What happnes to BTC,if the oil price goes up? - page 20.

The Sceptical Chymist

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Quote from: BitHodler on May 24, 2018, 08:31:39 AM

I honestly don't see any connection to Bitcoin in this case

I don't think there's a correlation between bitcoin and oil, either, but this would make for an interesting econometrics project. They have software programs where you input data on any economic variable you could ever think of, and it spits out statistics on correlation and so forth. It's not my field, but I did take a course in college some years back that dealt with this--and bitcoin was not around yet.

It's one thing to discuss an issue like this and give our opinions on it, but it's much better when there's hard data. Bitcoin doesn't seem to correlate with much, just from me eyeballing the financial page every day but I could be wrong about that. I highly doubt it tracks oil, though.

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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?

Honestly, I do not see any relation between the Bitcoin price surge and the rise of the oil price in the world market because Bitcoin is a virtual currency that is not related on the issue of the oil price hike because I believe that these two are different objects that do not have that certain connection toward each other. Since there is no such connection is associated between Bitcoin and rhe oil price hike, there will be no such effect to take over on the price of Bitcoin.

Piesel

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well, honestly, I believe that bitcoin has nothing to do with oil. Oil is full and it can be touched while bitcoin is a type of currency which bases on the cyber network. Therefore, bitcoin can not be impacted by this kind of assets. I think that if the oil price goes down, bitcoin will go up. But bitcoin never go down if the oil price goes down

charlzyeby

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Bitcoin price is independent of the economic downturn or any economic upheaval world wide. Bitcoin depends solely on demand and supply. Maybe the rise of oil may cause people to spend less and thus people may not be willing to buy more btc because of this economic situation. But I don't see any direct link between btc and oil prices.

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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.

Well this is what I think both has different demands and supply. And different circulating supply so market may suddenly turns green and red the more adaptions take place price could surges up.

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Quote from: act now on May 24, 2018, 09:03:28 AM

To be honest, I do not see any correlation between the price of bitcoin and the price of oil. 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.

They are unrelated to each other, the price of oil is a separation from the BTC, BTC depends on the supply and demand on the market, they are now affected by more government factors, not sticking. The rise or fall in oil prices of the world.

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I do not think that there will be any relation of both of them but still we can expect something related to it. I heard from a person that when the economy of western countries goes better then the price of it increases. But still I think the oil price will not affect it. Or maybe it will also be possible that the price of bitcoin will also increase if the price of oil will increase.

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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 think so.

If oil price go up, USD price go down, if USD go down, BTC and other currencies gou UP.

But its not only one factor for price prediction

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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.

AnisahSiti

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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.

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Quote from: frowsiter on June 03, 2018, 02:04:30 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?

Basically nothing will happen to the world of crypto currency and thus the BTC prices will behave the normal way only. There is simple logic behind all this, when crypot currencies are fluctuating in their values then it is the result of decisions made on the BTC throughout the world, how much volume is inflow and outflow from the market, whether stocks being sold for the cryptos etc etc. These are directly linked and thats why they affect it. However changes in the oil is completely different chain of command and thats why it will never affect the BTC.

I agree that the correlation maybe virtually undetectable but not because there is no connection as such between the price of crude oil and cryptocurrency prices. Everything is tied and linked with each other in the financial world and the world of investments. It is this way simply because people who are investing in stocks may also be investing in crude oil market derivatives and cryptocurrencies as well. So we can't really say there is complete lack of connection. With that said, though, this connection is by far overwhelmed and canceled out by sheer volatility of cryptocurrencies due to reasons which have actually nothing to do with oil prices.

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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?

This does not affect bitcoin in anyway; neither do I see how they are correlated. The increase in oil prices is pretties much going to have an impact in the world economy and there is no doubt about that, nevertheless, bitcoin is a decentralized currency and really does not have anything to do.

Oil is a market on its own with a lot of usefulness and the price is moved basically by the demand for it, and the same thing applies to bitcoin and the only thing I see that makes them the same, is that they are both markets but totally different in form and features.

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Quote from: maculeth on June 02, 2018, 11:40:03 PM

when oil prices rise, it will affect the economy around the world. but not with crypto, from the start crypto stands alone and is not bound by anything. when the price of crypto rises or falls, in fact is not influenced by anything except the supply factor and demands them.

The change in the oil prices has nothing to do with the market value of the crypto coins as there is no such relation in between both things. The only thing which can affect the market value of the bitcoin and rest of the digital coins is the increase or decrease in the demand rate of these crypto coins in the international market and that rest any other thing hardly effects their market value.

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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 think this is mostly irrelevant as oil prices are unlikely to rise over 100 dollars per barrel unless the dollar devalues to the floor, which is also unlikely. There may be short surges but as more and more oil rigs come online in the US, that will exert a massive downward pressure on oil prices. Anyway, Bitcoin's volatility will exceed whatever crude oil prices could climb to, so the relationship or even some form of correlation, either negative or positive, will be hard to establish.

JoshMart

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Personally, I do not see any connection of the price of oil going up would affect the price of Bitcoin. What I know is that, the price of Bitcoin is based mostly on the interest and demand of the people on it. the higher the demand and interest of people, the higher the Bitcoin price will be. I think the oil price going up would have some correlation to the price of fiat money but not to Bitcoin price.

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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?

No connection at all. The market for oil is different in crypto market so it won't affect its price as well. There's a possibility that it will if oil investors will invest their money in bitcoin and suddenly pulls out their investment.

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Quote from: Barcode_ on June 03, 2018, 01:15:30 PM

I don't think there is any connections between crypto-currencies and the oil prices in the trading market, it is totally two different trading markets, so I would not be extremely worried about the news in the oil industry affecting the prices of bitcoin.

There is indeed no corellation between the two at all, When Oil prices rises goes it increases the wealth of the Oil producing countries whiles when Bitcoin goes up it increases the profits of the investors.

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I don't think there is any connections between crypto-currencies and the oil prices in the trading market, it is totally two different trading markets, so I would not be extremely worried about the news in the oil industry affecting the prices of bitcoin.

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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?

The question was too irrelevant into bitcoin, in short it has no connection with it, isn't? Because Bitcoin is a virtual or digital currency, while oil

price is not a digital currency but its a kind of products literally where you can touch it or what while Bitcoin is not. Though you can sell oil and

become money according the country you belong.

Rajamuda

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Still haven't seen it has anything to do with crypto. It's more directed to the real world and not to the cyberspace (crypto). Crypto is more vulnerable to be influenced by interest+trust, it's different case with oil.. that only affects the life of the human economy in responding to its daily needs in their secondary needs.

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