Why is bitcoin stability important?

[cryptoworld1]

Bitcoin, made publicly available in 2009, began its rise to popularity around 2010 when the price for one token rose from fractions of a dollar to $0.09. Since then, its price has increased by tens of thousands of dollars—sometimes rising or falling thousands of dollars within days.

There are several reasons why Bitcoin has such a volatile price history. Understanding the factors that influence its market price can help you decide whether to invest in it, trade it, or continue watching its developments.

More For yourself Here https://www.investopedia.com/articles/investing/052014/why-bitcoins-value-so-volatile.asp

What's your opinion about  bitcoin stability important?

[R100K-Martin-Lunger]

I believe Bitcoin's stability is crucial for various reasons, with the most important being its role in establishing trust and legitimacy in the industry. This stability is key for attracting new investors, fostering wider adoption, enhancing long-term value, and supporting sustainable growth.

Without the stability provided by Bitcoin (or a similar coin), confidence among traders would be lacking, and I don’t believe the crypto industry would be as popular as it is today. At least, that's my take on it. Having at least one stable resource is essential. Personally, I recommend a 70-30 split between Bitcoin and Altcoins, depending on market conditions.

[James Anderson]

In my view, ensuring Bitcoin's stability means tackling these issues to create a more secure and dependable environment for investors and the overall cryptocurrency market.

[Misha]

 With the growth of online commerce, there is an increasing need for secure payment methods. I, for example, use cryptocurrency and exchange it on exchang.io

[Tonmoy Tj]

Many people are interested in Bitcoin today because of its volatile nature. Especially traders and investors. They seek opportunity to make profits from every movement Bitcoin make. It's all about buying low and selling high. When this very thing is gone, there will be fewer people attracted to Bitcoin. But that's not a bad thing TBH. It will finally make BTC what it is. BTC was meant to be a P2P transaction system, not an investment asset. But this is also the beauty of Bitcoin. It can be many things.

Investment asset, someone's retirement plan, decentralized payment method, world currency, and whatever you want it to be. It's up to you. As long as the stability is not here, take advantage of it and make a profit. When it gets stable, we will think about it then.

[Peter90]

BTC was meant to be a P2P transaction system, not an investment asset.

I agree.
If they called it cryptocurrency it's because it was supposed to be a currency.

They say a currency is "a system of money in general use in a particular country".
BTC is not in general use.

They say also that a currency is "the fact or quality of being generally accepted or in use".
BTC is generally not accepted as a mean of payment i.e. as a medium of exchange.

That means that until now BTC is a failed (crypto-)currency.
Its volatility prevents it to be a (crypto-)currency.

[Themepen]

I understand that you are worried about making sure bitcoin stays stable and doesn't have any big problems in the cryptocurrency market.Stability is really important for digital currencies to grow and be used by more people. We can make sure stability happens by stopping big changes in how cryptocurrencies work, preventing prices from going up too fast, and making sure they don't change a lot.

When things are uncertain and not stable, it can make people not want to invest in cryptocurrencies like bitcoin. This can stop them from growing.So, it's important to fix these problems and make sure the market is stable and reliable. We can do this by making rules, being open about how things work, and making sure people trust cryptocurrencies.

If we take action to stop risks and make sure things are stable, we can help bitcoin and other cryptocurrencies have a good future.It's really important for everyone involved in the industry, the people who make rules, and the people who use cryptocurrencies to work together to make sure things are stable.

[NikeFit_7777]

With the growth of online commerce, there is an increasing need for secure payment methods. I, for example, use cryptocurrency and exchange it on exchang.io

Depends on how beneficial it is to you in the first place. If it's more convenient for you, why not? Bitcoin is becoming more and more popular every year and so on.

[Dr.B_]

Instability can increase uncertainty, inhibit investment, hamper the growth of alcoint.
for your opinion?

What are you actually talking about? Is it to make the price of Bitcoin stable or what? Bitcoin is a very volatile asset and can not become a stable coin.

[Coinmama7824]

Bitcoin stability is important most especially for the health of other alternate coins too. Because if bitcoin will always drop, the effect of it will be a disastrous since it will affect most of the alt coins to fall down too.

The fact bitcoin doesn't always drop in price doesn't mean it's stable, bitcoin is known for it's volatility and saying or thinking it's a stable asset would be a mistake mate.

[Gormicsta]

In the case of Bitcoin, volatility is a crucial consideration. The amount that the price of Bitcoin fluctuates over time is referred to as its volatility. When there is minimal volatility, the price of Bitcoin tends to be more constant, but when there is high volatility, it can move up or down extremely quickly. Because it has the potential to impact both the perceived risk of investing in Bitcoin and its overall value, volatility is significant. Some investors may find increased volatility appealing because they are prepared to assume greater risk in exchange for the possibility of better profits. Some, on the other hand, who value consistency and predictability, may find it discouraging.

[Alcor]

Instability can increase uncertainty, inhibit investment, hamper the growth of alcoint.
for your opinion?

What are you actually talking about? Is it to make the price of Bitcoin stable or what? Bitcoin is a very volatile asset and can not become a stable coin.

If we are talking about price stability here, then Bitcoin, like all decentralized cryptocurrencies, cannot have a stable price. High price volatility is an integral element of the cryptocurrency market and this is what attracts both traders and cryptocurrency holders to this market. Cryptocurrency will always have high price mobility because it has no regulatory authorities in this regard. The price of Bitcoin and other cryptocurrencies is formed only on the basis of supply and demand, and these values tend to constantly change.

[Coinmama7824]

Bitcoin stability is very important for the legalization of cryptocurrency states. The high price volatility of cryptocurrency is a big problem in the way of its legalization. Also, high price volatility of cryptocurrency significantly hinders its implementation and use by business structures. At the same time, high volatility has a positive effect on cryptocurrency trading and market activity.

I completely agree that governments and companies may find it difficult to widely adopt Bitcoin due to its extreme volatility. A great deal of risk and uncertainty can be brought about by volatility, which may discourage some consumers from using or purchasing Bitcoin. However, as you pointed out, traders and investors who are able to capitalize on market changes may also benefit from high volatility.

[0t3p0t]

I think promoting bitcoin stability is partly a matter of avoiding the alcoint crisis, major changes in cryptocurrencies activities, high inflation, and excessive volatility and alcoint markets. Instability can increase uncertainty, inhibit investment, hamper the growth of alcoint.
for your opinion?

You mean "Altcoin" OP? We all know that decentralized assets are volatile and centralized ones are stable so by that, we are aware of it already. Therefore we make faster and more profits in a volatile market compared to the stable ones. There are actually two things that will possibly happen when an asset is volatile it is either we win or lose so beware.

[Rj Manik]

Bitcoin stability is very important for a few reasons. Like its role as a store of value and medium of exchange, bitcoin's purchasing power remains relatively consistent over time. Increases trust between users and businesses. A stable price can make daily Bitcoin transactions more practical as buyers and sellers can predict the value of the currency. But I think Bitcoin stability is not possible in the current crypto world.