Post
Topic
Board Economics
Re: Does the Price of Bitcoin Matter?
by
Betwrong
on 15/09/2016, 08:15:29 UTC
Of course it does. If you would invest right now $1k into BTC at the $600 price and one hour later the price goes down to $20, would it matter? Of course it would.

If you are in bitcoin for investment, the price in dollars matters. But if you are into bitcoin because you believe that there is a need for bitcoin and crypto is the future then it does not matter. And in your scenario, only an hour passed. If your going to invest into bitcoin, do it for long term investment.
You are correct actually.. if bitcoin price never increased that much. it would not get that many users too.
but since bitcoin took its place and got user's trust. now I don't think if bitcoin price drop  little bit people and companies will stop using it..
One thing I am certain is the more the price of bitcoin will continue to increase the more people will adopt because they will look at bitcoin as a good investment due to the progressive market and more business as well will accept bitcoin if they see good market on the number of adopters.

Yes, and this is like nuclear chain reaction: the more people will adopt Bitocoin the higher will be the price of it and then even more people will adopt bitcoin and so on... That's why I think we can get big numbers for the price of BTC in the future. We can't even imagine now how big they can be. When Bitcoin was worth $5 many people thought that this was its high limit.