why is bitcoin price important?

[Wildwest]

For those of us who invest of course, the price of bitcoin is very important to get profits when we are already in a long-term investment, and some countries and certain places have made bitcoin as a currency for making transactions, the most important thing is that the price of bitcoin can always be at a value that is indeed feasible in making transactions, if the value is low then those of us who have many assets are of course always worried about spending something with bitcoin.

[ModestyKK]

As a currency, the price must be the first thing people pay attention to, and people will have considerable profits, but most people who invest in Bitcoin should understand the characteristics and practicality of Bitcoin.

[larry_vw_1955]

all the random reasoning of sentiment and speculation in between of the speculative market .. just becomes social dramas of guessing games

inflation is not a guessing game. you see it in everyday prices of items. anything that causes inflation of the us dollar is going to result in bitcoin having a higher us dollar price. that doesn't mean bitcoin all the sudden became more valuable though. what it means in this particular case is the us dollar became more worthless so in order to maintain its current value, bitcoin us dollar price has to go up.

so here it is:
with each major price discovery event follows a year later by a ATH
price discover events     year later
2010-first exchange   :  ATH 2011
2012-halving event   :  ATH 2013
2016-halving event   :  ATH 2017
2020-halving event   :  ATH 2021

I expect that trend to be broken in the 2024 halving for sure.

[Nuraiuii]

Bitcoin price is important to crypto investors, and price will be their priority. Earn higher profits by investing in bitcoins, buy bitcoins when they are cheap and sell them at a higher price. As the demand for Bitcoin increases, it becomes more valuable.

[HELENA22]

We're waiting for the 4 horsemen of the apocalypse to arrive

must be waiting for something. at this rate, bitcoin might need to get to $250k or $1mil just to keep up with the joneses.

Time is the best way, time will not wait for you, will you wait for time? This is difficult for many people.

[Diuyen Kim]

Most people now make profits by investing in Bitcoin. Therefore, the price of Bitcoin is more important. Everyone is more concerned about their assets. People are not yet used to paying with cryptocurrencies, and many places do not support cryptocurrency payments.

[ringgo96]

The price of bitcoin is of course very important for every investor, because the price of bitcoin can affect all other altcoins on the market today, even though we have different goals, the value of bitcoin is at the highest price, of course, something we always hope for, bitcoin is a future investment. in the future so many people hope that the characteristics are at the highest point, then the price of bitcoin is very important especially in some countries it has made a legal instrument of payment so payment is the most important thing.

[Fara Chan]

The price is one of the indicator of bitcoin's success. What you're saying is totally right, bitcoin will be continued to be used even if it was at $1, but if something goes down from $70k to $1 then it also means that somehow it has failed. There will be people who will keep using bitcoin but forget mass adoption at that point.

Then of course are also people who took the risk to buy bitcoin I can totally understand if they want to get some profit, nothing wrong with that.

Yes of course, we believe in Bitcoin, even though it has low Value like you said people will still use it. The price of Bitcoin is showing market conditions and the main key in Cryptocurrency (this is my opinion), isn't Altcoin following the movement of Bitcoin and from here it is clear that the price of Bitcoin is the most important thing in the course of Cryptocurrency.

Apart from that, the price of Bitcoin is of course very important for investors, as well as in terms of long-term investment profits, and several countries use Bitcoin as a currency for transactions, and as a currency, of course, price is the most important thing to pay attention to. The price of Bitcoin is a top priority, and this includes everything in Cryptocurrency.

[Zilon]

Bitcoin is an asset as well as a currency, it is up to the hodler to decide how they chose to handle theirs. The initial idea was a p2p network but with unstable demand and supply alongside the long-standing halving price will remain a big concern because everyone will choose how they treat their coin differently. Some might just spend it as a currency while many will see it as an investment channel

[Abiky]

The price is one of the indicator of bitcoin's success. What you're saying is totally right, bitcoin will be continued to be used even if it was at $1, but if something goes down from $70k to $1 then it also means that somehow it has failed. There will be people who will keep using bitcoin but forget mass adoption at that point.

Then of course are also people who took the risk to buy bitcoin I can totally understand if they want to get some profit, nothing wrong with that.

That's certainly true, mate. A huge dip in Bitcoin's price would certainly give a bad impression to the public. It would mean Bitcoin has failed as a store of value (even if the blockchain would still be alive and running). I don't think prices will stay low for too long, especially when Bitcoin hasn't reached the mainstream yet. Once the whole world is using Bitcoin, you can bet market prices will go all the way to $1m. That, and also the fact that the Russia-Ukraine war and rising inflation rates need to end for BTC to go all the way to the moon.

