Bitcoin Forum

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 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.

Yeah! i was what??????? is the topic really make sense??????? Well we have a country who uses their own coin to purchased oil from them and I can see the connection that when the oil price increase the coin value as well, but if you make it as general then ----I can only say is-----eh???!!

What I've been observing is when bitcoin is going down, stocks are going down and oil price is going up.

I can't say that they have a connection or oil and bitcoin are relying to the same market but I think if the world's economy we are talking about here, they are part of it so if oil's price goes up I'm not saying that bitcoin's price will go down.

But the relation that I can say is when the economic situation is bad, most of the markets are down and the price of oil goes up.

What's your theory?

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.

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.

It's neither.
Besides, oil at 120 is a bit far fetch, if it's going to raise that much consumption will drop and more shale oil will flood the market alongside with heavy oil.
100$ maybe, because of the current flip flop with Iran but 120...doubt it.

Back to bitcoin, it is going to have 0 effect.
Oil at 10$ or at 100$ it's the same, those two have no connection whatsoever.

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 think it is unlikely that as in these industries approximately the same investors. Some investors on wall street do not consider cryptocurrencies for something worthwhile. Remember even the expression of Warren Buffett about bitcoin. Therefore, it is unlikely that raw materials so affect high-tech development.

There is a tiny chance that Petro investors will decide to take their profits somewhere around 100$ because oil obviously won't go higher. This might pump BTC a little bit. But tbh I have no idea about the details of petro trading and don't think it will make a significant influence. Hovewer, I also doubt the mental abilities of the people that invested in Petro coin so there is a chance that they will keep hodling.

No connection whatsoever. It's like asking what will happen to steam trading cards prices if the prices of bread went up which doesn't make any sense IMO. Surely, some investors might bank in to oil within the next months as they expected the price/barrel to rise, but that wouldn't really affect bitcoin in any way since it's not like a huge percentage of investors here are oil traders. Stock traders, on the other hand, might give it a go and try their luck on the oil trading market, but those bitcoin traders right now? Certainly not going to give a damn, given that it's ripe for the pickings again considering that we have entered yet another buying opportunity.

Higher oil prices will lead to increased electricity costs hitting the miners a little harder.

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

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

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

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.

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

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.

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.

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.

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.

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.

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.

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.

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 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.

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.

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.

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. ;)

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.

no relationship at all, except oil can be bought with bitcoin. unstable bitcoin prices can not keep up with a more stable oil price.

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.

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  ;)

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.

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 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.

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.

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.

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.

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.

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.

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

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.

Nothing happens with bitcoin because the price of oil does not affect the price of the cryptocurrency.

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.

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. 

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.

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.

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.

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.

I also think that price oil can't seriously affect the crypto world. But maybe oil-rich people from Arabian countries, South America, Africa, Russia will decide to invest own money in crypto, who knows?!

Bitcoin is not baked or related to Oil. I don't think Bitcoin will be affected by the oil market. Tow different things you are mixing up. Bitcoin is Bitcoin, let other physical products go away.

Yeah in the first place you can see that it has no relation between the price of the bitcoin and the price of the oil but if you are going to analysed these you would notice that bitcoin is related to the fiat currency, why.? Because if you have bitcoin and you want a cash from it you are going to convert it in particular currency which have a big effects in the economy, and when the economy of a particular country so it means the goods are in the good price especially the oil.

Probably nothing will happen. Oil and bitcoin are not related to each other. Does anyone buy large quantities of oil by paying cryptocurrencies? I have not heard of this case. The increase in the price of oil does not affect the price of bitcoin.

I do think it'll probably affect the economy of crude oil consumers, US included, reducing the value of usd and increasing the value of btc

Since electricity price are affected when oilprice hikes so this may have small influence about mining and since mining is the source of bitcoin it maybtake effect to the price of market.

But this not means either dip but atleast some price movements,though im afraid we may feel that because the current status still not stable

I can't find related to bitcoin and oil. This is a different thing, I mean Crypto world is an alternate for investment or related to payment something and oil is a commodity that can be used for the daily activity.
I'm interested in your opinion about a relation between bitcoin and oil.

If the prices of oil increase, it reduces the ability of the individuals to invest in the crypto market and as a result the market goes down because the demand for the crypto goes down which also reduces the prices of crypto currency. The opposite happens when the prices of oil falls maximizing the ability of the individuals to invest again in the crypto currency. It is like taxes which show the same results.

I think bitcoin can not be influenced by rising oil prices because only investors are able to make bitcoin growing so you do not easily believe in problems like this in order to keep focus in obtaining profit.

,and in some aspects it doesn't really have a major connection between oil and bitcoin or should we say crypto, but i have read from the earlier page that there is a certain coin related to oil, maybe that project might be connected to oil. In some other reasons it doesn't really affected due to the rise of oil price in the market, because it doesn't use any oil as a fuel.

Well, according to this:
http://www.tsp-data-portal.org/Breakdown-of-Electricity-Generation-by-Energy-Source#tspQvChart
only 5% of the total energy produced in the world requires oil.
When it comes to Europe it's down 2% and 3% in the US.
So even if the price of oil will go to 100 and above, the rates won't go that much up, another drop to or even below 7000 would hit miners x times harder.

Oil and bitcoin is not connected to each other I think. Bitcoin is online and that's digital while oil is offline marketing. If the price of oil decreasing or increasing I don't think bitcoin can affect from th emovement from the oil price.

What impact are you expecting? I think oil prices aren't anyhow related to cryptocurrency prices. Only if all of the cryptocurrency holders would suddenly decide to sell their cryptos in order to buy a couple of barrels. But even then the impact wouldn't be that serious.

Oil price hike is always happen and it seems nothing to do with crypto. Crypto continues to be volatile, unpredictable and all norms of it goes on. Even the oil price become low or high it has no connection to bitcoin and vice versa. They are too unrelated and in same way no connection to each other.

Oil price is not depends on bitcoin price or vice versa. It means if oil price hike it effects itself. There are instances that bitcoin crash but the price of oil decrease. Sometimes bitcoin price increase but the oil price is the same. So there are own freedom of both parties. No worries because oil is not yet decentralized.

