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.
Bitcoin is a good market compare to those that you've mention, and yeah Saudi Oil incident has nothing to do with cryptomarket and as far as I know, they already recover and they give the assurance the the oil price will remain stable. The recent attack is just a pure terrorism against the government of Saudi, and they never say that bitcoin is the reason of that attack, the price of bitcoin is still good and not dumping because of that incident. 
Topic: Saudi Oil and how the recent attack may affect Bitcoin - page 2. (Read 662 times)
The fact is quite baseless to me because I don’t see any correlation, there are so many of these bombing happening a lot in other parts of the world and they are not having effect on bitcoin, it is happening in Africa almost daily and yet, we don’t attribute that to bitcoin, the fact you heard of Saudi’s own does not mean it will have both positive or negative effect on bitcoin because they just don’t relate.
What can affect bitcoin is when there is spike in the exchange rate of the country, which means those who are investing there would need more dollar to pump into cryptocurrency and how many people in Saudi are really into the investment, except maybe I am not seeing it the way that you are seeing it but I really do not see any relationship between the two at all.
What can affect bitcoin is when there is spike in the exchange rate of the country, which means those who are investing there would need more dollar to pump into cryptocurrency and how many people in Saudi are really into the investment, except maybe I am not seeing it the way that you are seeing it but I really do not see any relationship between the two at all.
So I was expecting that you would link bitcoin and Saudi oil facilities and what happened in Saudi but I didn't see any. I had to read it twice to find or look for the relationship brtween the two but I don't think there is. If it could affect bitcoin, I bet it's very minimal so I think we don't have worry much about how it would affect bitcoin
These markets do not overlap, so do not panic
i could see how that would affect bitcoin price. for example as the stocks market (or generally other markets that have a lot of investors with a lot of money) start performing badly, the same investors will start thinking about pulling their money out. that money doesn't just get out to stay in fiat form. it wants to go somewhere else. and one of many options could be bitcoin, so it could help bitcoin price rise.
but the real question which i think we can't answer, is how big that effect is going to be. for example are we talking about only a 10% rise for example, or is it a big surge to $30k because of it?
but the real question which i think we can't answer, is how big that effect is going to be. for example are we talking about only a 10% rise for example, or is it a big surge to $30k because of it?
This may have no immediate effect on the price of bitcoin, except there is a decline in the economic performance of Saudi Arabia, which will affect some countries in the middle east forcing these nations citizens to look for a more stable way to beat their falling currency, if they turn to bitcoin, then we will see a positive effect on the price of bitcoin, but this region won't have a massive impact since they are not economic powers of the world.
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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.
The Saudi Oil facilities are already back to full production, so they hardly felt the impact of those attacks. Yes, we cannot deny that tension in the Middle East cause economic instability and that the traders on the Stock markets would over react on any bad news, but I doubt if any of this would have a positive impact on the Bitcoin price.
We have to remember that the institutional investors are not 100% exposed to Bitcoin investments at the moment, so that capital will not flow into Bitcoin, when things like this happens. < It is not as if Bitcoin are listed on the Nasdaq Stock Market >
Bitcoin has got its market independent from the external sources. Here with large volume of funds manipulation used to take place. This will be done by the whales, and this happens at some unexpected time. A small impact of world market can be experienced over the market of bitcoin. This way bitcoin will stay strong, and this question has got raised thinking of the world market where every sector has been experiencing big drop in the market as each and everything gets linked to the oil industry. Particularly automobile industry is experiencing a big downtrend, now this makes the situation even worse.
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.
Unless the case will burst a huge scale military conflict triggering the financial crisis and panic on stocks.
in that case, it would be a special scenario, not the normal thing that we currently have. and i see a big difference there which could have the potential to even affect bitcoin.
by the way i don't think there will be any military conflict, at least not anytime soon. so far US is trying to build a fire and push others in to watch from a safe distance while the world burns. and others have been reluctant to play along.
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.
I agree. From what I have seen during the past 10 years or so, there is no relation between Bitcoin exchange rates and stock market crashes. This was confirmed during many occasions, including the Greek financial crisis and the China stock market crash. I would go one step further and say that so far none of the global financial crises had any impact on the exchange rates.
