It also has to be more stable (which it still isn't) to function better as a currency.
Price also affects bitcoin's security since it directly affects the mining profitability and the hashrate.
Quote from: Nrcewker
Once Bitcoins reach a stable price, the less posts regarding it’s price you can see.
I don't see how bitcoin can ever reach a "stable price". Since it's not a stablecoin. I think that's just one of the things people have to accept if they are going to use bitcoin is it can sometimes have big price swings. There's no solving that. Because theres no way to predict world events and world events can affect bitcoin price. Things like wars, viruses, political forces, etc. Those type of things don't happen everyday but then there are smaller "micro-events" which probably cause smaller price fluctuations more often which you can't get rid of either like crashes in the crypto market caused by exchanges becoming illiquid aka celcius, voyager type events.
Price will stabilize once there is more liquidity in the network. See this as a pool. If you through a big rock into the pool, big waves will form. If you through a tiny rock, you'll barely see any waves. Now, take the same rocks, get yourself into a helli, and through those same rocks in the ocean from a considerable altitude. You'll see nothing from neither of the rocks because in this case the pool is so big that it "absorbed" it all.
The same happens with Bitcoin, the more supply in circulation (up to 21 million, of course) and the more the value of each sat, the less effect will be noticed from market actions like transfers, buys and sells!