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. Oil accepted in every countries but not every countries accept the bitcoin.

When the oil prices goes up, the savings of the individuals goes down as the laws of economics says as a result of which the demand for the Bitcoin in the market falls. A fall in the prices of demand for a commodity reduces the prices of that commodity. This leads the people to either reduce the use of oil or take loans to meet the needs and keep their investment going in the market.

If the oil price goes up, everything in our prime commodities goes up too so inflation occurs, and if inflation rules there is a decrease of currency value, so it means including bitcoin price goes down too. Oil price matters a lot to us, it has a big impact to our lives and to our daily needs, it drives everything we need in our living because oil price causes inflation and deflation to our market.

In my opinion any price increase on Commodities like Oil has no direct impact on Bitcoin, Not unless, one or two Big Time investors had Huge invested in Bitcoin and the same manner also invested in oil product then sadden shift by pulling out the said investment from Bitcoin  then invest further to Oil product, it may affect somehow the price value of Bitcoin but only the fraction of point.

happiness btc in my opinion is when bitcoin start booming and arguably has started viral among the society, and this makes bitcoin enthusiasts more and more if the demand more and more then bitcoin price will soar, as happened at the end of 2017

You haven't read this I guess.

There can be a connection to everything if they are using power source / energy.

It's a typo error mate, it should be "happens".

There is a good relation between the gas and bitcoin price, because when price of gas changes the value of USD changes too , if gas price goes up, USD loses value, and also bitcoin loses value too.

Me as an Economist, this is how I see this situation.

Is it related in our bitcoin? It is far from cryptocurrency, there's nothing we can do if the oil price goes or down. Just focus on the price of bitcoin to have an updated news and information about it.

I have not really seen the relationship between BTC and the price of being rich or related to other properties around the world, BTC exists and develops based on supply and demand around the world. Not dependent on world oil prices as people think. If during the price of oil fell but the whale pump money into the BTC, the BTC price increase, not affected by oil prices.

That is a PETRO coin from venezuela which is an Oil coin, I think if the price of oil rise high this coin will be affected but not all cryptocurrency especially with bitcoin. If the price of oil continues to soar high maybe people will convert their bitcoin into fiat money to buy the thing their need but it will not affect the market much.

I don't see any clear connection between the price of the oil and the price of bitcoin because they are not related and even the price of oil goes up really high or really down, it doesn't matter to bitcoin because the only thing that determines the price of bitcoin is the demand from the people who want to buy and sell bitcoin.

But in my opinion, BTC does not affect world oil prices, BTC is a special asset, separate from the demand in the market of goods and services, so if the oil price increase or decrease does not affect the price BTC, BTC only decreased when supply increased and prices increased as supply decreased, demand increased.

The oil price will not affect the prices in the market of cryptocurrency because oil will just affect the physical products, market of cryptocurrency is too far from the issue of economy in the country, banks with few investors is the only way for the economy of the country to be affected in terms of taxes.

Cryptocurrency has its own path different from the oil way. although they moves by the impluence of supply and demand it does not mean they are depended in each other.

that will still depend. What if some other people will use cryptos such as bitcoin in order to purchase oil? you know mate physical products such as oil can also be bought online within the online store.

 Bitcoin can also be used on some offline stores , therfor it is really possible that oil can affect the value of bitcoins.

if the price of the oil goes up , that is only an indication that lots of people are buying it and if that people uses bitcoin to purchase oil, there is also chance that bitcoins value can also increase.

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.

I think there is no connection between these two investments of Bitcoin and oil. If the oil price will become more expensive the first that it will be affected most is the prices of our daily commodities will increase specially to those who use gas in the transportation of goods but regarding Bitcoin, i think your Bitcoin value for spending will going to reduce because the price of goods will become more expensive to purchase but this is the same faith with fiat currencies.

Yes, oil prices do not affect much on BTC prices, oil prices only affect some main foods, with BTC is not dependent and also irrelevant. BTC prices depend on supply and demand, on the trust of the holder. So please invest in BTC.

it seems like gas oil will not be able to affect the bitcoin price because bitcoin just moves from the demand process only means that only buyers and sellers can affect the price.

As far as I'm aware, there is no bonding thread or any relation between the bitcoin value and the oil price. However, in terms of overall, rising petroleum prices may affect the global economy, manufacturing, mining, processing and transportation industries. In that sense, the value of bitcoin can be influenced collectively.

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 think that some of the countries will be affected but not every country will tolerate or will connect the price value into cryptocurrency because they are different concept of marketing and it affects the economy at a different way as well.

I don't see any connection between oil price and crypto, both of them got a different market and fiat investment won't affect the crypto investment, even if the dollar value is going up or down, it doesn't affect crypto at all, crypto got it's own support so don't worry about it

Have you ever saw that oil prices dropped or increased when the BTC prices were fluctuated last time.

Did you see that oil prices went down when the BTC prices were 20K USD last year ?

I think none of that happened and thus it proves that there is no connection between the oil and bitcoin where no effect will be done on the their market whether one moves up or another moves down and vice versa.

I can not see the connection between rising oil prices and Bitcoin prices, I think that rising oil prices will not affect bitcoin prices, I just think oil businessmen will use their profits to buy bitcoins,

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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

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.

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.

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

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.

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.

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.

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.

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

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.

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.

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.

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!

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

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.  :-\

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

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. :)

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.

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.

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.

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.

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.

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.

it need intermarket analisys to know what will happen to bitcoin if oil price goes up.only expert in economy macro can analize this case.but i am sure it have effect although not big

i think oil and bitcoin have nothing to do, but globally there must be a link between them. i think investors are faced with two options to invest. from there it will be split into two if the investor trading both

I’ve been reading some sources about this topic and didn’t find any correlation of BTC and oil prices. But i think that crypto currencies that are directly using it may feel a bit movement. The value of the currency is from its supply not the price of the goods they exchange for.

