Topic: What happnes to BTC,if the oil price goes up? - page 24. (Read 2485 times)
I do not think there is a relationship between them. oil and bitcoin have different markets, bitcoin prices fluctuate but oil prices tend to rise.
What happens to Bitcoin when agricultural products go up in price?
It has become some sort of a hype where everything that goes up or down in value affects Bitcoin in whatever shape or form. In the same way that people think an increasing or decreasing Bitcoin price must be the result of a positive or negative event. In order to actually find out whether or not it affects Bitcoin's market, it has to be affecting it consistently. If it happened just once or twice then there is nothing of value to gain. Once Bitcoin's market and ecosystem has matured enough, its fluctuations will start to affect other industries. It will no longer be what will happen with Bitcoin if this or that industry experiences a boost, but what happens other industries when Bitcoin experiences a boost.
It has become some sort of a hype where everything that goes up or down in value affects Bitcoin in whatever shape or form. In the same way that people think an increasing or decreasing Bitcoin price must be the result of a positive or negative event. In order to actually find out whether or not it affects Bitcoin's market, it has to be affecting it consistently. If it happened just once or twice then there is nothing of value to gain. Once Bitcoin's market and ecosystem has matured enough, its fluctuations will start to affect other industries. It will no longer be what will happen with Bitcoin if this or that industry experiences a boost, but what happens other industries when Bitcoin experiences a boost.
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?
What is the connection between bitcoin and the oil industry? Businesses are paying oil not buy bitcoin but by fiat currency. Bitcoin will stay as virtual currency and it will be affected by the high price of oil.
i do not think any sort of commodity will affect bitcoin's price because there are lot of them and no one of them has came any closer to bitcoin. Nowadays people can exchange their bitcoins with anything or any service they want you can even get hotties with it. Some people like to save their coins and some like to invest but oil is mostly invested and i don't see any sort of links to bitcoin which can change its price ever.
Higher oil prices will lead to increased electricity costs hitting the miners a little harder.
If so, why didn't lower oil prices lead to lower electricity costs? The oil price crashed like there was no tomorrow and the electricity costs remained as they were, where in some cases the electricity costs have gone up slightly.
If we look at things from a wider perspective, every asset or industry that's not directly correlated to Bitcoin can still affect its market in certain ways. The main point however remains that it will likely be via an alternative route. In other words, increase in oil price leads to X to gain value, where X makes sure Y gains value, and because of Y gaining value it affects Bitcoin too. It's like a domino effect.
Everything with fundamental impact value has the potential to shake things up. Oil has that fundamental impact value.
Is there any connection with the price of the oil? Bitcoin to some countries are not required to pay taxes so I don't think that there is an effect on it, it is not something just like what is normal happening now that if the oil increases the price of goods and commodities are also increasing in value.
it seems that there will be no effect on bitcoin if oil goes up in value because it has nothing to do at all. and bitcoin can rise in value it depends on the user. as more and more use bitcoin the bitcoin is also quicker to increase its value 
It's just a coincidence, when oil price increased as it's now and bitcoin price goes down, through I have not seen any correlation that would cause the price of cryptocurrency to decrease if the oil price goes up and otherwise.
If you have other though the correlation oil price can influenced cryptocurrency price with my pleasure I will read and understand it because this is something new that I have not understood in cryptocurrency. As long as I have been here I never read any information about it, be it at ccn.com, cointelegraph.com and other sources related to cryptocurrency.
If you have other though the correlation oil price can influenced cryptocurrency price with my pleasure I will read and understand it because this is something new that I have not understood in cryptocurrency. As long as I have been here I never read any information about it, be it at ccn.com, cointelegraph.com and other sources related to cryptocurrency.
Well like the majority of the users that expressed their opinion, if not all until now, I don't really see a connection between the two. They are two entirely different assets, and bitcoin is still to small to have any real impact on our economy. Oil on the other hand will have a huge impact if it keeps going up.
The only think I can see, for the future, and this is really not likely, is that the oil price goes up a lot, and starts crashing the economy on some countries that will have trouble importing oil. If a crash happens, it's probably likely that the bitcoin price will go up, because people will buy it, in the hopes of keeping their economies safe.
I would like to hear your opinion about it though, since you said you had some ideas.
The only think I can see, for the future, and this is really not likely, is that the oil price goes up a lot, and starts crashing the economy on some countries that will have trouble importing oil. If a crash happens, it's probably likely that the bitcoin price will go up, because people will buy it, in the hopes of keeping their economies safe.
I would like to hear your opinion about it though, since you said you had some ideas.
I can't think of any relevance to oil's price increase to cryptocurrencies price so probably it will not affect in any other way. The connection of oil to the world economy has no connection to the way the price in the market changes so I would love to hear your theories about the connection between those two.
Is there any connection with the price of the oil? Bitcoin to some countries are not required to pay taxes so I don't think that there is an effect on it, it is not something just like what is normal happening now that if the oil increases the price of goods and commodities are also increasing in value.
If they have huge money apart from monthly expenses,they will inverse in crypto currency.If the price of oil is increased,it will reduce the people monthly savings.So indirectly it will impact the investments in crypto currency including bitcoin.When the price of oil is decrease,may be the investments in bitcoin increase.
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.
I honestly don't see any connection to Bitcoin in this case, and if the prices of both responded similarly in some ways previously, it's likely coincidence. I might have missed something fundamentally, but that's my opinion.
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'm interested in reading your theory. If it's convincing and makes me look at the situation differently in terms of Bitcoin, I will Merit your theory.
It does have a big connection, allow me to give you a scenario where oil price hikes are the main contributors of commodities increasing in prices. Because as of right now majority of the world depends on oil as cargo ships, passenger airplanes, delivery trucks all of those machines needs oil and if these companies are affected by the price increase of oil it will lead to an increase in their product to compensate with the oil price hike. An increase in product cost will lead to an increase in daily living expense which of course will lead to some cryptocurrency holder liquidating their crypto assets for Fiat. And now we arrive to a conclusion that Oil Price Hikes may decrease the value of Bitcoin. Think of it as a recession where all assets are down as everyone is liquidating in order to have fiat. 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'm interested in reading your theory. If it's convincing and makes me look at the situation differently in terms of Bitcoin, I will Merit your theory.
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?
From my point of view, I do not see any connection between the oil price high and bitcoin price. Somehow, they are similar because both of them are unstable and volatility. The oil price high is affecting the fiat currency of the country and the gasoline price become high so that the consumer is demanding for its. While the bitcoin price is depending in the market when it will be dropping down or become high.
So I do not see any economic effect between to the price of oil and cryptocurrency, We knew that oil price has a big impact in the economy and cryptocurrency is just starting in the industry.
Hm, it is a difficult question. I don't think that the influence will be really crucial but maybe this will play a certain role and the price of BTC will grow as well. but it may not happen as well we will see soon
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 there is really no connection between oil and bitcoin. So I think the fluctuation of the price of oil wont affect BTC at all. 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 see any connection. why should it influence the bitcoin price? I don't know as I m not expert but to my mind this will not make any difference to BTC. I think that it will show great potential very soon
Even most of members there is no connection between these both but I think we have some because in many countries electricity connected to Oil so its going to hurt this and miners fees going to increase just because of this its going to hurt bitcoin price as well so high oil meaning low price in bitcoin
actually I am not very familiar with this situation, but if I may express an opinion on this matter that if the world oil price rises it will affect the world of crypto and bitcoin, but I think this influence is a good influence, so that with the increase in oil prices, the more people who will invest with this bitcoin, this is my opinion
Higher oil prices will lead to increased electricity costs hitting the miners a little harder.
Jump to: