Bitcoin Price VS Bitcoin Usage

[CTO114]

Obviously Bitcoin price; the amount Bitcoin is worth at a particular time, and Bitcoin usage; the rate at which Bitcoin is adopted and used. The above phenoms surely has implications, one may be tempted to as; which is more important? The interesting fact is, price affects usage both positively and negatively. An increase in price attracts high usage, and vice versa. Conversely usage also affects the long term pricing of Bitcoin. Price has short term implications, usage and acceptance has long term implications. From the aformentioned, I can conclusively say; Price and Usage are phenoms that can influence the volatility of Bitcoin

[Karl_3000]

What is most important that make bitcoin price to increase is the usage. Some people see it as an investment, while some people see it as a hedge against inflation, while some people see it as a means of transferring money fast. This usages make people, companies and governments to adopt it. If bitcoin has not use, it would have not been adopted and its price will not increase.

But you are also not wrong, when the price of bitcoin has been increasing, this makes some people to know what bitcoin is and get interested. But do not still forget, the usage is the reason many people still go for it and not that they go for it blindly.

[Hewlet]

Usage will generally cause an increase in the Price of bitcoin while an increase in the price of bitcoin is dependent on Adoption which is the same thing as what you have termed to be usage of bitcoin. the wish of every bitcoin investor is that the degree of adoption increases with more nations and institution making use of it as either her reserve, payment medium or a source of storing her wealth. in any form that such level of adoption takes, the resultant effect is that it is going to afect the price of bitcoin postively which is a gain to anyone that is connectd to bitcoin.

The price of bitcoin is as important as it degree of adoption but with more adoption, it gives an indication that not just is bitcoin relevant today it also suggest that the future of bitcoin is only going to get better. price is just a reflection of real factors of which adoption is just a part of.

[BitGoba]

It is important to understand that Bitcoin is money, and money has only three functions a medium of exchange, a unit of account, and a store of value. As a medium of exchange, money facilitates easier trade, allowing the buying and selling of goods and services without the need for barter. As a unit of account, money serves to express prices and values of things in a clear and comparable way. As a store of value, money enables people to preserve their purchasing power over time, provided that the currency does not suffer from high inflation

Bitcoin doesn’t have a price in the classical sense, it has purchasing power or an exchange rate. Price refers to the value of goods or services expressed in money. Bitcoin is money, and money is the medium through which prices are expressed. Therefore, Bitcoin doesn’t have a price it is a measure of value and a medium of exchange. Bitcoin has purchasing power, meaning how much goods you can buy with a certain amount of Bitcoin, as well as an exchange rate, which indicates how much Bitcoin can be exchanged for other currencies.

[Z-tight]

Price and Usage are phenoms that can influence the volatility of Bitcoin

For sure, i.e. when BTC price drops, weak hands start to sell their BTC's, and this cause the price to drop even further, that is why a lot of people believe that with fewer weak hands, there would be lesser volatility. Take note that these weak hands are also the ones caught in the fomo rush when the price starts to rise again as they rush to buy the coins they sold.

However, as for BTC usage, it can mean a lot of things based on BTC's use cases, i.e. it could be holding BTC, spending BTC, setting up BTC strategic reserve, buying BTC shares through etf, etc. Demand or adoption obviously influences BTC price movement, since we already have a capped supply, a high demand would move the price upward.

[aoluain]

I think the relationship between Price and usage is a very thin one. I would go so far
as to say that possibly they are two separate entities - meaning usage as in trading,
buying, selling, HODL'ing and all other interactions as per Z-tight above posted will continue
regardless of price.

Also it should be considered that the price is based largely on the market sentiment at any
one time and this is influenced by many things both current and historical, others might
call the market as speculative and volatile.

[AVE5]

From the aformentioned, I can conclusively say; Price and Usage are phenoms that can influence the volatility of Bitcoin

Well we can say volatility drives the contention of bitcoin price by users and volume of adoptions in regards and dependantly on demands and supplies (investors and market sentiments) regulates the price value.
So far so good, bitcoin use case versatility are phenomenons to promote adoption and as well provides convenience networking transactions and monetary protocols. All the embedded phenomenons in scalability being considered, carries the magnitudes to influence bitcoin price or volatilities.

[Oshosondy]

Bitcoin utilities is the most important while the increasing price and marketcap is also very important. Bitcoin utilities led to its adoption and its adoption helped in its price to continue to increase after a long period of time. If bitcoin has no use, expect people not to buy or use bitcoin for anything and its price will not increase.

[Ruttoshi]

It's the potential of bitcoin that make more people want to adopt bitcoin because of what they are using it for. The need will trigger the demand and that will definitely increase the adoption of bitcoin and influence the price positively. No matter how expensive bitcoin is, people will continue to adopt it because of their interest in using it for their own personal purpose.