I don’t so because the price of bitcoin also depends upon the investment ratio of the people and is not only proportional to oil price. Oil is the demand of almost everyone in this world because it is no alternate, while bitcoin is a coin business and for investment your money you can chose any sector bitcoin is not necessary. In my opinion both have different directions and there is no link between these two.

i think bitcoin and oil will never be related to each other. bitcoin need electricity because it is digital and we can only use it in computer and cellphones. and theres no existing gadgets that needs oil in order to operate.

a good topic of conversation, and my opinion as to whether the bitcoin price is affected by the ups and downs of world oil prices in barrels, I do not think that's the case with bitcoin, which I understand and observe the ups and downs of bitcoin affected by the politics of the existence and the folly of bitcoin itself and the second is influenced by the new altcoin that makes the project better than bitcoin, so altcoin is able to be the investor's attention to move from bitcoin, I think crypto big impact the price of ups and downs and the existence of crypto only on government regulations and investors while others have an impact but small effect, may be useful and successful for all of us

Yes, the correlation between oil price and BTC is absent, he wrote this topic almost 100% out of disagreement, I think he seems to be thinking about something in the market. and to BTC

I think that all sectors of the economy are interrelated, and the rise in oil prices may have some impact on the cryptocurrency market.

Honestly, I don't think that both of them are related, but from an economic point of view maybe they can be related. As you said, I think of the rise in oil prices, maybe it can affect the crypto market and bitcoin can rise, I am sure that what will happen in the future, bitcoin and oil prices will increase too much as the demand is higher later.

I think and im not sure on it. Bitcoin will not effect the price of bitcoin even though its goes up. Because the market of oil and bitcoin is too different in the market. And bitcoin also a coin circulating not like oil.

Oil price can not go up very high, because there are a lot of oil in the world already, so it is may be short to mid term price change. Plus oil price can not affect Bitcoin due to fact that computer/asic hardware makes BTC mining, but not the oil/gas engine.  ;D

The increase in the price of oil will not affect the cryptocurrency market. The only connection could be a possible increase in the price of electricity and a possible increase in mining costs. There are probably no other dependencies.

Why would it affect the price of Bitcoin ?
There is no connection between the two of them,
To be honest I don't really think that it would affect the crypto currency price at all.

This is a good question, and one which is rarely asked on this forum. I think it won't have any impact because institutional investors haven't put too much into bitcoin yet, so if they switch to oil, it won't affect the bitcoin price

The price of oil depends on the production and demand, while bitcoin price depends upon the mining, availability and investment cap. As more and more people invest in bitcoin the price increases and when the investment ratio decreases the price also decreases. There is no link between oil and bitcoin. Both are different in range, need and market value.

cryptocurrent still crypto. i mean there are nothing happen to cryptocurrent, unless all of government sell or buy the oil with cryptocurrent.
in a fact, until now, bitcoin price affected by demand of market, maybe from news, and government moves.

Bitcoin will never lose popularity despite the ever-rising gas price, which in turn makes wallet providers eager as rising gas prices will be a huge income for them.

The correct answer to this question is it all depends. All in all, it depends on the reasons which are driving the prices of both oil and Bitcoin in either direction. Obviously, these reasons may be completely unrelated and then changes in the prices will be unrelated too. On the other hand, if these forces affect both crude oil and cryptocurrencies at the same (though maybe to a different degree), then we can expect that the prices of these assets will be changing rather in unison.

Did OP share his theory on the question he raised as promised?

What is the connection of oil price to BTC ? I do not know why that question is so I'm looking at it , because they are different .and if Each one goes up or down , I believe they have nothing to do with one another . In short i dont see they have any connection .

You can see that today's bitcoin prices are falling sharply and there are no signs of a recovery, so to be able to trade successfully is very difficult, the market is constantly changing. and is still in a bear market in the long run. The current bitcoin price has been adjusted to $ 7500, according to my analysis, bitcoin prices will continue to rise sharply in the coming days before falling in the long run.

Bitcoin is a lot different from oil, and it has nothing to do with it. Whenever you invest into Bitcoin, it has no influence in oil industries or whatsoever and the same thing applies to when you’re investing in oil. Whenever the price of Bitcoin falls, it doesn’t have any effect on oil prices and when oil prices falls, nothing happens to Bitcoin, because there are different investors investing differently in them.

I don't think the price of Bitcoin is in any way related to the price of OIL. No matter what happens to the OIL prices, bitcoin price won't change. The same happens in the case of Share market too. No effect on it as well unless there is a major variation in price.
The price of Bitcoin and cryptos are only dependent on news, rumors and FUDs.

increase in oil price.
when we are talking about economy it deal with oil. but i don't see why increase in oil will affect Bitcoins. crytocurency is marge to increase of oil.

I don't see any connection with Bitcoin and the oil prices but maybe if there is, if people will have less money because the oil price gets up then most probably the buying of bitcoin lessens as well because of it. But other than that, I really dont see and difference in price if the oil goes up and down.

I think the price of oil, even gets high, has nothing to do with the price of bitcoin because price of bitcoin depends on how high the demand and how limited the supply is to change the price in the market. Though both has something to do with the economy of one country because they contribute in it and both the market circulation is being matter why the price changes.

In recent days, the price of bitocin and altocin has been continuously decreasing, the continuous adjustment of bitcoin prices has made the price of altcoin continue to decrease deeply and without signs. recovery. I believe that at this point you should not trade for the market to be more stable to start trading, the risk will be lower.

If the oil prices go up, people would have to save money to buy oil. The money which previously was there for investment in Bitcoin is now spent on oil. The demand for Bitcoin will decline and as a result, the prices of Bitcoin will also drop down therefore verifying the law of demand. This shows that the prices of bitcoin are flexible to the fall in demand for Bitcoin.

Bitcoin and oil are connected to each other because oil is basing to world market and bitcoin is on crypto market they are not connected. So even the oil will go high it will not affect to bitcoin.

For me there's no effect if the oil price hike because Bitcoin is almost illogical to bitcoin for me there's no effect the oil is not totally involve when you do mining for me there's no problem about that issue

That’s right! Oil and bitcoin are different as night and day, there is no relation with each other. It goes without saying that bitcoin is a digital currency which is on the internet, especially people enter bitcoin market to get benefit . On contrary, oil is just a commodity, a supply for human being in day activity  . And as you know that oil price has a rise probably because the mode of production or technique is getting highly improve. In general, oil price does not take any impact to bitcoin market.

maybe it will make bitcoin prices also rise, because to make bitcoin required a large enough electricity and most of the electricity production is still using oil for power generation machines, so I think the price of bitcoin is influenced by the price of oil

no i guess that was the other way around. i can also see that it is irrelevant that when the oil price rise up, bitcoin price also rises up, and i kinda disagree your opinion about machines being powered by oil, because as far as i can see and we can even notice that, bitcoin was using electricity and much more requirement is the internet, both of them are the basic necessity when it comes to this and oil doesn't seem to have contribution about them.

