It might indirectly affect the price of bitcoin a little and a while
while the stock market, I don't know much about that ... but maybe it's just a coincidence
Topic: Saudi Oil and how the recent attack may affect Bitcoin (Read 662 times)
Saudi oil has no relevant to affect bitcoin, on which I agreed to some said here on your topic. Bitcoin was based on blockchain technology
while Oil was too differ unto it. Perhaps, if you buy oil at the lowest price for sure you could earn more than the amount you purchase but
not in bitcoin for sure dude it has no connection with it, very irrelevant.
while Oil was too differ unto it. Perhaps, if you buy oil at the lowest price for sure you could earn more than the amount you purchase but
not in bitcoin for sure dude it has no connection with it, very irrelevant.
The recent blast on Saudi Oil companies has caused a heavy disturbance to the economy. More and more country's economy is completely dependent on the oil industry. By that time a small fluctuation took place in the bitcoin market, causing the price to fall low to $9500. In a very short time period the market got recovered and now once again price has fallen reaching $8000.
I am sure that those who are forex traders and bought oil will receive some good profits from their businesses, but I really don't see any correlation between the attack on the Saudi Oil base and Bitcoins, remember that when oil ships were being attacked on the strait of hormuz, it actually brought neither negative or positive impact on Bitcoins. 
The recent blast on Saudi Oil companies has caused a heavy disturbance to the economy. More and more country's economy is completely dependent on the oil industry. By that time a small fluctuation took place in the bitcoin market, causing the price to fall low to $9500. In a very short time period the market got recovered and now once again price has fallen reaching $8000.
where do you think btc will go?
I think we are going to go more south but I could be wrong. I am waiting for a few indications to confirm a bear trend before confirming, but it does look to me that we are going to go below four thousand bucks over the coming days or weeks. I made a little profit trading today so I put that profit straight into Tether as I am not going to risk losing my profit. Even 40 bucks in Tether is safer than losing another 30/50% in Bitcoin right now. When a bottom is confirmed then I might go back in and buy a little Bitcoin and if I can make enough together put it in Nexo get a loan and tether it to hedge the loan off. Ideally, I want to trade enough to gather funds to have one whole Bitcoin one day and just leave it be. If it ever moons then it might be nice to do something with it like buy real estate to rent out.
I doubt that this will affect the price of bitcoin at least a little
Well we have proven this now that it won’t effect the price of Bitcoin,after a week nothing has we expect the price down things that I thought we can see some rollback from the valueThough economy of more country now are suffering from this Oil attack but the crypto market was not and will never be
Good thing is that Saudi arabia is not a Crypto currency enthusiast therefore i don't see any great impact to Bitcoin after the series of bombing to their oil fields. Except if majority of their oil companies are using Bitcoin transactions (which is not) for their businesses then Bitcoin market will be surely affected.
I doubt that this will affect the price of bitcoin at least a little
Well we have proven this now that it won’t effect the price of Bitcoin,after a week nothing has we expect the price down things that I thought we can see some rollback from the valueThough economy of more country now are suffering from this Oil attack but the crypto market was not and will never be
This incident has nothing to do with Bitcoin, the only thing that can have an impact on Bitcoin going forward is information about hacking, government developments regarding crypto views. Any government that give announcement about they accept or not Bitcoin is the main thing that can affect Cryptocurrency.
No one will know if that is nothing to do with bitcoin or not. Perhaps, that will not give an impact directly, and it will not give the effect in a short time as the cryptocurrency can change without any reason. But I think that will impact the economy and the turn over the cash. And it could give the impact to the stock market as we know that every news that happens in real life can give the impact to the stock market. But let's hope that it will give a chance for bitcoin to increase higher after a long time of waiting.
Everyone was expecting that the crude prices may jump by 15% to 20% on the aftermath of the attack. But that never happened. The Brent crude price on NASDAQ was $60.22 per barrel before the attack and now it is trading at $64.60 per barrel. So there was no major impact on the oil prices, resulting from the attack. And since the rise was less than 8%, I don't think that it can have an impact elsewhere.
And with that being said, this unfortunate incident will have no impact on the Bitcoin market. I can't see the correlation as well how it might influence the bitcoin's price. Or we might not feel it's impact as of this moment. It can have a huge impact over the fiat currencies, as crude oil trade represents the largest sector within international trade volumes. 80 million barrels of crude oil are being produced every day, worth around $5 billion. This amounts for $2 trillion per year. Countries such as Saudi Arabia uses USD for the crude oil trade, which increases the worth of that particular currency. Increased crude oil prices would mean an increase in the daily turnover of USD, and this in turn can push its value up (against other currencies such as the Euro and the Pound). If the BTC vs USD rate remains stable, it may result in an increase in the Bitcoin exchange rate against currencies such as EUR, GBP, JPY and CNY.
Everyone was expecting that the crude prices may jump by 15% to 20% on the aftermath of the attack. But that never happened. The Brent crude price on NASDAQ was $60.22 per barrel before the attack and now it is trading at $64.60 per barrel. So there was no major impact on the oil prices, resulting from the attack. And since the rise was less than 8%, I don't think that it can have an impact elsewhere.
And with that being said, this unfortunate incident will have no impact on the Bitcoin market. I can't see the correlation as well how it might influence the bitcoin's price. Or we might not feel it's impact as of this moment.
This incident has nothing to do with Bitcoin, the only thing that can have an impact on Bitcoin going forward is information about hacking, government developments regarding crypto views. Any government that give announcement about they accept or not Bitcoin is the main thing that can affect Cryptocurrency.
