it is all about supply and demand. as bitcoin becomes more famous and adopted by more people and merchants and also as it becomes more famous as an investment the demand for bitcoin increases and also with the halving the supply creation rate has also gone down which means lower dumped coins daily. the combination of these two means price going UP.

the importance of it is only for those who are investing in bitcoin, and in my opinion those who want to use it as a currency care mostly about fixed price.