Can someone please tell me what is the relevance of the auction to the bitcoin price.
I heard something that this would help in some bullish runs, but can someone maybe explain in a brief way and the easiest manner why the auction is a big deal for everyone.
It isn't relevant to the market price. The run up to the first auction was an uncertain period. Now it's settled down.
It is a big deal for gleaning sentiment. Moronic doomsters have consistently predicted that people would buy them up and dump them instantly.
What has turned out is that serious players have been buying them for serious long term uses.