why is bitcoin price important?

[Jemzx00]

Price is important, because there are people who see bitcoin as a tool to protect their money against inflation or any other kind of centralized parties' interventions. If bitcoin didn't have a decent value and growing potential on long run, people wouldn't feel incentivized to hold it and worse, they would fear using it, since the uncertainity of losing their money's value on the next second they acquired BTC would be huge.

Moreover, with a priceless bitcoin, what could be the reason for miners to keep running their operations, and consequently maintaining the network smooth and functional?

Price is important, profit is important. That is what moves a healthy capitalist society, since it's disponible and accessible for everyone.

In order to be more precise, we look at it as a means of generating profits, so its price will always take priority as the first factor to consider. I am sure that people will no longer be interested in bitcoin if it becomes stable and non-volatile.

It doesn't matter what the original purpose of bitcoin is anymore, as long as bitcoin is helping people and really useful to the world, is a profitable investment channel or a payment method...it's all just human behavior, bitcoin is still bitcoin.

It actually depends on how an individual perceive what Bitcoin's purpose is. It's price might be important as it is a means of generating profit especially for those who defines bitcoin as an investment however for others it might be safe haven to avoid centralised parties intervention on their funds.

Also, I doubt that people will no longer be interested in case bitcoin will be stable and non-volatile since there are people who longed for bitcoin to be stable as it is a currency for them. Probably there will be people who will not be interested but there are others who will be interested when that time comes.

[sensimilia]

During the initial days people started using it for some purpose. Most of them say it is for gambling and darknet needs. By that time the real users well understood about the technology and the good about it. Later the usage started to increase as a result of its increase in price. If bitcoin haven't gained good price in the market, surely this couldn't have reached the present level of growth through the people understanding the goodness of its underlying technology.

Bitcoin was originally developed as a P2P payment system. Due to the development of current technology, its use has greatly increased, which has led to an increase in its price, with the increase in price, people are considering it as a resource. So people from different professions are investing in it. Regardless of the price of Bitcoin I think the original purpose of its creation has been successful.

[virasisog]

During the initial days people started using it for some purpose. Most of them say it is for gambling and darknet needs. By that time the real users well understood about the technology and the good about it. Later the usage started to increase as a result of its increase in price. If bitcoin haven't gained a good price in the market, surely this couldn't have reached the present level of growth through the people understanding the goodness of its underlying technology.

Bitcoin was originally developed as a P2P payment system. Due to the development of current technology, its use has greatly increased, which has led to an increase in its price, with the price increase, people are considering it as a resource. So people from different professions are investing in it. Regardless of the price of Bitcoin, I think the original purpose of its creation has been successful.

Bitcoin as a mode of transaction and as a currency has provided a real convenience for its users. However, since most investors took a profit from it, expect that they will always check its price. They will always aim to make a profit from it because it became the most profitable investment of all time. Bitcoin is continuously developing and emerging as a multifunctional currency so people will always look at its value.

[amishmanish]

people don't value anything which has no price. Satoshi designed bitcoin as a reward for investing energy and computational power in solving Bitcoin blockchain algorithms. This is called the proof of work. As the value of bitcoin increased more and more people joined in the Bitcoin blockchain, creating world's most successful blockchain ecosystem. Thus there is a lot at stake with bitcoin. SO its value naturally becomes important for many like us. 

[noormcs5]

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.

The price of bitcoin is directly linked to its popularity and demand. When the bitcoin price is high, it means that people are interested in bitcoin and hence it is in demand. Also since bitcoin captures 60% of the total market cap, a dump in the bitcoin causes the whole crypto market including altcoins a decline.
Although we all know that bitcoin prices will recover sooner, but no one is happy seeing bitcoin in a bear market.

[tygeade]

I think a lot of people are not telling the truth when it comes to technology and blockchain. Especially because not only bitcoin has a blockchain, but other coins too. It's just that it was created first. Absolutely everyone is only interested in the value of bitcoin, only a few people need the technology, and a little more people use the technology in their daily lives.

I agree that it's definitely not something people use daily. 90% of the people in the crypto world end up using crypto because they want to make a profit, and that's the risk of bitcoin but at the same time it works very well for them too.