I adopted bitcoin to use it as a store of value overtime and someone else might adopt bitcoin to use it as a currency for their daily transactions because of the pseudonymous nature of bitcoin.

[Z_MBFM]

Obviously Bitcoin price; the amount Bitcoin is worth at a particular time, and Bitcoin usage; the rate at which Bitcoin is adopted and used. The above phenoms surely has implications, one may be tempted to as; which is more important? The interesting fact is, price affects usage both positively and negatively. An increase in price attracts high usage, and vice versa. Conversely usage also affects the long term pricing of Bitcoin. Price has short term implications, usage and acceptance has long term implications. From the aformentioned, I can conclusively say; Price and Usage are phenoms that can influence the volatility of Bitcoin

The price of Bitcoin increases based on adoption. The more Bitcoin is adopted, the more the price of Bitcoin will continue to increase because its supply is not unlimited. So as its demand and investment increase, its price will continue to increase because the amount of Bitcoin in the market cannot be. An example of this is seen every season. The price of Bitcoin has increased thousands of times more than what it was in the beginning. And it will continue like this because the information I found on the Internet shows that approximately 106 million people worldwide are using Bitcoin, which is only 1.3% of the total population of the world, and here the price of Bitcoin has exceeded $ 100k dollars. So what will its price be when the rest also start using Bitcoin? If you think about it, even if the price of Bitcoin is a million dollars, it will not be very expensive for Bitcoin.

[Aanuoluwatofunmi]

Obviously Bitcoin price; the amount Bitcoin is worth at a particular time, and Bitcoin usage; the rate at which Bitcoin is adopted and used. The above phenoms surely has implications, one may be tempted to as; which is more important?

They both works together, as people have to adopt the use of bitcoin in other for them to increase the more with its acceptance level and this will helps it demands to increase at the same direction, while at the end, we acheive an increase in market price, because it's value increases over time and remains the most profitable crypto asset they can invest, so both depend on each other, while we needed more for adoption and demand to make it's value ever increasing being a volatile market.

[Ishicryptic]

Obviously Bitcoin price; the amount Bitcoin is worth at a particular time, and Bitcoin usage; the rate at which Bitcoin is adopted and used. The above phenoms surely has implications, one may be tempted to as; which is more important? The interesting fact is, price affects usage both positively and negatively. An increase in price attracts high usage, and vice versa. Conversely usage also affects the long term pricing of Bitcoin. Price has short term implications, usage and acceptance has long term implications. From the aformentioned, I can conclusively say; Price and Usage are phenoms that can influence the volatility of Bitcoin

Usage and price goes hand in hand to determine the value of Bitcoin at anytime, both are important factors without which Bitcoin cannot be anything meaningful. I can say that Bitcoin usage is a means to an end which is price because it is usage that determines demand and supply which will give what current price will be. I can say that usage comes before price which is adoption, hodl and spending it, you if look at it from that perspective I can say that usage is more paramount than price because it is what drives volatility which determines whatever current price will be.

[CryptoYar]

Increase in price attracts more people who use it and this increases price further. However, in case of price fall, people think back and usage is reduced. This is good idea of variance between short term and long term value. Main driving force behind immediate price fluctuations of Bitcoin is its price, which has tendency to move rather rapidly. But question then is what is its real long term worth in terms of its use by people and businesses. In summary, price and usage link and both are factors that determine stability of Bitcoin.

[yhiaali3]

A quick look at the historical relationship between Bitcoin's price and usage reveals significant developments.

Initially, interest in usage was greater while the price was still low. Over time, as Bitcoin's use grew, the price rose, and people began to care more about price than usage. With increased adoption by large companies and governments, I see that interest in price has become much greater and interest in usage has decreased.

Due to the significant price increase, Bitcoin is now used as a store of value, while its use as a peer-to-peer payment method has declined.

[BlackBoss_]

What is most important that make bitcoin price to increase is the usage. Some people see it as an investment, while some people see it as a hedge against inflation, while some people see it as a means of transferring money fast. This usages make people, companies and governments to adopt it. If bitcoin has not use, it would have not been adopted and its price will not increase.

Fundamentally, it is good in technology: decentralized, secure and provide people good control of their coins, privacy and anonymity somewhat. Therefore people are more accepted Bitcoin over time, and when more people use bitcoin, it increases demand on Bitcoin then price will be beneficially moved upwards considerably.

Usage will generally cause an increase in the Price of bitcoin while an increase in the price of bitcoin is dependent on Adoption which is the same thing as what you have termed to be usage of bitcoin

If nobody use it, it is hard for gaining value and price and price can be somehow high in short term but in long term price will return to zero for reflecting its true value - no value.

