What happnes to BTC,if the oil price goes up? - page 15.

Findingnemo

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Quote from: microwave on June 17, 2018, 03:59:29 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?

Bitcoin is not connected to oil price high. The only affected is economy in small country like here in the Philippines. If that happen oil price value become higher than the price now, all filipino people suffered the the high price value of any kinds of goods, foods and all merchandise are going high price value so I hope it will stable in a low value of dollar.

Yes there is no connection between crypto currencies are you and also because he had no connection between any other country are any other state terminal so there is no changes will happen if the bitcoin files are the high-end goes up the only connection is this changes in that country.

icoprofits

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bitcoin is no way related to oil prices and gold and silver prices and much more importantly bitcoin is related to adoption of blockchain and government positive attitude towards bitcoin

lordmick

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You can simply create a correlation-regression equation and solve it. I'm sure you will not find any connection between Bitcoin's price and oil prices. The price of Bitcoin is likely to be more correlated with the US dollar index.

alfs75

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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 thinks there is nothing much affected into the situation of cryptocurrency investment when the oil price value going to high,and i feel it now in my own country,because in real life im also a motorist and at the same time a cryptocurrency enthusiastic,actualy i dont know if theres much affected in the other countries when the oil price value is going to hike high and maybe the digital currency investment also on there homeland going up or vice versa,but here in my own country cyptocurrency is no connection in oil price hike.

napi

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when bitcoin price rises then what will happen with bitcoin it seems that bitcoin volume will increase and bitcoin transactions will become very crowded and bitcoin will be difficult to obtain.

Thanasis

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Quote from: bitbunnny on June 17, 2018, 08:38:48 AM

First of all I don't see any connection between Bitcoin and oil in any segment and there is no mutual influence whatsoever.
Bitcoin or cryptocurrencies are not connected with oil market and the price of Bitcoin is defined by crypto market, the demand and supply.
It seems that every time when the Bitcoin price goes down people try to find some unbelivable causes and patterns that makes no sense at all. I think this is because of ignorance and lack of experience.

Yes,why they are comparing bitcoin with oil barrels. Roll Eyes

Media reviews about the crypto currencies are the most important factor on deciding the bitcoin prices.So other things happening around the world may not have a big part in the crypto currency field.

Kate Beckett

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If we look at the graphs of the bitcoin and Brent prices, we can see a correlation: if the price of oil is rising, then bitcoin grows, if the price of oil falls, then bitcoin falls, although the volatility of the bitcoin course is much greater than the volatility of the oil price. This means that bitcoin is highly dependent on oil prices, that is, apparently, large volumes of oil are sold for bitcoins.

bitbunnny

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First of all I don't see any connection between Bitcoin and oil in any segment and there is no mutual influence whatsoever.
Bitcoin or cryptocurrencies are not connected with oil market and the price of Bitcoin is defined by crypto market, the demand and supply.
It seems that every time when the Bitcoin price goes down people try to find some unbelivable causes and patterns that makes no sense at all. I think this is because of ignorance and lack of experience.

Bakemat

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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?

In my own opinion, the price of bitcoins will not be affected by the increase of oil price because the value of cryptocurrency is depending on the demand and supply in the market and fud as well that can actually dump the price of cryptocurrency if people will start to reject bitcoins.

weeklyeth

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as of today, crude oil prices are also fluctuating bitcoin is no way related to socio-economic events bitcoin is more dependent on blockchain news and adoption

renz0

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Definitely,when the oil goes up,it has nothing to do with the price of bitcoin.Bitcoin price basically depends on supply and demand in the market.So whatever the price of oil it may goes up or down, bitcoin is not actually affected.

Rosilito

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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?

Is there a connection between the two? Well it would have once btc would be the payment for an oil exchange. It is somehow good on the other side. Why? Because once the oil per barrel price goes up it would downgrade the bitcoin value, then, it would giveway the chance for bitcoin price to goes up too, you get my point? Well that is only my merw theory though, I ain't sure if that is how things will go.

Realistmoon

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I don't see any connection. why should it influence the bitcoin price? I don't know as I m not expert but to my mind this will not make any difference to BTC. I think that it will show great potential very soon

microwave

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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?

Bitcoin is not connected to oil price high. The only affected is economy in small country like here in the Philippines. If that happen oil price value become higher than the price now, all filipino people suffered the the high price value of any kinds of goods, foods and all merchandise are going high price value so I hope it will stable in a low value of dollar.

kenharry

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In as much as prices of Bitcoin and crude oil are not related, there is a slight influence an upward rise in price of crude oil which is energy has on commodities, including bitcoin. Just like Gold, an increase in its value will cause an increase in prices generally.When the economy is reflated inflation will set in to mop up the excess liquidity.

Vlack

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When the price of oil goes up then people have less money to buy goods, and people have to jack up prices. So less money to go around, so yeah, it can affect the amount people spend on everything, including cryptos.

marcous

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I think it has nothing to do with oil prices, if seen from the previous history even bitcoin prices increased dramatically last year purely because of more and more demand with bitcoin supply that only 21 million.

Choii

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I don't know what will happend if the price of the oil goes up because if you can see between oil and bitcoin there's no connection, only fiat currency that affect if the oil price goes up or down but in crypto i think no.

redsap

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i think there is no connection with it, either bitcoin was using so much electricity source but not all need with an electric using by oil power, many kind of it too
oil price are rising because many people are using any of cars and gas

MiXxe

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At first glance, we will surely not be able to understand the relationship of bitcoin and the oil price. But I think, when oil price hikes, everything will be affected, including the bitcoin value. Why? Because although we do not use any transportation for this, we use internet. Another one is that, everything depends on the oil because it has a lot of uses in this generation. For every kind of industry, oil is needed directly or indirectly.

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