What I do not truly understand is the fact that bitcoin could be used for so many other things, and that's like just 10% of it. Worldwide money transfer is still better in bitcoin than anywhere else. Sure you spend a few dollars and some time to get it, so it's not good for payment right there to buy a coffee, but it's still great idea that you would end up with something very profitable when you are sending from one nation to another.

[ingiltere]

alot of posts seem to be focused on the price of bitcoin.
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.

This is true when you use Bitcoin as a means of payment. But when you see it as an investment tool, of course, price becomes important. The fact that Bitcoin is 1 dollar or 100 thousand dollars doesn't affect peer-to-peer decentralized transactions, but if you bought Bitcoin as an investment, the price you get and the current price are of course important.
A high price indicates that it's used by larger masses and that demand is increasing. After all, there is a limited amount of Bitcoin. Low price also affects market dominance. If Bitcoin is the leading cryptocurrency, its price and marketcap should be higher than the others.

[larry_vw_1955]

Bitcoin price is important because it is for business purpose. And also people have bought enough BTC and store or keep it in their Wallet to be sold to make profit. And also it is very much important for buyers and sellers. Buyers to buy it in a cheaper rate while sellers to sell it in a higher rate. So in all period of price of bitcoin is very much important. At all time, it is important to someone because if it is not favouring one person it favours another person.

I understand alot of people treats bitcoin like a stock. you try and buy low and sell high. maybe even daytrade it. but the stockmarket is regulated. if bitcoin is going to be treated like a common stock then they need to put it on a stock exchange so it can be regulated too right? or is that the wrong way of thinking? regulation means the government has laws about how it can operate and things like that. can stop trading in it in times of high volatility. etc.

[GeorgeJohn]

Bitcoin price is the bond that holds cryptocurrency and everyone want to see the price to be accelerating, so i believe that Bitcoin price is very important to any hold and any investor, because the price determine the gain and lost which is involved for the industry, i believe that Bitcoin price is the primary obligation of any investor if I'm not mistaken from my perspective.

[darkangel11]

Bitcoin price is the bond that holds cryptocurrency and everyone want to see the price to be accelerating, so i believe that Bitcoin price is very important to any hold and any investor, because the price determine the gain and lost which is involved for the industry, i believe that Bitcoin price is the primary obligation of any investor if I'm not mistaken from my perspective.

Holds it where? Altcoins are surely link to the price of bitcoin but they aren't going to disappear if that correlation gets broken or the price changes. Most of these altcoins did not exist 5 years ago and it didn't change anything for bitcoin.

For most people price is simply an indicator of growth. They want bitcoin to become more popular and get more adoption and if that happens the price will go up. You don't have to read every piece of news to know if we are doing ok. It's enough to check the price from time to time.

[Rufsilf]

Why? 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.

In general: The main currency in the cryptocurrency markets is Bitcoin (fiat currency, ethereum, and tether are also used, but Bitcoin is the primary currency). Given this, alts tend to fund Bitcoin runs and Bitcoin tends to fund alt runs. Given this relationship, Bitcoin price movements (or lack thereof) tend to effect altcoin prices.

https://cryptocurrencyfacts.com/2017/12/15/the-relationship-between-altcoins-and-bitcoin-simple/

[Vaskiy]

Anything without value doesn't have demand. This is the universal fact. With cryptocurrency there is big technology that is backing the entire network. If a survey is taken on this, we'll come to know that not even 10% know about the technology. Everyone are here looking upon the price it has reached in the short time period.

Users at the beginning days doesn't think much about the market, but then they wanted the market to be bullish forever. Now, users have understood this is part of the market. In such a way slowly they'll understand the real value than the price.

[shynar_data40]

The value of cryptocurrency in the eyes of investors is ensured, among other things, by its long history. Bitcoin has been around for more than twelve years, and in all that time, it has not given any reason to doubt itself. This means that cryptocurrency buyers, among other things, see in it a mechanism that will not fail and will perform its own functions.

Now BTC is mostly perceived as a means to preserve capital, largely due to the constant long-term growth of the coin's price. In addition, due to the new crisis caused by the spread of COVID-19, Bitcoin is also seen as a profitable means of protecting against inflation.