I am also very curious: why do people seek for some connection between the digital money and the oil? OK, I understand 50% of the USA electricity comes from the oil but still there is no visual reason here...

Well, I think I can throw some light on this matter. Oil has been slowly rising recently, so people are eagerly looking for reasons why cryptocurrencies should rise along with it too. In other words, if someone tells or claims there is a connection after all between oil and Bitcoin prices (positive correlation, to be precise), then people will feel reassured in their cryptocurrency investments. That will give them a feeling of wellbeing, if you please.

I hope this explains it pretty well why such questions arise.

There is no link of bitcoin with oil prices because oil is trading in usd not in btc. Bitcoin has its own value.

in my opinion there is no relation whatsoever between rising oil prices with bitcoin prices, they have no relation to each other.

As far as i know altcoin price up is depends on bitcoin too, so if altcoin grow,bitcoin is already go up

Bitcoin is an online currency, a decentralized and having same value everywhere, therefore i personally do not think that the oil price will effect bitcoin too much. i am sure that even if the oil price is increasing or decreasing, bitcoin will be trading in its normal routine and we will never see any special change in bitcoin price.

I honestly doubt if there's a direct correlation between the price of oil and bitcoin as they aren't in the same sector of the economy. Price determinant for btc have always been either increase or decrease in demand or positive and negative news.

Frankly speaking I don't really see how the price of bitcoin can be directly affected with the price of oil.

If the oil price is going up, it does not affect the bitcoin value in my opinion. Because bitcoin is also not so related to oil prices. But maybe if the oil price hike occurs, the world economic crisis will happen and that's what can affect the price of bitcoin.

we have to look and analyze what happened before when the oil prices were down. If the money from btc flows into oil than obviously the price would go down.

Rises and falls of bitcoins’ price are always happening because of its reputation in the eyes of people who are getting aware of it. When the people start believing that bitcoins are becoming insecure for them due to some factors like the false news about bitcoins, they start selling their bitcoins in order to save themselves from big losses so the price automatically falls in market. 

Bitcoin investment will change and so will be the price because the price depends upon investment and when investment increases or decreases the price fluctuates. 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.

Bitcoin is cryptocurrency and you know that everything is being affected by the oil prices. Oil price is not controlled by a single country. Oil and gold are the two things that are treated globally and the daily price is given on the internet. So is bitcoin and in my opinion it is affected by the price of oil because the oil price is also changes globally and such things effects each other. 

I also do not think that there will be any effect of oil price on bitcoin, bitcoin will surely trade in its normal way and may not be effected by international oil price.

I dont see significant effects of the oil increase in btc but if ever there are effects in any way hopefully this wont affect btc price that much.

I can't say that they have a connection or oil and bitcoin are relying to the same market but I think if the world's economy we are talking about here, they are part of it so if oil's price goes up I'm not saying that bitcoin's price will go down.

There is no link from bitcoin and gasoline. But it will increase the inflation of any aspect of life, society, industry, production. if this lasts. It is difficult for people to get their savings to invest in bitcoins and crypto.

In my opinion, I think Bitcoin prices are unlikely to be affected by the price of oil. Whether the price of oil is high or low, its impact on Bitcoin is almost minimal or even not at all. At present, the value of Bitcoin is most affected by the news related to the mayor of cryptocurrncy. In recent months, we can clearly see this, just a few small negative news are enough to make Bitcoin change. This is just my opinion, I would like to know more your views on this issue

As far as I know the price of oil and the price of bitcoin is absolutely not connected. Therefore, most likely, this will not significantly affect the cryptocurrency world.

As I saw some news from TV their  is no connection between oil and BTC, only fiat money is affected if oil price change. I think oil market has nothing to do with cryptocurrency as of this moment.

Yes, there nothing between oil market and bitcoin market but the oil market will have impact in the stock market and bitcoin market and stock market seems follow each other sometimes so there's chance for the OP said to happen.

I don't think there is a connection of oil price hike to bitcoin, its a commodity will affected, as i experience if the  oil price will hike the commodity will also hike, bitcoin don't.

I think bitcoin will continue to be popular even though the various negative and oil prices goes up, this is because everyone has been proven and felt the great benefits of bitcoin so if the oil price goes up then they will not take it too much.

Even the oil price will hike and goes to the higher price,the bitcoin is still remain a bitcoin. I have no idea for having a connections both of them. Normally,bitcoin will continue to help people through the any forms of crypto activities.

If any material things like oil, een thou it will going up the prices, it not a problem, because no connection between bitcoins and oil prices Etc. otherwise our economy in our everyday lifestyle will have a negative cause because of higher prices in the market stor. we are all suffer to this situation. but if we continue to invest our capital to bitcoins or other digital currency, we are not effected because we contues earning and our business contue to grow and grow even thou our own country suffered a lot. but we are bless to have business like this.

If the oil goes high there is no direct effect on it in the bitcoin but has in some fuel based coins. That has a probability of rising up while in the oil price rise have other effects consequently in electricity and foods when it rises in my country everything will follow. Then one thing that it will directly become more affected is the bitcoin mining and other miners because of high electricity.

The price of oil will affect the economy of a country. For country whose business is oil, of course they economy will boom and for those who are just consumer, they find it hard. Bitcoin is also affected by the country's economy. The more countries suffer in their economy the more bitcoin will be affected.

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.

At first glance, we will surely not be able to understand the relationship of bitcoin and the oil price. But I think, when oil price hikes, everything will be affected, including the bitcoin value. Why? Because although we do not use any transportation for this, we use internet. Another one is that, everything depends on the oil because it has a lot of uses in this generation. For every kind of industry, oil is needed directly or indirectly.

i think there is no connection with it, either bitcoin was using so much electricity source but not all need with an electric using by oil power, many kind of it too
oil price are rising because many people are using any of cars and gas

I don't know what will happend if the price of the oil goes up because if you can see between oil and bitcoin there's no connection, only fiat currency that affect if the oil price goes up or down but in crypto i think no.

