What happnes to BTC,if the oil price goes up?

nur rochid

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Quote from: shoreno on February 01, 2019, 07:24:03 PM

Quote from: Menawi12 on February 01, 2019, 09:05:11 AM

Quote from: Genemind on February 01, 2019, 12:38:51 AM

Quote from: davis196 on May 24, 2018, 08:06:51 AM

The oil price is going up and many people expect it will go above 100 USD per barrel,or even 120 USD per barrel.How this will impact the world economy and the cryptocurrency prices?
I have many own theory about this and I will share it later,but know I'm waiting for other opinions.
Is this good or is it bad for bitcoin?

I think there's no relevance between the oil price and BTC price. It depends if a big investor of crypto is also an investor in oil market and they will withdraw a big amount of BTC to make up for their loss. However, there's no direct connection between the two.

I am agree there is no direct connection between oil and bitcoin. Oil price maybe affected by politics and manufacturing production and its not related with bitcoin because bitcoin is cryptocurrency.

Why not ? If oil rise people will strugling to buy it but they will still buy it because oil is pretty important , we use it on our daily life especially for cooking our foods . now if people bought the oil in high price , people wont now have the ability to buy bitcoins and even other cryptos because they dont have enough cash anymore .

I think cooking is a routine, so that those who have large scale oil use are industrial. even so, I think that between bitcoi and oil has nothing to do with it. because both are different types of investments

jcarlo

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Quote from: davis196 on May 24, 2018, 08:06:51 AM

The oil price is going up and many people expect it will go above 100 USD per barrel,or even 120 USD per barrel.How this will impact the world economy and the cryptocurrency prices?
I have many own theory about this and I will share it later,but know I'm waiting for other opinions.
Is this good or is it bad for bitcoin?

OIl is commodity and in few country, bitcoin is commodity too. I dont think oil price impact on bitcoin price because its very different. Oil is depend on world economic growth and bitcoin is peer to peer transaction cryptocurrency.

shoreno

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Quote from: Menawi12 on February 01, 2019, 09:05:11 AM

Quote from: Genemind on February 01, 2019, 12:38:51 AM

Quote from: davis196 on May 24, 2018, 08:06:51 AM

The oil price is going up and many people expect it will go above 100 USD per barrel,or even 120 USD per barrel.How this will impact the world economy and the cryptocurrency prices?
I have many own theory about this and I will share it later,but know I'm waiting for other opinions.
Is this good or is it bad for bitcoin?

I think there's no relevance between the oil price and BTC price. It depends if a big investor of crypto is also an investor in oil market and they will withdraw a big amount of BTC to make up for their loss. However, there's no direct connection between the two.

I am agree there is no direct connection between oil and bitcoin. Oil price maybe affected by politics and manufacturing production and its not related with bitcoin because bitcoin is cryptocurrency.

Why not ? If oil rise people will strugling to buy it but they will still buy it because oil is pretty important , we use it on our daily life especially for cooking our foods . now if people bought the oil in high price , people wont now have the ability to buy bitcoins and even other cryptos because they dont have enough cash anymore .

boty

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oil prices and bitcoin prices will never be able to have a relationship, they have very different characters and when the price of oil experiences an increase in prices it will not have an impact or influence on the increase in the price of bitcoin.

so it won't have a good impact and doesn't have a bad impact on bitcoin.

Menawi12

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Quote from: Genemind on February 01, 2019, 12:38:51 AM

Quote from: davis196 on May 24, 2018, 08:06:51 AM

The oil price is going up and many people expect it will go above 100 USD per barrel,or even 120 USD per barrel.How this will impact the world economy and the cryptocurrency prices?
I have many own theory about this and I will share it later,but know I'm waiting for other opinions.
Is this good or is it bad for bitcoin?

I think there's no relevance between the oil price and BTC price. It depends if a big investor of crypto is also an investor in oil market and they will withdraw a big amount of BTC to make up for their loss. However, there's no direct connection between the two.

I am agree there is no direct connection between oil and bitcoin. Oil price maybe affected by politics and manufacturing production and its not related with bitcoin because bitcoin is cryptocurrency.

kkaroul4

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there seems to be no change if oil experiences a large price increase because bitcoin and oil have nothing to do with it. so that the two will increase in price individually because there is no slight impact on both

Genemind

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Quote from: davis196 on May 24, 2018, 08:06:51 AM

The oil price is going up and many people expect it will go above 100 USD per barrel,or even 120 USD per barrel.How this will impact the world economy and the cryptocurrency prices?
I have many own theory about this and I will share it later,but know I'm waiting for other opinions.
Is this good or is it bad for bitcoin?

I think there's no relevance between the oil price and BTC price. It depends if a big investor of crypto is also an investor in oil market and they will withdraw a big amount of BTC to make up for their loss. However, there's no direct connection between the two.

virasog

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Quote from: iMark on January 25, 2019, 09:18:40 PM

Quote from: whirlcoin on January 25, 2019, 06:05:06 PM

Quote from: dzhan on January 25, 2019, 05:07:05 PM

If BTC price goes up, the number of new comers and new investors will increase as well, and the trading volume of Bitcoin will increase obviously, as a result. This will make BTC even much more attractive, and it will help to get the whole crypto market stable.

Yes it will be definitely profitable for BTC if the oil price increases then the people in the country will gain more income from that so it made them to invest and Bitcoin then only the Bitcoin will be developed like a pro so it could be a important thing also.

