why is bitcoin price important?

[franky1]

i personally have bought/acquired bitcoin at different amounts over the last 10 years

$6
$450
$5.6k
$4.3k
$30k
$17.9k

and happy with all my buys
obviously the first one is obvious

the $450 was in the stagnant period of 2013-2016 and have been happy with results
the $5.6 was after the $20k ATH as was the $4.3 shortly after

the $30k and the $17.9k were this year

i am happy with all the purchase prices as they were all cheaper than my local mining cost should i have mined at those times

[larry_vw_1955]

i personally have bought/acquired bitcoin at different amounts over the last 10 years

$6
$450
$5.6k
$4.3k
$30k
$17.9k

and happy with all my buys
obviously the first one is obvious

the $450 was in the stagnant period of 2013-2016 and have been happy with results
the $5.6 was after the $20k ATH as was the $4.3 shortly after

the $30k and the $17.9k were this year

i am happy with all the purchase prices as they were all cheaper than my local mining cost should i have mined at those times

people don't talk about the times they buy it at or near the ATH. you never see anyone on the forums talking about that so much! but there has to be some people who bought it like that and just watched it slip down into the 20s. over the last year or so. but if i was stuck in the red with some cryptocurrency, would much rather it be bitcoin than something else.

[Zilon]

Bitcoin now serves a dual purpose. It can be a store of value for one fellow and a medium of exchange for another and which ever purpose it serves as long as the peer in the network have total control of their funds they are still in the line with the original idea. The goal is to give every Bitcoin holder full custody of their funds without a third party interference.

[theCommittalist]

Bitcoin now serves a dual purpose. It can be a store of value for one fellow and a medium of exchange for another and which ever purpose it serves as long as the peer in the network have total control of their funds they are still in the line with the original idea. The goal is to give every Bitcoin holder full custody of their funds without a third party interference.

We have to be careful not to go from the frying pan into the fire though. It is more important that everyone on earth get a working currency than all nations having an alternative sort of fiat to exchange into to preserve their wealth against economic instability, which is pretty much just more of the same, & would go against the noblest sentiments attached to the BTC.

The main source of value for Bitcoin is in use as internet currency. It exposes the predatory & amoral nature of people describing themselves as the state or the government, as though they are responsible for creating the universe & mapping the human mind. Take it back y'all!

[JohnBitCo]

It is important that the bitcoin price rises most of the time. At the time when bitcoin was over  50,000$, everyone  was talking about bitcoin and bitcoin was trending everywhere however when bitcoin prices dump or in a bear market, no one talks about bitcoin, and the interest in bitcoin among people remains intact.

[kasunrandil]

most  probably price seekers of bitcoin are short term investors or  day traders . investors , legendery bitcoiners  and long term holders who understood bitcoin check the price of bitcoin once in a blue moon. no need to panic if you understand whats going on there. i am not willing to sell btc for 10% of profit and to be a day trader and short term investor.

[wmaurik]

most  probably price seekers of bitcoin are short term investors or  day traders . investors , legendery bitcoiners  and long term holders who understood bitcoin check the price of bitcoin once in a blue moon. no need to panic if you understand whats going on there. i am not willing to sell btc for 10% of profit and to be a day trader and short term investor.

I'm just the opposite where I always want to see the price of Bitcoin on any exchange every day even though I also like investing in the long term. But I wouldn't even be at peace if I didn't get to see the price of Bitcoin in one 24-hour period. Because I always have the feeling to buy when the Bitcoin price keeps getting cheap and also still very happy to hold it when the Bitcoin price is still not high in the market.

[CryptoHeadlineNews]

its a human nature that we are curious to that thing who is not accessible for us. Like Gold, we respect him and see him in far away eyes. If BTC is approachable to everyone then is value is nothing as like as air, oxygen etc.

I totally agree with what you just said, because Bitcoin has value today because everyone can not afford it, because if everyone could afford it, it wouldn't have been valuable as it is today, just like Gold, and for the fact that it's digital, it makes it more easily accessible than gold nor silver. But actually the value of bitcoin came from increase in demand since it is a scarce quantity unlike gold with a limited supply of 21million, of which we are over 8billion people in this world. So in other for 21milliin Bitcoin to go round approximately 4billion persons, it price has to go up so that people could get a least fraction of it

[blockman]

most  probably price seekers of bitcoin are short term investors or  day traders . investors , legendery bitcoiners  and long term holders who understood bitcoin check the price of bitcoin once in a blue moon.

Just say that everyone is seeking a good price of bitcoin.

no need to panic if you understand whats going on there. investor.

Those who panic are the ones who missed their agendas and plans like buying at the dip or selling at the top.

i am not willing to sell btc for 10% of profit and to be a day trader and short term investor.

Well, that's you and we all aim for a better profit and that's why we're thinking that we only sell if it's truly profitable and more than the amount that we've bought it.

[BobK71]

It is important that the bitcoin price rises most of the time. At the time when bitcoin was over  50,000$, everyone  was talking about bitcoin and bitcoin was trending everywhere however when bitcoin prices dump or in a bear market, no one talks about bitcoin, and the interest in bitcoin among people remains intact.

It depends on the bitcoin owner why he bought the bitcoin?. He may use Bitcoin as a payment method or use it as an investment. Bitcoins are used based on each individual's work. But price always play an important role as it is directly related to the asset or trading business.