I think it has nothing to do with oil prices, if seen from the previous history even bitcoin prices increased dramatically last year purely because of more and more demand with bitcoin supply that only 21 million.

When the price of oil goes up then people have less money to buy goods, and people have to jack up prices. So less money to go around, so yeah, it can affect the amount people spend on everything, including cryptos.

In as much as prices of Bitcoin and crude oil are not related, there is a slight influence an upward rise in price of crude oil which is energy has on commodities, including bitcoin. Just like Gold, an increase in its value will cause an increase in prices generally.When the economy is  reflated inflation will set in to mop up the excess  liquidity.

Bitcoin is not connected to oil price high. The only affected is economy in small country like here in the Philippines. If that happen oil price value become higher than the price now, all filipino people suffered the the high price value of any kinds of goods, foods and all merchandise are going high price value so I hope it will stable in a low value of dollar.

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

Is there a connection between the two? Well it would have once btc would be the payment for an oil exchange. It is somehow good on the other side. Why? Because once the oil per barrel price goes up it would downgrade the bitcoin value, then, it would giveway the chance for bitcoin price to goes up too, you get my point? Well that is only my merw theory though, I ain't sure if that is how things will go.

Definitely,when the oil goes up,it has nothing to do with the price of bitcoin.Bitcoin price basically depends on supply and demand in the market.So whatever the price of oil it may goes up or down, bitcoin is not actually affected.

as of today, crude oil prices are also fluctuating bitcoin is no way related to socio-economic events bitcoin is more dependent on blockchain news and adoption

In my own opinion, the price of bitcoins will not be affected by the increase of oil price because the value of cryptocurrency is depending on the demand and supply in the market and fud as well that can actually dump the price of cryptocurrency if people will start to reject bitcoins.

First of all I don't see any connection between Bitcoin and oil in any segment and there is no mutual influence whatsoever.
Bitcoin or cryptocurrencies are not connected with oil market and the price of Bitcoin is defined by crypto market, the demand and supply.
It seems that every time when the Bitcoin price goes down people try to find some unbelivable causes and patterns that makes no sense at all. I think this is because of ignorance and lack of experience.

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.

Yes,why they are comparing bitcoin with oil barrels. ::)

Media reviews about the crypto currencies are the most important factor on deciding the bitcoin prices.So other things happening around the world may not have a big part in the crypto currency field.

when bitcoin price rises then what will happen with bitcoin it seems that bitcoin volume will increase and bitcoin transactions will become very crowded and bitcoin will be difficult to obtain.

I thinks there is nothing much affected into the situation of cryptocurrency investment when the oil price value going to high,and i feel it now in my own country,because in real life im also a motorist and at the same time a cryptocurrency enthusiastic,actualy i dont know if theres much affected in the other countries when the oil price value is going to hike high and maybe the digital currency investment also on there homeland going up or vice versa,but here in my own country cyptocurrency is no connection in oil price hike.

You can simply create a correlation-regression equation and solve it. I'm sure you will not find any connection between Bitcoin's price and oil prices. The price of Bitcoin is likely to be more correlated with the US dollar index.

bitcoin is no way related to oil prices and gold and silver prices and much more importantly bitcoin is related to adoption of blockchain and government positive attitude towards bitcoin

Yes there is no connection between crypto currencies are you and also because he had no connection between any other country are any other state terminal so there is no changes will happen if the bitcoin files are the high-end goes up the only connection is this changes in that country.

Oil price and crypto currency prices are different in terms of physical and digital but also oil is not that something that will change the course of price of bitcoin. Bitcoin is like a currency but in digital only and is mined through computer while oil is just an asset and not a currency. Talking about of economical situation versus crypto currency is totally irrelevant.

The only thing that affects the bitcoin price seems to be the trader. Look, bitcoins are getting harder to mine or because bitcoin is rarely used as payment because the fees quite large, but their prices look downhill throughout 2018.

I don't see any correlation. Currently, I think, only whales influence the markets.

If the oil prices up in the oil market , and other commodities, it does not effect the price value of bitcoin , the price of bitcoin changes only through its volatility , from the effects of supply and demand of bitcoin in the coin market index, bitcoin prices will not be affected by this petroleum product price hike.

You can see that bitcoin is moving sideways after recovering to $ 6500, according to my analysis, bitcoin prices are recovering strongly and could rise sharply in coming days, You should buy bitcoin at this time, bitcoin prices will be able to continue to rise and reach the $ 7000 mark in the coming days.

I think bitcoin and oil have nothing to do with it at all
oil prices are not like bitcoin that is very volatile

In my opinion, I do not see any connection to Bitcoin in this case, and if the price of both responds equally in some respects before, that possibility is a coincidence. I think, bitcoin prices are currently declining due to market correction. I believe It will increase again.

I have the same sentiments with you. Oil price going up doesn't affect the value of BTC because the only fuel for BTC to run is internet. It doesn't make sense if it will connect to oil price. They don't have any conection either. BTC still alive if oil price goes high.

I agree with the opinions of guys above me, what is the real connection? If the world economy definitely gets harmed, I dont think it will affect the crypto economy at all.

I really find that your question is very good, you can see that the market is slowly falling into crisis and the world is gradually facing a global economic crisis. As all of them are down, I believe that gasoline prices, bitcoin and gold prices will rise sharply. These are fixed and scarce assets, and there is also high security, so people will focus on those types of investments.

Many people say it's don't have a connection between the price of Oil and bitcoin, in my opinion it self that depends on individual finances. if you save your money in bitcoin or your job is 100% in crypto yes it should have an effect on the value. considering the price of bitcoin it self is very fulculatif.

First, these two things are different from each other and there are different people investing in either of them. So if the price of Bitcoin either goes up or down, I don’t see it affecting Oil price in any way. That’s also the same thing with Oil, if the price goes up or down, it will not affect Bitcoin in any way. They are both different as I said.

