What happnes to BTC,if the oil price goes up? - page 17.

FADI1

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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?

Frankly speaking I don't really see how the price of bitcoin can be directly affected with the price of oil.

Daseento

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I honestly doubt if there's a direct correlation between the price of oil and bitcoin as they aren't in the same sector of the economy. Price determinant for btc have always been either increase or decrease in demand or positive and negative news.

MMA

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Quote from: ucingucingan on June 09, 2018, 08:58:18 AM

maybe it will make bitcoin prices also rise, because to make bitcoin required a large enough electricity and most of the electricity production is still using oil for power generation machines, so I think the price of bitcoin is influenced by the price of oil

Bitcoin is an online currency, a decentralized and having same value everywhere, therefore i personally do not think that the oil price will effect bitcoin too much. i am sure that even if the oil price is increasing or decreasing, bitcoin will be trading in its normal routine and we will never see any special change in bitcoin price.

agiskasep

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As far as i know altcoin price up is depends on bitcoin too, so if altcoin grow,bitcoin is already go up

bintangkejoraku

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https://saturn.black

in my opinion there is no relation whatsoever between rising oil prices with bitcoin prices, they have no relation to each other.

waqasniaz007

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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 link of bitcoin with oil prices because oil is trading in usd not in btc. Bitcoin has its own value.

tee-rex

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Quote from: Opnsrc on June 10, 2018, 02:41:31 PM

Quote from: chel0 on June 05, 2018, 04:52:10 PM

Quote from: AnisahSiti on June 05, 2018, 03:35:36 PM

if oil price up, this case will not effect to Bitcoin. Both have not correlation, and has different market cap. Supply and demand is the things will effect in Bitcoin price.

Yes right.I don't see any connection regarding this matter.Both are independent with each other.It is purely based on demand and supply that affects bitcoin value.It might have impact economically but as for me,it has nothing to do with cryptocurrency prices.

I am also very curious: why do people seek for some connection between the digital money and the oil? OK, I understand 50% of the USA electricity comes from the oil but still there is no visual reason here...

Well, I think I can throw some light on this matter. Oil has been slowly rising recently, so people are eagerly looking for reasons why cryptocurrencies should rise along with it too. In other words, if someone tells or claims there is a connection after all between oil and Bitcoin prices (positive correlation, to be precise), then people will feel reassured in their cryptocurrency investments. That will give them a feeling of wellbeing, if you please.

I hope this explains it pretty well why such questions arise.

Opnsrc

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Quote from: chel0 on June 05, 2018, 04:52:10 PM

Quote from: AnisahSiti on June 05, 2018, 03:35:36 PM

if oil price up, this case will not effect to Bitcoin. Both have not correlation, and has different market cap. Supply and demand is the things will effect in Bitcoin price.

Yes right.I don't see any connection regarding this matter.Both are independent with each other.It is purely based on demand and supply that affects bitcoin value.It might have impact economically but as for me,it has nothing to do with cryptocurrency prices.

I am also very curious: why do people seek for some connection between the digital money and the oil? OK, I understand 50% of the USA electricity comes from the oil but still there is no visual reason here...

Lucilfer

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Quote from: ucingucingan on June 09, 2018, 08:58:18 AM

maybe it will make bitcoin prices also rise, because to make bitcoin required a large enough electricity and most of the electricity production is still using oil for power generation machines, so I think the price of bitcoin is influenced by the price of oil

no i guess that was the other way around. i can also see that it is irrelevant that when the oil price rise up, bitcoin price also rises up, and i kinda disagree your opinion about machines being powered by oil, because as far as i can see and we can even notice that, bitcoin was using electricity and much more requirement is the internet, both of them are the basic necessity when it comes to this and oil doesn't seem to have contribution about them.

ucingucingan

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maybe it will make bitcoin prices also rise, because to make bitcoin required a large enough electricity and most of the electricity production is still using oil for power generation machines, so I think the price of bitcoin is influenced by the price of oil

annango

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Quote from: HatakeKakashi on May 26, 2018, 07:36:11 AM

Oil and bitcoin is not connected to each other I think. Bitcoin is online and that's digital while oil is offline marketing. If the price of oil decreasing or increasing I don't think bitcoin can affect from th emovement from the oil price.