[piebeyb]

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.

sometimes it's true what you say, people are too concerned with the price of bitcoin and don't discuss how to use it and others maybe that's what you mean, I agree in your thoughts and also your question because I'm also on this forum sometimes only discussing bitcoin prices in threads me, you made me realize I should have made more important posts about bitcoin than discussing prices

[dark1234]

The Bitcoin price is very important because without the tries being positive nobody will like to invest in Bitcoin the positivity of the currency is what bring people into the market so the price of Bitcoin is very important to create a currency and when the price begin to rise order currencies like altcoins have another shape of development

actually I myself assume, everyone chases and collects bitcoin because the price is for no other reason and doesn't think about its benefits and uses, and bitcoin is very important to them because it becomes a reference for the market price of all altcoins and others and this is real at this time, by that's why only a few people spend bitcoin as a transaction tool

[larry_vw_1955]

sometimes it's true what you say, people are too concerned with the price of bitcoin and don't discuss how to use it and others maybe that's what you mean, I agree in your thoughts and also your question because I'm also on this forum sometimes only discussing bitcoin prices in threads me, you made me realize I should have made more important posts about bitcoin than discussing prices

The annual inflation rate in the US slowed more than expected to 8.5% in July of 2022 from an over 40-year high of 9.1% hit in June...


so if someone in the usa is holding bitcoin as an investment then their opportunity cost is about 8.5% they need bitcoin to be going up by that much annually just to break even. 8.5% is not huge but it's still something to keep in mind that there is a hurdle to overcome just to break even.

[MarjorieZimmermanGinger]

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?

Bitcoin has a purpose, so people dare to take action to start investing, financial freedom in managing finances may be one of the many reasons bitcoin is important, people will like it when he starts to know and learn about profits, because bitcoin is open and no one can control it.

seems they got the wrong idea of bitcoin.

Bitcoin will be considered important if people have entered into investment, but for people who are not involved in this case, then bitcoin will be considered an ordinary thing that does not need to be discussed, the concept is simple, when someone starts talking, it is a sign that bitcoin is in demand, or talking about the success of bitcoin from its inception until now, then what impact did people receive?

Bitcoin is simple
Bitcoin is important
Bitcoin is not important

[boris singer]

The Bitcoin price is very important because without the tries being positive nobody will like to invest in Bitcoin the positivity of the currency is what bring people into the market so the price of Bitcoin is very important to create a currency and when the price begin to rise order currencies like altcoins have another shape of development

actually I myself assume, everyone chases and collects bitcoin because the price is for no other reason and doesn't think about its benefits and uses, and bitcoin is very important to them because it becomes a reference for the market price of all altcoins and others and this is real at this time, by that's why only a few people spend bitcoin as a transaction tool

Apart from that, sometimes in this case the main goal is that and indeed almost everyone is in this case because indeed the goal is profit and indeed this is something that I think is quite understandable although there are indeed several other goals and we may be right now already feel like people are buying things using bitcoins or anything else but still the fact of being in bitcoins just for profit is paramount.

[wmaurik]

Bitcoin will be considered important if people have entered into investment, but for people who are not involved in this case, then bitcoin will be considered an ordinary thing that does not need to be discussed, the concept is simple, when someone starts talking, it is a sign that bitcoin is in demand, or talking about the success of bitcoin from its inception until now, then what impact did people receive?

Bitcoin is simple
Bitcoin is important
Bitcoin is not important

I see what is more difficult to convince are those who are still very new to Bitcoin and have heard bad things from people who don't like Bitcoin at all so that people try to lead ordinary people to dislike Bitcoin. Bitcoin becomes simple to understand if someone has read all about Bitcoin then that person will consider Bitcoin an important asset to have not an insignificant one because it is only thought of by those who don't like Bitcoin in general.

[budi691]

what happens if the price of Bitcoin is low maybe not many people have and save it for investment, but because the price of Bitcoin is high then everyone is competing to have it, but not only that, for example trading it will be very important to know the price of Bitcoin if you want to make a profit

[MarjorieZimmermanGinger]

Bitcoin will be considered important if people have entered into investment, but for people who are not involved in this case, then bitcoin will be considered an ordinary thing that does not need to be discussed, the concept is simple, when someone starts talking, it is a sign that bitcoin is in demand, or talking about the success of bitcoin from its inception until now, then what impact did people receive?

Bitcoin is simple
Bitcoin is important
Bitcoin is not important

I see what is more difficult to convince are those who are still very new to Bitcoin and have heard bad things from people who don't like Bitcoin at all so that people try to lead ordinary people to dislike Bitcoin. Bitcoin becomes simple to understand if someone has read all about Bitcoin then that person will consider Bitcoin an important asset to have not an insignificant one because it is only thought of by those who don't like Bitcoin in general.

Many similar cases actually occur because they are in the environment of people who reject bitcoin and not a few people who are in the environment who accept, basically bitcoin is not considered important, because they are not directly involved.

But the development of the times that make it easier for people to find information, there is also an understanding like this, one thing that makes me understand, direct involvement and being in an accepting environment is the final decision of such people.

[Xampeuu]

what happens if the price of Bitcoin is low maybe not many people have and save it for investment, but because the price of Bitcoin is high then everyone is competing to have it, but not only that, for example trading it will be very important to know the price of Bitcoin if you want to make a profit

this relates to the psychology of traders and investors who will buy. when the price of bitcoin rallies, more and more people will buy it, because many of us think of getting money in a short and easy time. therefore many people are greedy and eventually regret it. many people are waiting for the price to buy, where they are looking for a support area to be more effective and get the best price, hopefully

[Esther C]

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.

If I’m correct, I reckon this question has been addressed before. Bitcoin is currently the largest crypto in the market, so it’s only natural that Bitcoin directly or indirectly impacts the other cryptocurrencies. The price of Bitcoin determines the wave of the market at given points. The rise of Bitcoin could be an indication of a good market and vice versa.