That said, the Bitcoin prices may be indirectly affected if the crude oil prices rise. Almost all of the crude oil trade is conducted using the United States Dollar, and any increase in the trade volumes are likely to boost the currency. And this may result in the other fiat currencies (such as CNY and GBP) going down against the USD. Bitcoin may also find itself in trouble.
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.
I really don't see any direct link between oil and bitcoin, oil price cannot significantly affect bitcoin. There is no correlation between those two, bitcoin price some times depends on a number of factors but I don't really see anywhere how the price of bitcoin really fits.
I don't see what this have to do with bitcoin, bitcoins price isn't affected by the oil market or any other market.
Well, I don't see any effect on bitcoin price if the crude oil in the global market were down. But I figure out one possible potential that the investors of crude oil will transfer into cryptocurrency and that is Bitcoin. But I think that is impossible unless if they already know about cryptocurrency. Adoption of Bitcoin instead in crude oil stock to invest is possible to happen here.
There's no direct correlation but there's an indirect one. Oil prices can destabilize economies and we all know the USA heavily depends on oil. If this weakens the dollar it will also strengthen alternatives like gold and cryptocurrencies.
Maybe we won't see anything happen right away but in a year or two who knows?
So you think that all the professional traders will panic because of some turmoil on their markets and will rush to buy Bitcoin - a highly volatile asset, just because it's not tied to traditional financial markets? I really doubt it happens. I have never seen any good examples of Bitcoin's price correlating with some world events - all I saw was news articles trying to explain why Bitcoin rises by looking at most recent negative events.
Well, I don't see any effect on bitcoin price if the crude oil in the global market were down. But I figure out one possible potential that the investors of crude oil will transfer into cryptocurrency and that is Bitcoin. But I think that is impossible unless if they already know about cryptocurrency. Adoption of Bitcoin instead in crude oil stock to invest is possible to happen here.
I see a tendency of a lot of people who always tries to find relation between global events and bitcoin price. But apparently there is none! Bitcoin or any other crypto doesn't have any relation with the increasing or falling of crude oil price. Bitcoin's price doesn't have any relation with the economic slowdown as well. The attack happened on 14th September and 4 days down the line, no impact is seen! World crude oil market is strictly regulated and monitored by all governments as it is a very important commodity so it is highly unlikely that any investment would flow towards bitcoin after leaving the crude oil market. These are not even co-related!
No matter how hard I think, I can't find any relationship of Bitcoin price spike to Saudi Oil attack. Unless several schemer make this recent Oil attack as a tool to hype or FUD Bitcoin. Yes, oil price will definitely increase because the source of it is affected but Bitcoin price?? I doubt it.
Will look further into it and gather more data to support (or disprove) my speculations.
I think you're right, changes in the stock market can positively affect the cryptocurrency market. However, I am more concerned about another question: can such drone attacks be the cause of military conflict in the future?
At this point, there's no need to go into the future, it's already a thing of reality. The attack on the Saudi Oil Facilities is a typical military operation targetting important industrial Facilities. It's obviously meant to attack the pockets of Saudi Arabia and unfortunately, a drone most likely controlled by an xbox controller has had an impact on the oil giant Saudi Arabia and a bit of the world's economy.
Alex Ginsburg, TechLead
100% Certified Financial Loss Recovery Service, we will recover what you lost regardless of how it happened.
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No matter how hard I think, I can't find any relationship of Bitcoin price spike to Saudi Oil attack. Unless several schemer make this recent Oil attack as a tool to hype or FUD Bitcoin. Yes, oil price will definitely increase because the source of it is affected but Bitcoin price?? I doubt it.
I appreciate your feedback, saw a few convesations about it and decided to bring it here. Will look further into it and gather more data to support (or disprove) my speculations.
Alex Ginsburg, TechLead
100% Certified Financial Loss Recovery Service, we will recover what you lost regardless of how it happened.
https://t.me/alextechlead
[email protected]
[email protected]
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