I'm pretty sure it will be all over by the next Bitcoin halving in 2024. People won't want to miss the train once BTC skyrockets like crazy. While market prices are important, they're certainly not as important as the health of the blockchain itself. With how far BTC has gone since its inception, I don't think it will die just like that. Who knows if it lives for generations? Just my opinion

[Rahul09]

The price of bitcoin is of course very important for every investor, because the price of bitcoin can affect all other altcoins on the market today, even though we have different goals, the value of bitcoin is at the highest price, of course, something we always hope for, bitcoin is a future investment. in the future so many people hope that the characteristics are at the highest point, then the price of bitcoin is very important especially in some countries it has made a legal instrument of payment so payment is the most important thing.

I myself hope that Bitcoin will reach the highest level in the future. Not only to me, but one day Bitcoin will be legalized in all countries and will become the asset of the future. And the entire market depends on the price of this Bitcoin. Whenever the price of Bitcoin is down all the tokens in the market are down and when the price of Bitcoin is up all the tokens are up in price. And that's why the price of Bitcoin is more important to us.

[solehdavid]

I agree with that but people are using bitcoin in a way that suits their purposes better and you can't say anything about that. some of us see it as a convenience and some of us see it as a way to make money. it has become an industry and some people are making really good money in this industry

[franky1]

all the random reasoning of sentiment and speculation in between of the speculative market .. just becomes social dramas of guessing games

inflation is not a guessing game. you see it in everyday prices of items. anything that causes inflation of the us dollar is going to result in bitcoin having a higher us dollar price. that doesn't mean bitcoin all the sudden became more valuable though. what it means in this particular case is the us dollar became more worthless so in order to maintain its current value, bitcoin us dollar price has to go up.

the funny thing about inflation is.. dollar has always been in an inflation
ever since 2002-2007-2012 you can check the price of most goods of 10-15-20 years compared to now and the average change in price is actually been quite the same. its just a few ear-marked baskets of goods used by CPI were held down to fake a lower rate while real prices of everything else have gone up

i remember 20 years ago the price of UK fuel was 70p/litre now its over £1.40
this means 100% extra in the price of 2002. 100%/20=5%

yes inflation happens but that does not mean that becasue news company finally admits the government finally updated its rates to show a different rate this year .. does not mean this year causes real term need to buy more bitcoin. people have already been hedging fiat for years.

you wanting the price to suddenly jump now this week due to something you read on the news about inflation.. is different to the real shopping habits people see as price changes over the last few years

so here it is:
with each major price discovery event follows a year later by a ATH
price discover events     year later
2010-first exchange   :  ATH 2011
2012-halving event   :  ATH 2013
2016-halving event   :  ATH 2017
2020-halving event   :  ATH 2021

I expect that trend to be broken in the 2024 halving for sure.

the 2011 ATH set the first spike a year after new price discovery event(first exchange)
the 2013 came earlier by a couple months than the prediction of the 2011 would cause
the 2016 came later
the 2020 came with 2 peaks to try emulating the mix of the peaks of the previous cycles

so here is the peaks mapped out in cycles

2010-2012 2012-2016 2016-2020 2020-2022


in short we are correctly in the 'low zone' of each cycle

i would say in the 2025 ATH attempt there will be one,2,3 peaks in the same area as those peaks and then ~2 years of lows on a slow growth
...
and here is the price range to expect the markets to work within depending on the value:premium zone based on mining hashrate of this gens hardware and costs


in short if 2023 hashrate is about 250exa, the price would wiggle SOMEWHERE between $15k-$100k
in short if 2023 hashrate is about 330exa, the price would wiggle SOMEWHERE between $20k-$130k
in short if 2023 hashrate is about 500exa, the price would wiggle SOMEWHERE between $31k-$200k

[mash23]

One thing is the original idea and another is how that idea evolves when it becomes a reality. Today we see many things that deviate from Satoshi's original idea, and not only in terms of the price that you mention.

[larry_vw_1955]

in short if 2023 hashrate is about 250exa, the price would wiggle SOMEWHERE between $15k-$100k
in short if 2023 hashrate is about 330exa, the price would wiggle SOMEWHERE between $20k-$130k
in short if 2023 hashrate is about 500exa, the price would wiggle SOMEWHERE between $31k-$200k

well i dont know about those price ranges. they seem so wide. maybe if you could make them narrower they would have more meaning.

bitcoin can never stop trying to increase the hashrate as new tech comes out otherwise it could suffer a 51% attack. so there will never be a high enough hashrate that could secure the network indefinitely. it would be nice if that weren't the case but it is what it is.