Topic: What happnes to BTC,if the oil price goes up? - page 23. (Read 2485 times)
We all know that oil is one of the prime necessity of the world. Just in case if the demand of oil increases, it means it will it increase its price as it is needed daily. If the price of it increase, others would react to it. Let's for example. A person who invest into crypto and at the same time uses a machine in it's everyday life (which is where the oil is needed), then it would affect (Depending on the person) his investment plan in crypto because he need to add more into oil. That's how I see the relationship between oil and BTC.
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 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 don't think oil's price can affect cryptocurrency. So, we saw in the past that when price of oil increase, Bitcoin's price is also go up with it and on the contrary.
There will nothing happening to bitcoin if the oil price goes up. Oil and bitcoin are different to each other. One is fuel, which can be touched, used in the real world while bitcoin is based on the cyber network in which we can not touch it.
Unless you're using your bitcoin as gas money I cannot see any relation between the two. Even if the oil goes up by that margin you wouldn't see anyone cashing out their bitcoins to buy barrels of oil. It does not even affect the stock market that much.
It may not affect bitcoin at all or make the prices higher, but there is almost no way this would cause the prices to go down.
Been reading news lately and didn't find any correlation between bitcoin's dollar value and oil price. What's interesting to me however, is the news that says bitcoin's value is more correlated to the spectators' feelings or sentiments, with no correlation whatsoever with the other indicators.
Nothing happens with bitcoin because the price of oil does not affect the price of the cryptocurrency.
PetroCoin (MaduroCoin) however will benefit from an increasing oil price, so I assume that the investors and backers of this governmental garbage will happily look forward to what the future brings.
i dont think bitcoin is going to be affected by any price change in oil. Crypto market is still looks like independed and is not under pressure of other financial items. but maybe in the future things may change and people would like to shift their money to crypto market from other markets
Uhm.. i don't know about the correlation of crypto currencies and oil prices. Maybe if BTCs have stakes in that kind of business. But i think that crypto currencies that are directly using it may feel a bit movement but then again we are talking about currencies here. The value of the currency is from its supply not the price of the goods they exchange for.
Higher oil prices will lead to increased electricity costs hitting the miners a little harder.
Yes, that's probably the only sensible explanation. The increase in the costs of miners may increase if price of electricity increases. Otherwise, I do not see the relationship between price of oil and price of bitcoin.
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 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?
Dont know what others are thinking here but logically there is no impact of the outside commodities on the bitcoin value or the crypto currencies. They are both different assets and it may just affect the stock exchanges on which it runs really but not the crypto exchanges. These are independent of the things happening with the commodities that are out there as the trade that is taking place is between two countries, their currencies, and government evaluation and demand-supply stuff. There is no single point where crypto currency comes in here.
Not unless BTC has a direct project in the oil market and it is it's only project. Or BTC is heavily reliant to OIL to cover it's matker value then I don't think OIL prices will be relevant to BTC. I still believe that the prices of BTC and crypto currencies are still heavily reliant on the supply of the coin itself in the market. So just hold on to your coins.
When the price of oil is increased, it will impact on the Electricity.If the electricity price increase ,it will reduce the mining.Finally it impact the price of bitcoin.Other than this I don't think any impact on the price of bitcoin. Not only price of oil is increasing, the price of all commodity is increased.
i think it need market correlation analisys.not each people have this knowledge.only some people that have good fundamental knowledge can predict the thing happen to bitcoin if oil price goes up.
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 really do not see any kind of correlation between bitcoin or cryptocurrencies and oil, they are very different assets, one is a digital currency and the other is a natural resource needed for the creation of many products, it will be interesting to read your theory about what kind of connection do you see and how that is going to affect the market of cryptocurrencies. 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 is no effect the increase of fuel price in the market, because bitcoin wasn't used oil. In my knowing the bitcoin require the use of internet connection not oil, so not really affect the price of oil in the market against bitcoin price in the market, bitcoin and oil are not connected to each other.
There's no direct correlation IMO. Oil isn't being used to produce electricity, so it will not increase a typical miner's bill.
Gas stations still don't accept cryptocurrencies, at least most of them don't. Again no impact.
I see a new market opening for Elon Musk. Oil prices go up = greater demand for electric cars. If he starts accepting BTC while the price of oil continues to go up, we'll enter a bull market unseen before
Gas stations still don't accept cryptocurrencies, at least most of them don't. Again no impact.
I see a new market opening for Elon Musk. Oil prices go up = greater demand for electric cars. If he starts accepting BTC while the price of oil continues to go up, we'll enter a bull market unseen before
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 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?
Well, the only corelation I see between bitcoin and oil is that oil used in producing electricity, and bitcoin mining and trading used electricity. However, this will not indicate that once oil price increases, it will affect bitcoin price as well. Maybe on the world market, because oil is one of the basic commodities we need, then if the price goes up, bitcoin may go down.
no relationship at all, except oil can be bought with bitcoin. unstable bitcoin prices can not keep up with a more stable oil price.
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