The questions is what is the correlation between rising oil and bitcoin prices rising? in my opinion there is no relationship between bitcoin and oil. when oil runs out though the internet will still run and you can still use bitcoin right?

This would imply that dollar will be de-esteemed, oil costs will be worth substantially more dollar and consequently bitcoin costs will likewise ascends because of increment in dollar rates.

Precisely what I was reasoning excessively that there is no connection among oil and bitcoin costs. The main think I see here is that the oil costs may rise not due to lack of Oil but rather on account of degrading of Dollar .

andriarto

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Quote from: raidarksword on January 25, 2019, 10:10:16 PM

Oil and bitcoin has different market prices and they decided the growth of supply and demand. Oil has a great factor of demand and supply hence they are used on daily basis by everyone. In the cases of bitcoin we are almost there to be widely used by everyone as well, we just need more push for us so that the world will see on how bitcoin can change the financial payment system in the future.

I think so too, with market differences making both of them not related. but there is a country that is an oil producer, when oil prices fall, they experience a crisis so that their currencies become worthless, the solution is to replace fiat currency into cryptocurrency, it happens in Venezuela, but the way was taken because their fiat currency was worthless

raidarksword

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Oil and bitcoin has different market prices and they decided the growth of supply and demand. Oil has a great factor of demand and supply hence they are used on daily basis by everyone. In the cases of bitcoin we are almost there to be widely used by everyone as well, we just need more push for us so that the world will see on how bitcoin can change the financial payment system in the future.

3core

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Bitcoin is not a regular fiat currency that is determined by an economic condition, Bitcoin is not attached to any regulated condition than demand and supply. It doesn't matter to Bitcoin if the price of oil increases or not.

iMark

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Quote from: whirlcoin on January 25, 2019, 06:05:06 PM

Quote from: dzhan on January 25, 2019, 05:07:05 PM

If BTC price goes up, the number of new comers and new investors will increase as well, and the trading volume of Bitcoin will increase obviously, as a result. This will make BTC even much more attractive, and it will help to get the whole crypto market stable.

Yes it will be definitely profitable for BTC if the oil price increases then the people in the country will gain more income from that so it made them to invest and Bitcoin then only the Bitcoin will be developed like a pro so it could be a important thing also.

The questions is what is the correlation between rising oil and bitcoin prices rising? in my opinion there is no relationship between bitcoin and oil. when oil runs out though the internet will still run and you can still use bitcoin right?

whirlcoin

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Quote from: dzhan on January 25, 2019, 05:07:05 PM

If BTC price goes up, the number of new comers and new investors will increase as well, and the trading volume of Bitcoin will increase obviously, as a result. This will make BTC even much more attractive, and it will help to get the whole crypto market stable.

Yes it will be definitely profitable for BTC if the oil price increases then the people in the country will gain more income from that so it made them to invest and Bitcoin then only the Bitcoin will be developed like a pro so it could be a important thing also.

dzhan

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If BTC price goes up, the number of new comers and new investors will increase as well, and the trading volume of Bitcoin will increase obviously, as a result. This will make BTC even much more attractive, and it will help to get the whole crypto market stable.

superstarbtc

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btc is no way related to oil prices or any commodity prices btc is independent of any socio-economic events it purely depends on mathematical formula and hype of bitcoins news

Burogh

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Quote from: davis196 on May 24, 2018, 08:06:51 AM

The oil price is going up and many people expect it will go above 100 USD per barrel,or even 120 USD per barrel.How this will impact the world economy and the cryptocurrency prices?
I have many own theory about this and I will share it later,but know I'm waiting for other opinions.
Is this good or is it bad for bitcoin?

I think there is correlation between oil price and cryptocurrency price. If oil price rising, i think it will affecting to world economic. Many goods price will increasing and i think inflation will increasing too. But i dont think oil price rising will affecting to crypto price

STT

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There is always going to be some connection, its about correlation % matching between the two though. There is no direct link like perhaps airline fares and oil price can be said to have a direct link.

However both Oil and BTC relate to globally traded assets so there is a link. Both are inverse to US dollar, as the worth of dollar rises the price of both these trades has a greater worth to every unit hence price might fall.

Also there is a relation to global growth, GDP and also BTC as people will more typically use BTC with spare cash. Also oil prices rises as more industry growth demands its energy is usage. I strongly disagree they have no relation at all

Triwiyono

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is there any effect if the oil price up and the price of bitcoin goes up? in my opinion there is no connection between cryptocurrency and the oil business.
Bitcoin prices up if there are many investors who buy.

Mikky.Crypto

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Do they correlate at least somehow? I think not. If there are such movements, it is only because the mood of the markets coincides. The cryptocurrency market (and Bitcoin in particular) is not yet similar to other markets. Cryptocurrency is too unpredictable and can behave very different from general trends. Therefore, no one knows what will happen to Bitcoins, if the price of oil goes up.

jerry7788

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Quote from: davis196 on May 24, 2018, 08:06:51 AM

The oil price is going up and many people expect it will go above 100 USD per barrel,or even 120 USD per barrel.How this will impact the world economy and the cryptocurrency prices?
I have many own theory about this and I will share it later,but know I'm waiting for other opinions.
Is this good or is it bad for bitcoin?

There is no direct connection between the oil price and cryptocurrency price. But if we try to predict the result. i believe that cryptocurrency price will go up. Here are the reasons:
1. Investors will be hesitate to invest on oil when the price is high.
2. When oil price goes up, there is big chance that coal and electricity will go up. Mining cost will rise.

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