Everyone was expecting that the crude prices may jump by 15% to 20% on the aftermath of the attack. But that never happened. The Brent crude price on NASDAQ was $60.22 per barrel before the attack and now it is trading at $64.60 per barrel. So there was no major impact on the oil prices, resulting from the attack. And since the rise was less than 8%, I don't think that it can have an impact elsewhere.
World economics are a bust. People are greedy and it affects all different kinds of economy all over the world. Saudi oil may have an effect on a general aspects of the stock markets etc and naturally it may have an effect on bitcoin.
I appreciate to your speculation but it seems like we have a different view of it. I just thinking that every economic cases doesn't have any relation to bitcoin price will up and down. Expect the investor of oil have an interest to bitcoin and they know the risk of bitcoin. And I just feeling that the conventional investor will find a difficult thing when they decide to invest in bitcoin, they will see the risk thing first and another negative information first before they start.However, there is some interesting news compared to this information. Bakkt bitcoin future is something that should be counted by you. I think it will effect to bitcoin price if the service will be launched.
On Sat, 14th of Sept 2019, reports of a drone attack on Saudi Oil facilities which reduced their daily output by 5.7 million bpd as reported by aljazeera which was known to be up to 50% of the Oil nation’s total output
“Tensions in the Middle East have escalated following drone attacks on two major oil facilities in Saudi Arabia
The pre-dawn attacks on Saturday knocked out more than half of crude output from the world's top exporter - five percent of the global oil supply - and cut output by 5.7 million barrels per day.
Prominent crude oil strategist Phil Flynn at Price Futures Group said on Sunday that the drone strike was a “big deal” that could result in a major spike in crude-oil prices, because of the disruption to global supplies”
These statements from various news reports on the terrible incident that happened in Saudi Arabia has left me with speculations, as this will affect other industries directly and indirectly and will have a ripple effect on the stock markets. I noticed most times when the stock market is going great or at least very volatile, attention ends up being taken away from crypto and investors who would’ve been dealing with crypto would be studying the stock market.
My prediction (which should also be taken as a question up for debate) is that there will be a spike for BTC anywhere around the corner as this usually happens during / after volatile periods in the stock market.
Alex Ginsburg, TechLead
100% Certified Financial Loss Recovery Agent, we will recover what you lost regardless of how it happened.
https://t.me/alextechlead
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[email protected]
“Tensions in the Middle East have escalated following drone attacks on two major oil facilities in Saudi Arabia
The pre-dawn attacks on Saturday knocked out more than half of crude output from the world's top exporter - five percent of the global oil supply - and cut output by 5.7 million barrels per day.
Prominent crude oil strategist Phil Flynn at Price Futures Group said on Sunday that the drone strike was a “big deal” that could result in a major spike in crude-oil prices, because of the disruption to global supplies”
These statements from various news reports on the terrible incident that happened in Saudi Arabia has left me with speculations, as this will affect other industries directly and indirectly and will have a ripple effect on the stock markets. I noticed most times when the stock market is going great or at least very volatile, attention ends up being taken away from crypto and investors who would’ve been dealing with crypto would be studying the stock market.
My prediction (which should also be taken as a question up for debate) is that there will be a spike for BTC anywhere around the corner as this usually happens during / after volatile periods in the stock market.
Alex Ginsburg, TechLead
100% Certified Financial Loss Recovery Agent, we will recover what you lost regardless of how it happened.
https://t.me/alextechlead
[email protected]
[email protected]
In the first place, Saudi oil is differ to Bitcoin, therefore even the oil price down in the market pal, that has nothing to do
with the market price of bitcoin. Bitcoin has several usages were some are using as an investment form of business, then some
are for sending money, Mining and etc.
If I remember correctly In Saudi Arabia Bitcoin are banned implicitly, how would a thing already discouraged to be used by the government still have ties with the legal stuff in that country or maybe world wide ,,
It's not world war 3 or some alien attack .. I think this would ... Cause nothing at all .
If we would have been talking about Japan and Philippines I would have taken that into consideration.
It's not world war 3 or some alien attack .. I think this would ... Cause nothing at all .
If we would have been talking about Japan and Philippines I would have taken that into consideration.
My prediction (which should also be taken as a question up for debate) is that there will be a spike for BTC anywhere around the corner as this usually happens during / after volatile periods in the stock market.
you are wrong, bitcoin has never had any relationship with any other markets, specially stock market. at least not any connection that could be big enough to cause any measurable changes in its price.
this recent drama is only going to have its major effects on oil (and consequently the related products) prices. bitcoin will remain on its own path, ...like always.
What? since when did bitcoin's market became dependent on news about bitcoin? can you please elaborate? sure news can have
effects on bitcoin's price in some way but I doubt it's market is dependent on news about bitcoin alone. as far as I know
bitcoin's price is dependent on supply and demand, mining difficulty etc..
However, due to the news will be affected when the transaction increases.
what do you mean news will be affected when the transaction increases ? bitcoin and other crypto do really depend sometimes on news . what if there is a news about huge whales selling thier crypto assets ? the price will surely fall if the news is legit but if its a hoax , no changes will be made but maybe it can cause for people to panic and sell early so the price will still become affected however i dont think that this news ( oil attack ) will have an impact to btc . oil is local stock and not related to cryptos somehow but money or local currency are only possibly affected .
Bitcoin is not depended on stock market but depended on a few news published Bitcoin-related hacked phishing top exchanger likely probable news twitter or other cryptocurrency-related blogs But Bitcoin has nothing to do with Saudi Oil.
What? since when did bitcoin's market became dependent on news about bitcoin? can you please elaborate? sure news can have
effects on bitcoin's price in some way but I doubt it's market is dependent on news about bitcoin alone. as far as I know
bitcoin's price is dependent on supply and demand, mining difficulty etc..
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