That’s right! Oil and bitcoin are different as night and day, there is no relation with each other. It goes without saying that bitcoin is a digital currency which is on the internet, especially people enter bitcoin market to get benefit . On contrary, oil is just a commodity, a supply for human being in day activity . And as you know that oil price has a rise probably because the mode of production or technique is getting highly improve. In general, oil price does not take any impact to bitcoin market.

jayar_cabaltera17

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For me there's no effect if the oil price hike because Bitcoin is almost illogical to bitcoin for me there's no effect the oil is not totally involve when you do mining for me there's no problem about that issue

Vness10

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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 and oil are connected to each other because oil is basing to world market and bitcoin is on crypto market they are not connected. So even the oil will go high it will not affect to bitcoin.

doomloop

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Quote from: ict on June 08, 2018, 05:28:23 AM

cryptocurrent still crypto. i mean there are nothing happen to cryptocurrent, unless all of government sell or buy the oil with cryptocurrent.
in a fact, until now, bitcoin price affected by demand of market, maybe from news, and government moves.

If the oil prices go up, people would have to save money to buy oil. The money which previously was there for investment in Bitcoin is now spent on oil. The demand for Bitcoin will decline and as a result, the prices of Bitcoin will also drop down therefore verifying the law of demand. This shows that the prices of bitcoin are flexible to the fall in demand for Bitcoin.

htconem7

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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 recent days, the price of bitocin and altocin has been continuously decreasing, the continuous adjustment of bitcoin prices has made the price of altcoin continue to decrease deeply and without signs. recovery. I believe that at this point you should not trade for the market to be more stable to start trading, the risk will be lower.

Naughty Princess

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Quote from: PHPSELLER on June 07, 2018, 09:54:54 AM

Quote from: Hovhannes on June 07, 2018, 09:45:56 AM

I think that all sectors of the economy are interrelated, and the rise in oil prices may have some impact on the cryptocurrency market.

Honestly, I don't think that both of them are related, but from an economic point of view maybe they can be related. As you said, I think of the rise in oil prices, maybe it can affect the crypto market and bitcoin can rise, I am sure that what will happen in the future, bitcoin and oil prices will increase too much as the demand is higher later.

I think the price of oil, even gets high, has nothing to do with the price of bitcoin because price of bitcoin depends on how high the demand and how limited the supply is to change the price in the market. Though both has something to do with the economy of one country because they contribute in it and both the market circulation is being matter why the price changes.

KourtneyK

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I don't see any connection with Bitcoin and the oil prices but maybe if there is, if people will have less money because the oil price gets up then most probably the buying of bitcoin lessens as well because of it. But other than that, I really dont see and difference in price if the oil goes up and down.

Agamatal123

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increase in oil price.
when we are talking about economy it deal with oil. but i don't see why increase in oil will affect Bitcoins. crytocurency is marge to increase of oil.

AK47-

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I don't think the price of Bitcoin is in any way related to the price of OIL. No matter what happens to the OIL prices, bitcoin price won't change. The same happens in the case of Share market too. No effect on it as well unless there is a major variation in price.
The price of Bitcoin and cryptos are only dependent on news, rumors and FUDs.

Aamir1

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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 a lot different from oil, and it has nothing to do with it. Whenever you invest into Bitcoin, it has no influence in oil industries or whatsoever and the same thing applies to when you’re investing in oil. Whenever the price of Bitcoin falls, it doesn’t have any effect on oil prices and when oil prices falls, nothing happens to Bitcoin, because there are different investors investing differently in them.

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