What happnes to BTC,if the oil price goes up? - page 3.

Dimas99

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Quote from: BitHodler on May 24, 2018, 07:31:39 AM

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.

Your opinion is actually oil prices have nothing to do with the price of bitcoin or other crypto currencies but the price of bitcoin will be vulnerable and easy to change if there are problems in the world economy

novokovskitve

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and as the bitcoin depends on oil. in my opinion is a currency which does not depend on others and it is not tied to them. seemingly for this purpose it is also created. Fiat - yes, is undoubtedly connected, and bitcoin at what here.

jaja colleen

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Bitcoin is digital money and it does not use oil so I did not see any impact if the oil price increases,the only affected if the oil price goes up is our daily commodities which uses oil because it definitely they will increase it's price.

zhanyiguai261315

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Activity: 392

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What is the relationship between rising oil prices and cryptocurrency relations!
This is something that the real economy should consider!
I observed the data and found that the price of oil has risen and there is no connection between the land and the cryptocurrency!
Now that oil prices are falling, the cryptocurrency is still falling!

katerinaliisa

jr. member

Activity: 378

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I do not see any connection between oil prices and cryptocurrency prices. The price of cryptocurrencies may not change due to the increase in the price of oil. The fact is that after the increase in the price of oil, the global economy itself will begin to change rapidly and since cryptocurrencies are partially involved in trade relations, the costs will increase in any case.

Olaiasal11

copper member

Activity: 267

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The price of oil and oil prices in the global market is based on the principal reason for the stock. When oil reserves are high, the market price decreases. And when the stock is low, the price increases. The dollar is used to buy oil sold in the world. There is no connection between btc and there will be no impact on btc if oil price increases.

STT

legendary

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Quote from: Portia12 on September 08, 2018, 10:37:48 AM

In my own opinion, the price of the oil does not affect cryptocurrency because they did not share the same industry as well as the market prices.

Theres a relation just because they both use energy and so are in some competetion for use of resources from that. It leads to costs vs profitability on the market exchange price. Just like an airline will put up prices when oil rises, because it impacts their margins fairly directly.

BTC isnt a jet engine turbine setup most of the time but being 24/7 means its considered fairly energy intensive, there is the option of alternatives to oil since flight is not required. Its fairly important to secure solar, hydro or wind power for BTC mining I think so isolate this link to rising costs in an economy.

RIght this moment oil has been falling so not much pressure presently. I have no doubt oil prices rises, doubles in the next decade if only due from inflation occuring

PlusOne88

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Well based on the idea that bitcoin is more like just a digital version of money it is for certain that it may be affected by changes in values. We buy bitcoin from the money that we have and therefore must in the same way must be affected as well. There is a bit of a difference though and this is in the idea that bitcoin is also connected to the demands which makes it easy to move up above the current value of the physical money. But it is always affected by money and the physical economy.

rosemary4u

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Activity: 392

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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?

I don't see any direct connection between bitcoin and the oil industry. We can talk about how the rise in electricity tarrifs affect bitcoin mining and consequently affect bitcoin. In general, the oil Industry affects a lot of stuffs around us, and this is what I have realised.

Rauxanhinu

newbie

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When oil price changes the prices of whole commodities changes. When people have more money then will invest more and when they have enough money to overcome their financial needs they will invest little.

ir.yance

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in my opinion there will be no effect on bitcoin if the price of oil becomes more expensive. bitcoin can only be influenced by investors and traders, but good news and bad news about bitcoin can also affect the price of bitcoin.

Portia12

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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?

In my own opinion, the price of the oil does not affect cryptocurrency because they did not share the same industry as well as the market prices.

Helpme_please

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Quote from: BitTraderCute on September 08, 2018, 09:58:37 AM

Quote from: ronics on September 05, 2018, 12:50:49 AM

honestly, im trying to research the website but i never see any relationship between a bitcoin price and the price of oil. I know that the price of an oil really will affect the fiat currencies. and the price of bitcoin depends on many factors. and when a market is successfully organized by professtional investors, there will be more factors.

that 's wrong dude.investor always have several place to put their money.maybe in stocks market,commodity, forex or even in cryptocurrency.if oil price goes up meanwhile btc down, they would switch their asset investment to oil in order to gain profits.we need correlation intermarket analisys to understand it.

that's right dude, for profesional investor that manage millions dollar intermarket analisys skills is an obligation if they want their portofolio growth rapidly

BitTraderCute

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Quote from: ronics on September 05, 2018, 12:50:49 AM

honestly, im trying to research the website but i never see any relationship between a bitcoin price and the price of oil. I know that the price of an oil really will affect the fiat currencies. and the price of bitcoin depends on many factors. and when a market is successfully organized by professtional investors, there will be more factors.

that 's wrong dude.investor always have several place to put their money.maybe in stocks market,commodity, forex or even in cryptocurrency.if oil price goes up meanwhile btc down, they would switch their asset investment to oil in order to gain profits.we need correlation intermarket analisys to understand it.

amber deposit

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Activity: 210

Merit: 3

If we look at the graphs of the bitcoin and Brent prices, we can see a correlation: if the price of oil is rising, then bitcoin grows, if the price of oil falls, then bitcoin falls, although the volatility of the bitcoin course is much greater than the volatility of the oil price. This means that bitcoin is highly dependent on oil prices, that is, apparently, large volumes of oil are sold for bitcoins.

alfs75

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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?

definetly in my own speculation,theres no relation when the oil price hike to the cryptocurrency investment price value,because everyone of this, have a different path thats they move on,cryptocurrency are for digital figures and used onky of some marketable products,while oil price is a traditional economic bussiness thats can run through a fiat money transaction,in order to create a trading,otherwise we already knows thats there some ICO project development thats can handle and oil bussiness .

STT

legendary

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Quote from: Ayush rana on September 04, 2018, 11:50:31 AM

I think there in no connection in between oil price and bitcoin price. Oil price is controlled by centralized authority where bitcoin is decentralized.
Bitcoin price is only be affected by Oil price if OPEC nations accept bitcoin as a payment option for selling Oils to different nation. Otherwise there is no connection in between oil and bitcoins.

There is some connection between every traded asset but BTC especially uses energy and must justify its usage to some extent. Higher oil effects gold also, similarly it uses alot of energy in mining and consumption and there is a classic ratio between the two held and studied over many years.

Its true OPEC is heavily involved in oil prices but its not the sole control for the price.

To answer the OP I hope that BTC is refined in its protocol and is able to avoid too high a cost in processing. A free market always favours efficiency and even BTC will follow that I believe

valentine401

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Activity: 378

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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?

In my own opinion, it will not impact the cryptocurrency prices since gas is only affecting the price of products that is needed to be manually delivered like exporting on different countries.

JackdunR

newbie

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In my opinion, these two categories will never be related to one another, but in my opinion, it is another aspect and BTC is another aspect that is not related to value and relationship.

Assface16678

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Quote from: act now on May 24, 2018, 08:03:28 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.

I agree with this. I believe that there is no strong relationship between oil and bitcoin. There might be an impact to the world economy but there is nothing to worry about the market of cryptocurrency. There is no clear relation even though there some theory still there is no clear relation.

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