[Mr.sprin]

Bitcoin is one of the digital currencies that is very suitable for investment because it is expensive and potentially in the future if bitcoin does not have a high exchange rate, of course bitcoin is not worth investing in, therefore the price of bitcoin is very important for bitcoin holders so don't be careless releasing bitcoins.

[BobK71]

Bitcoin price is the bond that holds cryptocurrency and everyone want to see the price to be accelerating, so i believe that Bitcoin price is very important to any hold and any investor, because the price determine the gain and lost which is involved for the industry, i believe that Bitcoin price is the primary obligation of any investor if I'm not mistaken from my perspective.

In this modern age everyone knows about Bitcoin. It is a matter of fact that many people today don't want to bring up the fact that why basically bitcoin is intended. Many investors recognize regardless of its internal use, they want to get their interest from here by trading or holding. They know Bitcoin coin is valuable and will increase in value in the future. Most investors evaluate it only from the trading side. When the price of Bitcoin fall down in the bearish market, all those investors suffer from anxiety. If everyone bought Bitcoin for its main purpose then Bitcoin would have reached a stable level.

[tygeade]

Anything without value doesn't have demand. This is the universal fact. With cryptocurrency there is big technology that is backing the entire network. If a survey is taken on this, we'll come to know that not even 10% know about the technology. Everyone are here looking upon the price it has reached in the short time period.

Users at the beginning days doesn't think much about the market, but then they wanted the market to be bullish forever. Now, users have understood this is part of the market. In such a way slowly they'll understand the real value than the price.

Value and price are different things. Bitcoin if you ask me is undervalued right now, but the price is around 20k, I believe it should be at least 50k probably 100k. The value of it is how you use it, like why is it valuable to you? That's the question.

And for the bitcoin case, from global payment ease, to investment, to secure of value and many other things, bitcoin has an amazing value that nothing else could do all together all at the same time. This is why it should be a lot more valuable than right now but people keep forgetting that. This is also why I am investing into it right now as well, I feel like it's the normal thing to do right now.

[Furious 7]

During the initial days people started using it for some purpose. Most of them say it is for gambling and darknet needs. By that time the real users well understood about the technology and the good about it. Later the usage started to increase as a result of its increase in price. If bitcoin haven't gained good price in the market, surely this couldn't have reached the present level of growth through the people understanding the goodness of its underlying technology.

Bitcoin was originally developed as a P2P payment system. Due to the development of current technology, its use has greatly increased, which has led to an increase in its price, with the increase in price, people are considering it as a resource. So people from different professions are investing in it. Regardless of the price of Bitcoin I think the original purpose of its creation has been successful.

Actually, with the increase in prices, it is not wrong if many people are here to take advantage because regardless of what bitcoin is, there are indeed many issues or negative things, but when talking about prices they are always being hunted.
Price is something that I think is valuable and most talked about right now for bitcoin after its success in achieving bitcoin's desired goals.

[harapan]

Do you really need to focus on the god damn price, see I must tell you if you focus on daily saving and investment of small amounts of cash into bitcoin then you will see the price increament if you can have some level of endurance as you do. If you save up $10 every week then you have an edge over those that doesn't have a dine with Bitcoin. Price are also good in the bear market to see it's value.

[BITCOIN4X]

Do you really need to focus on the god damn price, see I must tell you if you focus on daily saving and investment of small amounts of cash into bitcoin then you will see the price increament if you can have some level of endurance as you do. If you save up $10 every week then you have an edge over those that doesn't have a dine with Bitcoin. Price are also good in the bear market to see it's value.

Price is something that matters because bitcoin has supply and demand. It is a tradable asset although there are many other uses for bitcoin. People will not ignore prices especially because they are traders or investors.

You shouldn't focus on price if you are a long term bitcoin holder and accumulate it frequently. Of course that's a good thing for your type of person, but perhaps traders will tend to focus more on price.

[wmaurik]

Price is something that matters because bitcoin has supply and demand. It is a tradable asset although there are many other uses for bitcoin. People will not ignore prices especially because they are traders or investors.

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.

You shouldn't focus on price if you are a long term bitcoin holder and accumulate it frequently. Of course that's a good thing for your type of person, but perhaps traders will tend to focus more on price.

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.