is an essential element of it all. If the price of bitcoin depreciates month after month/year after year, it's not a good store of value. If it's supposed to make international payments faster and cheaper, its users don't like to see a drastic downtrend. What good does it do if it makes international payments easier if my $1000 in BTC sent on Monday is only worth $800 on Thursday?   

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.

The network works the same way today as it did when BTC was trading at $69.000, and it's going to work the same way if we fall down to $10.000 as well. You are right about that. But you can bet your ass that people will complain if the value crashes to $1. Look at it from your own perspective, would you rather open your wallet and see a 5 or 6 digit value in USD or a 2 digit one? Before you say it doesn't matter because 1 BTC = 1 BTC, it isn't really. The buying power of 1 BTC at $24k is significantly different from the one at $1.

[Ziskinberg]

If you look at the situation of cryptocurrency you understand that cryptocurrency on it own have a preferential value which when the value drop the market of cryptocurrency will be disvalue. I believe that cryptocurrency can never depart from securing its value because it is very very important but without positive information of Bitcoin rising many people who is investor will not value cryptocurrency to the extent of putting more money into the investment. The value of future policy is very important to every average investor because the value being the prize is what attracts any investor to invest more into cryptocurrency general.

And people had come and invested in Bitcoin because of its promising returns based on the price growth. And they are right, I was nobody would care about Bitcoin if they know they can't make money from it but just ignored it. Considering the continuous price increase of Bitcoin, more and more new investors gather in the crypto market in preparations for the next ATH. I'd say that missing this time is a big regret as we can see this back again many years from now ( or may not).

[danadc]

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.

The price that bitcoin has in these parts is significant, it wants and gives a lot of information to people who don't know anything or who don't know bitcoin, a person who doesn't know bitcoin is because they don't like money or it's something simple, no read news, a person who is wealthy can afford to buy bitcoin right now and be so lucky that in a short time they will have double or triple it depending on their investment, I think this is still not understood by people or most people who only think about saving in a bank.