What happnes to BTC,if the oil price goes up? - page 19.

popolite11

sr. member

Activity: 882

Merit: 250

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.

Bugsbey

newbie

Activity: 182

Merit: 0

Quote from: max fray on May 24, 2018, 09:52:26 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?

The price of bitcoin does not correlate with the oil price in any way.
Neither it depends on the cost of electricity, which is actually generated by coal and gas (and nuclear plants or renewable energy sources to a lesser extent).
So even $150 per barrel would not impact cryptocurrency prices - they depend solely on supply & demand on the market and some political issues like regulation.

Yes you are right fellow. I am not an economist so I cannot really tell exact answer to the question but for me the oil price or whatsover product will not affect the price of the coin. It is just based on the demand and supply of the coins.

DonaldHun

newbie

Activity: 112

Merit: 0

Quote from: Hillthy on June 06, 2018, 09:16:20 AM

Quote from: Nagyyssa on June 06, 2018, 07:48:37 AM

The price of oil and bitcoin is not connected in any way

In terms of economics, I think there are a few correlations and effects. Oil prices increase, the value of rising commodities such as food and water, transportation costs increase, meaning that the economy will be affected by that trend. Value inflation will increase and people will find it difficult to economically save money to space for crypto and bitcoin.

Your thoughts are reasonable but I do not think it can affect much to the value of bitcoin and the market. Or just an accident and will soon pass. That way, I think the upcoming Worldcup may affect the value of the market. Because it is the largest festival in the world and investors can take advantage of the environment and holidays to make more money.

Shenzou

sr. member

Activity: 1400

Merit: 283

I don't think that bitcoin and the oil price are related in any sort of way, they both have different markets and different investors, oil is something that is essential and with it having a somewhat of a limited price its price is always going to be on the rise, somehow bitcoin works but they both operate on different levels, because people who invest in oil are not the same people who invest in bitcoin.

Hillthy

newbie

Activity: 229

Merit: 0

Quote from: Nagyyssa on June 06, 2018, 07:48:37 AM

The price of oil and bitcoin is not connected in any way

In terms of economics, I think there are a few correlations and effects. Oil prices increase, the value of rising commodities such as food and water, transportation costs increase, meaning that the economy will be affected by that trend. Value inflation will increase and people will find it difficult to economically save money to space for crypto and bitcoin.

jovs

sr. member

Activity: 672

Merit: 250

Bitcoin and the price of gas does not have a direct connection to one another. It may just affect the transaction made by people on buying gas or oil through bitcoin transaction and cryptocurrency. It may just reached to price changes on charges yet it does not affect entirely the system of bitcoin in the market.

SaiWAFU

jr. member

Activity: 193

Merit: 1

Bitcoin and oil prices are in different categories. Unless processes of blockchains are concentrated by one individual living in a country that electricity is generated from oil/gas. Then maybe it can have connections, but still I can't see it directly affecting each other prices.

Share your theory and enlighten us.

cfif123

sr. member

Activity: 532

Merit: 250

because the bitcoin and oil have nothing to do with rising bitcoin prices or oil prices and no effect

jeluhtajem

member

Activity: 252

Merit: 10

I think, it has absolutely nothing to do,
between soaring oil prices and bitcoin prices.
they are much different, and do not affect each other. Undecided

Nagyyssa

newbie

Activity: 34

Merit: 0

The price of oil and bitcoin is not connected in any way

weiweianll

newbie

Activity: 168

Merit: 0

Oil and BTC seem to have nothing to do!
Maybe Venezuela's petroleum coin PETRO, and BTC can be connected!
PETRO is, in fact, a wandering trick that Venezuela has come up with. The clever point lies in the combination of digital cryptocurrency as the new gimmick!

Lorence.xD

sr. member

Activity: 1624

Merit: 315

Leading Crypto Sports Betting & Casino Platform

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.

Beymax08

member

Activity: 130

Merit: 10

Well there is no impact in bitcoin if oil price will go up. Oil price is not related in bitcoin or in any cryptocurrencies, it means weather the price of oil will go up or goes down cryptocurrencies will not be affected.

Persiville

member

Activity: 144

Merit: 10

Earn with impressio.io

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.

Yeah same here. I have also read some article about this one, but it is hard to believe and i am still not convinced. A part of me also was curious if is it really true that they are related, because technically there is no connection between those two, but it seems that some rumors are true about this. I'll be keeping an eye also on the 3rd quarter of the year, if something might happen as a mere coincidence just like last year.

HaroldFinch

newbie

Activity: 99

Merit: 0

I personally see no connection at all. The countries that influence the price of Bitcoin most of all, and so have lots of users, are the US, Japan, China, UK, Germany and so on.
None of them are dependant on oil export, so there can be only some connection to inner economical situation there

feehannah

jr. member

Activity: 192

Merit: 3

In my own opinion,there's no connection between the bitcoin and oil price hike. Only i know,bitcoin is continuosly helping so many people,while the governments has a capability and authority to seattle the oil price hike problem.

iram1011

hero member

Activity: 896

Merit: 521

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?

There is a term called Random Walk. What it states that every stock in the world is just dependent on major news surrounding it and past trends have nothing to do with the fluctuation in prices. That is the major reason why major active fund dealers fail at predicting the price correctly on most occasions. Market also follows the principle of Informational efficiency.
What it tells us is that no one knows how the price of a stock or a coin is being controlled. Entire market works on news. There is nothing else that controls the price.
In the same way, price of oil will have no effect on market whatsoever.

Ritaaa

newbie

Activity: 126

Merit: 0

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.

geopolisch

hero member

Activity: 1022

Merit: 511

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.

deppil

hero member

Activity: 1008

Merit: 501

Quote from: AnisahSiti on June 05, 2018, 02:35:36 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.

You are correct I think the two are not related to each other. even though the oil supply is empty it will not have any connection and
influence on the bitcoin itself. so these two markets are not directly related. there is no mutual influence between oil and bitcoin

Topic: What happnes to BTC,if the oil price goes up? - page 19. (Read 2522 times)