What happnes to BTC,if the oil price goes up? - page 18.

bennie4

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Quote from: davis196 on May 24, 2018, 07:06:51 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?

You can see that today's bitcoin prices are falling sharply and there are no signs of a recovery, so to be able to trade successfully is very difficult, the market is constantly changing. and is still in a bear market in the long run. The current bitcoin price has been adjusted to $ 7500, according to my analysis, bitcoin prices will continue to rise sharply in the coming days before falling in the long run.

BulbaLord

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What is the connection of oil price to BTC ? I do not know why that question is so I'm looking at it , because they are different .and if Each one goes up or down , I believe they have nothing to do with one another . In short i dont see they have any connection .

tee-rex

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Quote from: xvids on June 07, 2018, 09:07:23 AM

Quote from: davis196 on May 24, 2018, 07:06:51 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?

Why would it affect the price of Bitcoin ?
There is no connection between the two of them,
To be honest I don't really think that it would affect the crypto currency price at all.

The correct answer to this question is it all depends. All in all, it depends on the reasons which are driving the prices of both oil and Bitcoin in either direction. Obviously, these reasons may be completely unrelated and then changes in the prices will be unrelated too. On the other hand, if these forces affect both crude oil and cryptocurrencies at the same (though maybe to a different degree), then we can expect that the prices of these assets will be changing rather in unison.

Did OP share his theory on the question he raised as promised?

Tukang Becak

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Bitcoin will never lose popularity despite the ever-rising gas price, which in turn makes wallet providers eager as rising gas prices will be a huge income for them.

ict

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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.

rocketbits

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Quote from: Ritaaa on June 06, 2018, 01:53:44 AM

I also don't see much of a connection really. Maybe if bitcoin becomes a more global currency that is widely used then mayyybe it could but for now I don't see how it could affect bitcoin.

The price of oil depends on the production and demand, while bitcoin price depends upon the mining, availability and investment cap. As more and more people invest in bitcoin the price increases and when the investment ratio decreases the price also decreases. There is no link between oil and bitcoin. Both are different in range, need and market value.

coinwizard_

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Quote from: davis196 on May 24, 2018, 07:06:51 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?

This is a good question, and one which is rarely asked on this forum. I think it won't have any impact because institutional investors haven't put too much into bitcoin yet, so if they switch to oil, it won't affect the bitcoin price

xvids

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Quote from: davis196 on May 24, 2018, 07:06:51 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?

Why would it affect the price of Bitcoin ?
There is no connection between the two of them,
To be honest I don't really think that it would affect the crypto currency price at all.

Naficopa

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Quote from: PHPSELLER on June 07, 2018, 08:54:54 AM

Quote from: Hovhannes on June 07, 2018, 08:45:56 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.

The increase in the price of oil will not affect the cryptocurrency market. The only connection could be a possible increase in the price of electricity and a possible increase in mining costs. There are probably no other dependencies.

Red Fish

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Oil price can not go up very high, because there are a lot of oil in the world already, so it is may be short to mid term price change. Plus oil price can not affect Bitcoin due to fact that computer/asic hardware makes BTC mining, but not the oil/gas engine. Grin

Chrisjay29

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I think and im not sure on it. Bitcoin will not effect the price of bitcoin even though its goes up. Because the market of oil and bitcoin is too different in the market. And bitcoin also a coin circulating not like oil.

PHPSELLER

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Quote from: Hovhannes on June 07, 2018, 08:45:56 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.

Hovhannes

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

ichai

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Quote from: ejandjm18 on June 06, 2018, 11:14:44 PM

I’ve been reading some sources about this topic and didn’t find any correlation of BTC and oil prices. But i think that crypto currencies that are directly using it may feel a bit movement. The value of the currency is from its supply not the price of the goods they exchange for.

Yes, the correlation between oil price and BTC is absent, he wrote this topic almost 100% out of disagreement, I think he seems to be thinking about something in the market. and to BTC

zakariajaki

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a good topic of conversation, and my opinion as to whether the bitcoin price is affected by the ups and downs of world oil prices in barrels, I do not think that's the case with bitcoin, which I understand and observe the ups and downs of bitcoin affected by the politics of the existence and the folly of bitcoin itself and the second is influenced by the new altcoin that makes the project better than bitcoin, so altcoin is able to be the investor's attention to move from bitcoin, I think crypto big impact the price of ups and downs and the existence of crypto only on government regulations and investors while others have an impact but small effect, may be useful and successful for all of us

Theo222

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i think bitcoin and oil will never be related to each other. bitcoin need electricity because it is digital and we can only use it in computer and cellphones. and theres no existing gadgets that needs oil in order to operate.

stellgod

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Quote from: geopolisch on June 06, 2018, 01:28:21 AM

Quote from: Direwolve735 on May 24, 2018, 10:16:03 AM

Given the statistical data for the last few years, I can say that bitcoin and oil are directly proportional to each other. In 2017 fluctuations in the bitcoin rate were parallel to fluctuations in the cost of oil on the world market. But we can not talk about the direct impact of oil price jumps on the bitcoin rate. None of the products traded on the world market directly affects the price of bitcoin. The cost of bitcoin and oil is correlated as in these industries approximately the same investors.

I read something like this some few days back and there was actually some proof that the guy gave based on the charts. Honestly, I am not sure if this was just a coincidence since I have been trying to see how this two correlates, but such a coincidence was too much.

Let's see how this year is going to be like but I still stick with my theory that they have no correlation and if anything happens at all, it would just be a mere coincidence. After all, oil price have been rising for a while now with bitcoin reducing.

I don’t so because the price of bitcoin also depends upon the investment ratio of the people and is not only proportional to oil price. Oil is the demand of almost everyone in this world because it is no alternate, while bitcoin is a coin business and for investment your money you can chose any sector bitcoin is not necessary. In my opinion both have different directions and there is no link between these two.

ejandjm18

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I’ve been reading some sources about this topic and didn’t find any correlation of BTC and oil prices. But i think that crypto currencies that are directly using it may feel a bit movement. The value of the currency is from its supply not the price of the goods they exchange for.

bangkit tri

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Quote from: popolite11 on June 06, 2018, 10:27:28 AM

Quote from: Lorence.xD on June 06, 2018, 04:16:33 AM

Quote from: Old God on May 24, 2018, 12:25:01 PM

I do not see any directly connections between them, but, i think, if the potential investor will became richer or have more extra cash he will invest into btc, so price will go up, in theory ofc, and oil is limited resource like btc, but, it will end sooner or later.

Bitcoin and Oil is non related to the price, Any increase in price value of Oil affect the commodities involved in oil product,be it in production, utilities,and other related used of oil as to its power need for such company or industries, it does however affect the supply and demands for the economy(possible inflation). Any increase in Bitcoin price does not affect the supply and demand of local commodities, this is a digital crypto currency transaction, decentralized, no relation to Oil commodities in the market.

Yes, nothing will change. There is no single connection between Bitcoin and oil prices. That is why those guys that are in the crypto world may not worry about this problem.

i think oil and bitcoin have nothing to do, but globally there must be a link between them. i think investors are faced with two options to invest. from there it will be split into two if the investor trading both

babaya

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it need intermarket analisys to know what will happen to bitcoin if oil price goes up.only expert in economy macro can analize this case.but i am sure it have effect although not big

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