I never thought about it and did not pay attention to it, it's very interesting. It is necessary to conduct an accurate analysis as far as possible and then maybe we will see a trend.

I don’t see any relation between Bitcoin and oil, Bitcoin’s price won’t be affected or maybe even if it affected the price won’t move too much. This indirect relation of Bitcoin to altcoins is directly related to oil, Petrocoin for example. But I am open-minded to every possibilities and the theory that exists.

I do not think that bitcoin and oil prices are related in various ways, they both have different markets and different investors, oil is something important and hence has a limited price the price will always be increased, somehow bitcoin works but both operate on different levels, because people who invest in oil are not the same people who invest in bitcoin.

I wouldn’t say it have no influence at all, but very little. Probably because many of Bitcoin investors are playing in petroleum too, they will sell their Bitcoin when the petroleum is giving faster profits than waiting for Bitcoin’s price to soar again, it could causing the price to decrease and then increases back if the investors succeed in the petroleum.

I don't get it my friend. People who invests in oil commo's are not the same to those who hodls bitcoins. SO basically if the oil price rockets to the moon, we don't care about it, do we? Well, unless we own a Lambo of course. ha ha!

does not seem to be problematic with BTC if oil prices goes up, because they are different.

I think this is good for bitcoin because what I personally think is that the valuation of all these stocks and forex are interlinked with all crypto currencies, as you are saying that if the valuation of oil will rises then in turn the valuation of bitcoin also inflate because the market demand of bitcoin will increase as the valuation of oil is rising , people starts investing into oil more and there they will get more profit and then in turn can invest into bitcoin and can earn more profit.

The price of oil barrels will lead to higher prices for Bitcoin. Its value grows as the way that gold grows year by year. In some countries, rising oil prices will hurt the value of their currencies. But for Crypto, I think they will adjust prices reasonably with rising oil prices. That is my personal opinion.

I really cannot imagine a relation between oil price and Bitcoin price. With the same logic I could ask:

What happnes to BTC, if the coffee price goes up?
What happnes to BTC, if the real estate price goes up?
What happnes to BTC, if the water price goes up?

It doesn't make a lot of sense...

The price for bitcoin does not depend on the growth or decrease in the price of oil.  Bitcoin is for nothing fixed and has no basis.

This will certainly have impact on bitoin. Since cash will be more available in the sector, some of the oil workers will buy into Crypto market. And also we might even see the government of Venezuela pumping money into Crypto, this generally will lead to increase in general market cap and cause a spilke in BTC price. 

There's no conflict between oil price and bitcoin price, because the control system are far different from it's business status line, oil businesses are form of transparency management that proctected with the control of government people, unlike bitcoin it is form of hidden leadership by the creator and no one can give the accurate leadership and control on this business, and it is a form of decentralized business.

In my own opinion, oil prices wont affect cryptocurrency market because the economy of bitcoins is different from the raw products but if there is an ico that is related to oil then probably that token's value will be affected.

If the oil price goes up in the oil market ,it does not change the price of the bitcoin , because the rise and fall of prices of bitcoin have certain factors that effects its price market value ,

I don't see any connection of the price of bitcoin from the price of oil as they are in a different business group. Maybe at the miners side but not a higher impact as most miners are using the renewable energy.

I dont see any relevance of the oil prices and bitcoin in my own honest opinion. But it may connect with how people use their money when they get to work and the amount of money they are able to invest or what is left with the oil prices that are increasing as well but other than that I dont see any connection between the two.

I am not sure if there is any increase in oil with bitcoin prices. I think with rising oil prices will affect fiat stocks around the world. has anyone proved it?

Oil prices can not go down due to fact, that there are a lot of oil reserves. Plus if cars use less fuel, that means that oil price can also go down. Of course oil price can change during the year, but then it will return in previous position.  ;)

Oil prices and cryptocurrency is not connected but as of today, the market prices is slowly pumping since it run very low for too long and people are starting to invest again.

I think btc is safest place to hold money, if price of oil will go down-money will come in btc,right now oil is interesting by high price because a lot of cars in the world use fuel. In future most expensive and valuable resource will be electricity,because of electric cars and cryptocurrency

Oil price high can cause of inflaton of price of many goods   and merchandise of some country together with the value of money but not to be affected to Bitcoin.

if the price of oil rises does not seem to affect the bitcoin price because the true oil and bitcoin are not the same and so contrary so will not give any effect on it.

It shouldn't have very big effect on the bitcoin.  But for sure it's not very helpful, because the more money are spent to buy oil, the less money there is to spend on bitcoin. But if the bitcoin has a stable demand from people who purchase it with other crypto coins, it shouldn't be a problem.

Bitcoin is not the national currency of any state, and at least do what but the price of oil at least for today well, no way affects the price of bitcoin.  Oil price increase is great news for many oil States, as it is excellent for the country's economy. And if everything is fine in the country - therefore, people are more secure and tend to give their money to somewhere in the Bank. but this has little effect on the price of bitcoin.

What the? Really? I don't think there's going to be any direct and considerable effect of the price of oil to btc value. Probably for fiat since they're both physical assets. Digital currencies are likely to stay with their usual movements

I don't see any connection between BTC and oil price because the market of BTC is different from oil market if oil price will rise i think fiat money is the one to be affected and also price of commodities will rise.

I think and im now not certain on it. Bitcoin will no longer effect the price of bitcoin even though its goes up. due to the fact the market of oil and bitcoin is just too unique in the market. And bitcoin additionally a coin circulating not like oil.

The oil price increase in the global market right now has no impact on bitcoin price, because the bitcoin is do not use oil and bitcoin is not for the daily needs of the people, so how come the oil price increase will affect bitcoin price? Bitcoin and oil are different business and do not habe connecions with each other.

I think it's not very influential. because bitcoin is less influential on world economic conditions and prices on bitcoin are also stand-alone, unrelated to any circumstances or circumstances.

I am curious about your technical analysis and theory
because so far bitcoin has nothing to do with oil prices or other mining prices such as silver and iron

I don't think there's a relationship between the progress of bitcoin and oil it's because they are different type of assets where BTC is defined as an intangible one and in contrast to the other one. But if a certain crypto that is backed by an oil will be recognized just like the Venezuelan Petro (http://planetlegem.com/funcionamiento-legal-de-la-criptomoneda-venezolana-petro/) crypto will make some noise in the cryptoworld, then probably it can affect bitcoin's value.

