There won't be any effect on Bitocoin or oil prices either because the oil prices are determined by US Dollar and not with Bitcoin or any crypto. I think there is no connectivity for oil price and Bitcoin and you are getting confused with the crypto economy and oil economy.
If Bitcoin is accepted world wide as a legal tender then oil price may be fixed on the bases of Bitcoin price and that may take several years to happen.
Topic: What happnes to BTC,if the oil price goes up? - page 12. (Read 2487 times)
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?
Following your logic, BTC price should have been dependent on the cost of mining/electricity, which significantly differs in various countries (compare ~$40/MWh in Iceland and ~$170/MWh in Japan).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?
In reality, we can see that coins mined in Iceland are valued the same as the coins mined in Japan.
So the price of bitcoin has nothing to do with conventional commodities like oil, gas, electricity, etc.
It depends solely on supply and demand and the overall situation on the market affected by news and attempts of regulation.
Bitcoin value has nothing to do even if the oil price goes higher because they are both different and Bitcoin is not related to oil. So we cannot connect bitcoins price to the movement of price of the oil.
I also think of it, what is the bitcoin relationship with oil prices, whereas the price of oil with bitcoin has nothing to do, for example today the bitcoin price is down, whether the price of oil also goes down, it is not. on the contrary the price of bitcoin down oil prices even rise. so there is no hungannya between oil with bitcoin. that's what I think. 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 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?
The oil cost increment in the worldwide market right currently has no effect on bitcoin cost, on the grounds that the bitcoin isn't utilized oil for its live, and bitcoin is certainly not a day by day needs of the general population, so why the oil cost increment will influencing bitcoin value, bitcoin and oil are distinctive business and not associated by each other.
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 personally think bitcoin and oil price has no relation to each other. Those are two different things and they do not even have the same purpose. So if the price of the oil went up, there will be no effect on bitcoin's price. 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?
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 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?
The oil cost increment in the worldwide market right currently has no effect on bitcoin cost, on the grounds that the bitcoin isn't utilized oil for its live, and bitcoin is certainly not a day by day needs of the general population, so why the oil cost increment will influencing bitcoin value, bitcoin and oil are distinctive business and not associated by each other.
Bitcoin value has nothing to do even if the oil price goes higher because they are both different and Bitcoin is not related to oil. So we cannot connect bitcoins price to the movement of price of the oil.
I believe that the price of bitcoin does not depend on the price of oil. This is an independent currency that is not fixed by any factors. Though we will see it
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?
The opposite thing will happen . The bitcoin price will going deeper an deepr because it affects the oil price while the oil price will be increasing and will double the btc price . 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?
Are you sure about that? I don't think price of BTC was correlated with the price of oil. If it is already, the oil is associated with fiat. I don't think anyone would be trading oil for cryptocurrencies, at least not officially. So it doesn't affect the price of Bitcoin.
Rather, the price of oil will affect on fiat currencies. The price of bitcoin depends on many factors, and when the market is firmly settled by institutional investors, there will be even more such factors.
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 and bitcoin don't have any connection unless all oil industry is relying too in bitcoin but it's not. So they don't any connection so even oil go higher the price there's no impact in cryptocurrency. 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?
Nothing happen i think. Maybe effects in trading pair between BTC and fiat.
But i think it's will not give big effects because it's not have relations between crypto and oil
between traders crypto and oil traders different space. in the absence of such linkage, then i do not think it affects each other. oil is legal throughout the world, while cryptocurrency has not But i think it's will not give big effects because it's not have relations between crypto and oil
NOthing I guess because btc remains on its value which is so volatile. The only thing will be affected by oil price goes up is the fiat money and other commodities that will going to take a rise also in market price as the government will do the regulation on its market price.
Nothing happen i think. Maybe effects in trading pair between BTC and fiat.
But i think it's will not give big effects because it's not have relations between crypto and oil
But i think it's will not give big effects because it's not have relations between crypto and oil
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 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 prices and cryptocurrency is not connected but as of today, the market prices is slowly pumping since it run very low for too long and people are starting to invest again.
Yes, how can people compare with the Oil and i think there is no relation with the Bitcoin and Oil. Cryptocurrency is a completely different concept which we don't have any relation with the Oil but slowly the price of cryptocurrency are answering along with the Bitcoin.
I honestly don't see any connection to Bitcoin in this case, and if the prices of both responded similarly in some ways previously, it's likely coincidence. I might have missed something fundamentally, but that's my opinion.
PetroCoin (MaduroCoin) however will benefit from an increasing oil price, so I assume that the investors and backers of this governmental garbage will happily look forward to what the future brings.
I'm interested in reading your theory. If it's convincing and makes me look at the situation differently in terms of Bitcoin, I will Merit your theory.
To the best I know and think for now, there is no connection what so ever between bitcoin and oil. The only thing that may happen is, when oil price goes up that much, there will be more money in the system thereby, more investors may come in to invest in bitcoin which will drive the price up PetroCoin (MaduroCoin) however will benefit from an increasing oil price, so I assume that the investors and backers of this governmental garbage will happily look forward to what the future brings.
I'm interested in reading your theory. If it's convincing and makes me look at the situation differently in terms of Bitcoin, I will Merit your theory.
I think there is no connection between bitcoin and oil prices. Some other commodities and services that uses petroleum products has an effect on the oil prices but not cryptocurrencies.
I don't think there's a relationship between the progress of bitcoin and oil it's because they are different type of assets where BTC is defined as an intangible one and in contrast to the other one. But if a certain crypto that is backed by an oil will be recognized just like the Venezuelan Petro crypto will make some noise in the cryptoworld, then probably it can affect bitcoin's value.
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 am curious about your technical analysis and theoryI 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?
because so far bitcoin has nothing to do with oil prices or other mining prices such as silver and iron
I think it's not very influential. because bitcoin is less influential on world economic conditions and prices on bitcoin are also stand-alone, unrelated to any circumstances or circumstances.
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