What is the importance of price in Bitcoin?

[sampoerna]

Many communities in this field of the crypto industry know that bitcoin can reach its $1 million price each, but the question is, when will this happen? If the current price of bitcoin has already taken 15 years, do we think we will have to wait for a few more years?

So why should we think of such a high price immediately if it will take a long time to happen? right?  It's better to talk about what can actually happen,
not too good to be true questions.

It could happen, but yes, it is for the next few years. It's just that our focus is on the current situation. Bitcoin price target in the upcoming bullish season, and also Bitcoin price movements for this present. Because it is true, the price of Bitcoin inevitably remains dependent on most Altcoins. We see that so far when BTC drops, most altcoin prices will also follow, dropping even further. As is currently happening, the price of BTC is rising to around $68,500 ++, so when we look at the altcoin graph, most of them are also increasing, it's just that there are some altcoins that are quite different, especially new altcoins. But the point is, the price of BTC is very dependent on the movement of altcoin prices.

[MRY]

Many communities in this field of the crypto industry know that bitcoin can reach its $1 million price each, but the question is, when will this happen? If the current price of bitcoin has already taken 15 years, do we think we will have to wait for a few more years?

So why should we think of such a high price immediately if it will take a long time to happen? right?  It's better to talk about what can actually happen,
not too good to be true questions.

It could happen, but yes, it is for the next few years. It's just that our focus is on the current situation. Bitcoin price target in the upcoming bullish season, and also Bitcoin price movements for this present. Because it is true, the price of Bitcoin inevitably remains dependent on most Altcoins. We see that so far when BTC drops, most altcoin prices will also follow, dropping even further. As is currently happening, the price of BTC is rising to around $68,500 ++, so when we look at the altcoin graph, most of them are also increasing, it's just that there are some altcoins that are quite different, especially new altcoins. But the point is, the price of BTC is very dependent on the movement of altcoin prices.

It has been known that Bitcoin price has a significant impact on the total cryptocurrency market including but not limited to altcoin market. The prices of altcoins always tend to rise when Bitcoin is also on the rise although some of them go up or down to more extreme levels than Bitcoin. Altcoins can be more unstable therefore while some of them may go up in value more than others when Bitcoin is rising they can also drop further when Bitcoin is falling. This can be observed at the moment when Bitcoin is approaching $68350 and most of the altcoins are also experiencing their price rise.

However, it will be important to know that there some altcoins that are not always influenced by Bitcoin price, especially newly introduced altcoins that have their own market model. Some of the variables that might departs from this are low market liquidity, ability to embrace new technologies, or general market sentiment towards particular projects in case of these altcoins. Nonetheless, by and large, it is Bitcoin that continues controlling price fluctuations in the crypto market primarily because of its sheer domination in the sphere of cryptocurrencies.