Bitcoin, fortunately, has many use cases and utilities so that many people see these potential usages with Bitcoin and they accept Bitcoin, actually use it in their life. That's helpful for Bitcoin to get value and price in short term and in long term in very sustainable growth over time. It's very different than altcoins, scam projects that can successfully make hypes and get very high trading volume, prices for their coins in short term while in long term, we have witnessed many dead altcoins.

[Doan9269]

Am more sceptical about the way people spread FUD about bitcoin as the market falls due to market volatility or by any sudden reactions from the market that cause a number of assets invested in bitcoin to liquidate, which is what many take up to the Internet and spread news about it to confuse others or discourage them from investing, some some that already have the knowledge about bitcoin will not follow all these, instead, they will go by what bitcoin is and from what they have learnt and discover from it, that after every fall comes a rise, we are seeing a number of people now investing, trading and making payments with Bitcoin because they found it more affordable than fiat from centralized authorities.

[bitzizzix]

As mentioned, Bitcoin's value is determined by both positive and negative usage. As we've seen, increased adoption, or the number of users using Bitcoin in various ways, can affect the price, causing it to rise. This can also increase trading volume; higher buying or selling can create upward pressure, causing the price to rise, and vice versa.
Bitcoin is designed for volatility, and the cryptocurrency market is highly speculative. While many factors, such as economic conditions, market sentiment, and so on, can influence Bitcoin's price volatility, the most prominent and common factor is supply and demand.

[Die_empty]

Price and Usage are phenoms that can influence the volatility of Bitcoin

For sure, i.e. when BTC price drops, weak hands start to sell their BTC's, and this cause the price to drop even further, that is why a lot of people believe that with fewer weak hands, there would be lesser volatility. Take note that these weak hands are also the ones caught in the fomo rush when the price starts to rise again as they rush to buy the coins they sold.

However, as for BTC usage, it can mean a lot of things based on BTC's use cases, i.e. it could be holding BTC, spending BTC, setting up BTC strategic reserve, buying BTC shares through etf, etc. Demand or adoption obviously influences BTC price movement, since we already have a capped supply, a high demand would move the price upward.

Weak hands will always exist because people will always have reasons to sell their Bitcoin. There will always be new entrants to the market that will ignorantly dump coin into the market.

Bitcoin awareness will increase adoption, which ultimately leads to an increase or decrease in price. Bitcoin use could be a huge dump which would affect the price adversely.     

[purple_sparkles]

Price and Usage are phenoms that can influence the volatility of Bitcoin

For sure, i.e. when BTC price drops, weak hands start to sell their BTC's, and this cause the price to drop even further, that is why a lot of people believe that with fewer weak hands, there would be lesser volatility. Take note that these weak hands are also the ones caught in the fomo rush when the price starts to rise again as they rush to buy the coins they sold.

However, as for BTC usage, it can mean a lot of things based on BTC's use cases, i.e. it could be holding BTC, spending BTC, setting up BTC strategic reserve, buying BTC shares through etf, etc. Demand or adoption obviously influences BTC price movement, since we already have a capped supply, a high demand would move the price upward.

Weak hands will always exist because people will always have reasons to sell their Bitcoin. There will always be new entrants to the market that will ignorantly dump coin into the market.

Bitcoin awareness will increase adoption, which ultimately leads to an increase or decrease in price. Bitcoin use could be a huge dump which would affect the price adversely.     

I think that the more people start using bitcoin for payments in their daily lives, and the more governments begin to adopt it into their systems, the more regulations will be imposed on it. As a result, its price may become less volatile, the fluctuations won’t be as significant, and investing in bitcoin may become less profitable compared to other assets.

[Synchronice]

Obviously Bitcoin price; the amount Bitcoin is worth at a particular time, and Bitcoin usage; the rate at which Bitcoin is adopted and used. The above phenoms surely has implications, one may be tempted to as; which is more important? The interesting fact is, price affects usage both positively and negatively. An increase in price attracts high usage, and vice versa. Conversely usage also affects the long term pricing of Bitcoin. Price has short term implications, usage and acceptance has long term implications. From the aformentioned, I can conclusively say; Price and Usage are phenoms that can influence the volatility of Bitcoin

I would say that increment in price doesn't attract those people who want to make Bitcoin payments but it definitely attracts people who want to buy it and keep it in their wallet. Price increment on its own doesn't attract people to make transactions because it's making transactions more expensive. If 1 sat/vByte fee worth $0.08 today, after the 100% rise of the price, it worth $0.16, so, it's definitely not attractive to make a transaction when there are other altcoins like Litecoin and similar ones that offer basically free transactions.