I think there is no connection between bitcoin and oil prices. Some other commodities and services that uses petroleum products has an effect on the oil prices but not cryptocurrencies.

To the best I know and think for now, there is no connection what so ever between bitcoin and oil. The only thing that may happen is, when oil price goes up that much, there will be more money in the system thereby, more investors  may come in to invest in bitcoin which will drive the price up

Yes, how can people compare with the Oil and i think there is no relation with the Bitcoin and Oil. Cryptocurrency is a completely different concept which we don't have any relation with the Oil but slowly the price of cryptocurrency are answering along with the Bitcoin.

Nothing happen i think. Maybe effects in trading pair between BTC and fiat.
But i think it's will not give big effects because it's not have relations between crypto and oil

NOthing I guess because btc remains on its value which is so volatile. The only thing will be affected by oil price goes up is the fiat money and other commodities that will going to take a rise also in market price as the government will do the regulation on its market price.

between traders crypto and oil traders different space. in the absence of such linkage, then i do not think it affects each other. oil is legal throughout the world, while cryptocurrency has not

Oil and bitcoin don't have any connection unless all oil industry is relying too in bitcoin but it's not. So they don't any connection so even oil go higher the price there's no impact in cryptocurrency.

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.

Are you sure about that? I don't think price of BTC was correlated with the price of oil. If it is already, the oil is associated with fiat. I don't think anyone would be trading oil for cryptocurrencies, at least not officially. So it doesn't affect the price of Bitcoin.

I believe that the price of bitcoin does not depend on the price of oil. This is an independent currency that is not fixed by any factors. Though we will see it

Bitcoin value has nothing to do even if the oil price goes higher because they are both different and Bitcoin is not related to oil. So we cannot connect bitcoins price to the movement of price of the oil.

The oil cost increment in the worldwide market right currently has no effect on bitcoin cost, on the grounds that the bitcoin isn't utilized oil for its live, and bitcoin is certainly not a day by day needs of the general population, so why the oil cost increment will influencing bitcoin value, bitcoin and oil are distinctive business and not associated by each other.

I personally think bitcoin and oil price has no relation to each other. Those are two different things and they do not even have the same purpose. So if the price of the oil went up, there will be no effect on bitcoin's price.

I also agree with you. Oil does not affect this market. But it is a part of the economy of a country. Petroleum helps the community of a country have favorable conditions for the economy. However, in this market, I think there is nothing to worry about. I think so.

I also think of it, what is the bitcoin relationship with oil prices, whereas the price of oil with bitcoin has nothing to do, for example today the bitcoin price is down, whether the price of oil also goes down, it is not. on the contrary the price of bitcoin down oil prices even rise. so there is no hungannya between oil with bitcoin. that's what I think.

Following your logic, BTC price should have been dependent on the cost of mining/electricity, which significantly differs in various countries (compare ~$40/MWh in Iceland and ~$170/MWh in Japan).
In reality, we can see that coins mined in Iceland are valued the same as the coins mined in Japan.
So the price of bitcoin has nothing to do with conventional commodities like oil, gas, electricity, etc.
It depends solely on supply and demand and the overall situation on the market affected by news and attempts of regulation.

There won't be any effect on Bitocoin or oil prices either because the oil prices are determined by US Dollar and not with Bitcoin or any crypto. I think there is no connectivity for oil price and Bitcoin and you are getting confused with the crypto economy and oil economy.

If Bitcoin is accepted world wide as a legal tender then oil price may be fixed on the bases of Bitcoin price and that may take several years to happen.

well, what's the oil relationship with bitcoin, but if something big like oil goes up, I think bitcoin prices will also go up. the development of such a thing may involve bitcoin, and that of course will involve and influence the bitcoin price.

You can see that in recent times bitcoin prices are constantly rising, the market is showing a very strong rebound, I think in the moment you can already start trading. But I think the recovery of bitcoin will only last for a few days and the bitcoin price will probably decrease at any time. The market is bearish in the long term and we should only invest short-term in bitcoin. Bitcoin prices may continue to fall sharply in 2018.

It is obvious that there may be no relationship between bitcoin price and petroleum price, But if we look at it critically with blockchain eye, petroleum blockcain based project like the one  you just mentioned can be a mediating factor between bitcoin and petroleum price. Just have it in mind that bitcoin and blockchain in totality will soon control all other sectors of our global economy. 

the possibility of bitcoin prices for this year has reached its lowest point and it is now time for bitcoin growth bounce back. yes indeed for the decline will still continue to exist because the movement is still fluctuative there is time to go up and there is time to go back down for a short correction before going up again. it is advisable to invest in bitcoin only in the long run only to reduce the risk of loss and if it is just starting to trade back when the price corrected back.

Yes that is right to say that bitcoin price is not going to drop anymore, because it is already trading in their lowest price, but i think there are more chances that bitcoin price will very soon its price will increase too much. I do not think that there will be any big impact of oil price on bitcoin. In fact bitcoin do not have any connection with bitcoin.

There is no relationship between oil price and BTC. But if oil companies accept BTC as a payment than price of BTC will be too damp high. And it will be a great achievement for the BTC to get global currency.

So are you trading on oil or what? I don’t see any connection with Bitcoin and Oil. Bitcoin is totally different and whenever the price of Bitcoin is going it doesn’t affect the price of oil, same thing applies to when the price for oil is going up and down, no connection between both.

So you can save your theory whatsoever cause we all don’t need it here. There are more important things to focus on than taking about oil price blah blah blah. Cryptocurrency is a totally different business.

Bitcoin doesn't have to be directly affected as prices are always based on the supply and demand. But there are things we should be considering for this matter. Indirectly bitcoin miners will be having problem with the high cost of electricity brought about by the effects of high oil prices. So as a result miners may ask for greater or higher transaction fees. In another situation investors might be having problems with the amount of money to invest. Since prices go up on the common commodities, the budget for investing in bitcoins might be used up a bit or is lessen as a result investments become smaller in value or volume. This is how it might affect bitcoin.

If the oil price gets higher, then bitcoin's price remains as it is. IMO, there is no connection between the status of their market value at all as they are very different from each other. But if oil plays a major role in every bitcoin transaction, then possibly it can affect bitcoin's status too.

I guess nothing. Bitcoin doesn't have direct investments on crude oil or any stocks for that matter. The price of Crypto currency is heavily relient on the trade within the crypto currency market. The more the trade the more healthier it would be and the strobger the price. What ever happens to the world, as long as we hold on to our coins, then we'll all be rich.

At this point this is one of the weirdest correlation proposed because i do not see any connections between these to assets.  I am interested to see what theory can explain this connection.

This is also a valid point that bitcoin is decentralized and not legal in many countries therefore they will not focus on its price due to changes in the oil prices. Oil prices affect the whole world because it is the demand for all while bitcoin is a business and is owned by some people in the world. Nationally or internationally it is not considered.

I think so, there is no connection between the two, if yesterday the price of oil rose and bitcoin prices also went up. I think it's just a coincidence that is not on purpose.

Any process of price increases on consumption or fuel both affects and raises global inflation. If the petrol price increase in the long run without adjustment. Bitcoin and crypto are perhaps the more interesting forms in that case. I personally think the market value will increase in that circumstance.

There is really no connection between the bitcoins and the oil price. 

I think there is no connection between oil prices and the value of the BTC in the cryptocurrency market because it is a separate market and not related to oil. The growth of BTC and cryptocurrency in recent days is due to good information from the market and it has solved the difficult times of investors in the past.

The price of bitcoin and that of crude oil are not positively correlated. That means there is no relationship, infact, cryptos are not correlated to any other market.

I think, bitcoin movement right now like commodities price and oil is one commodities. If oil price rising and reach $100, I think bitcoin price will following rising and hopely able to reach highest price again

The rates of the bitcoins is inversely propitiate to the rates of the stock.

Yeah I agree as the bitcoin and oil has no direct effect in their price movement. This are different commodities that traded in different environment.

....!!!!altcoin back up by oil would surely go up and value will increase as well since the business is correlated but for Bitcoin I don't see a direct connection  so in my opinion Bitcoin price is not affected by oil...

 the oil-backed cryptocurrency by Venezuela is very important. And it’s why attaching a rumor to Russia makes sense. Who do you think put this idea in President Maduro’s head, anyway? Martians? No, it was Putin.

Because it deepens Russia’s tools to combat U.S. hybrid war tactics, which include financial sanctions. They’ve already announced their plans for a crypto-ruble, as well as supporting cryptocurrency research, massive Bitcoin mining operations, and the possibility of a BRICS-Coin as well.

I'm not an expert basically but it is hard for me to see what way and how it is depending on the price of oil. it is for me similar thing as we read about the dependence of cryptocurrency price to a worldwide soccer Cup I don't think that it is dependent

I think bitcoin and oil is different thing on investment , i mean oil and bitcoin move on their way , they dont fight each other and the oil rises will not affect bitcoin  i think

For me it there is not a big connection between those two, it could just interect in some "little" way but biggest changes for me won't come cause of that.

Considering the data and the stats the price of bitcoin and oil are connected with each other.

a few months ago after I read the news about the coins associated with regulated currency Olicoin, and the coin was stable. so I think it will not affect the price of cryptocurrency, but most likely it greatly affects the world economy. I want to read a little of the theory you have, it seems interesting.

I think it doesn't affect the crypto at all, even if its affect iwill be a little because crypto and oil investment are way to different.

I think the international market also influence the bitcoin and crypto while if the big users of bitcoin can use this currency for buying of oil and if the dollar is used for paying the oil then the exchange will changes with oil trade.

I think nothing will happen to bitcoin price because there are many things in the world which do not take affect by oil prices. In general when oil prices increases other commodities also go high but bitcoin is a matter of money and those who what to earn more money will out their money in it without caring for its price. so I think it will remain the same.

Oil is not a currency and is not an easy source in which we invest our money but on the other hand the Bitcoin is an easiest source where you do not have to make arrangements but just investment is required. There is no connection between oil and Bitcoin as we know that Bitcoin is a currency and decentralized so only its demand has great affect on its price, the more we demand the more increase will occur in price.

The rise in oil prices may be disadvantageous to the world's economy, which will significantly increase the cost of many industries and may stimulate more printing of the government, if the price of big inflation will be higher.

I  dont  think  there  is   any  entity  which  is  using  oil  to  generate  electricity  for  bitcoin  mining.  because   of  that  i  do  not  really  think  there  is  a  correlation   between  bitcoin  and  the   oil  rates.   with  the   value  of  bitcoin  expected  to  increase  in  the  future  maybe  mining  btc  with  oil  energy maybe  economical. i  think  this  will  be  good  since  it  will  maintain  the  value  of  btc  high than  the  value  of  btc  at  the  moment. This  will also depend  on  the  regulations   which  will  be  put  in  place  by  governments.

So do I, but in some relevance oil price affects economy of each nations so with the hike for sure the market will be affected, it is the global market, while bitcoin still undecided by many around this market, it won't be affected yet not unless if businessman will start using this system and adopt the chain, it will affect in a positive side of investment assets.

The price of the bitcoin does not really affect the price of the oil and they are not related.

you are right. we do not know what the effects are on bitcoin if oil prices go up. well, chances are, oil is a good investment besides bitcoin, so, it could decrease the bitcoin price, but it could be the opposite.

I guess we must rather track some parameters like fed balance sheet, because the fiat money supply in circulation can take impact on the market

Oil is the  number one big business world wide and also this is a cause of inflation of all goods and merchandise in case of oil price high. But because of Bitcoin price increased, oil industry is no longer connected to Bitcoin price inflation.

If i will choose between those two investment, i will still go for bitcoin rather than oil because bitcoin has more liquidity than oil because even wherever you are, you can sell or convert your bitcoin into a fiat money which is the best for me and the reason why i choose bitcoin because oil doesn't have liquidity like the bitcoin does.

It is difficult to predict how the market situation will change in the future. Everything could happen, therefore, the smartest way to invest in digital assets is to build a well-diversified portfolio based on your risk preference and investment goals. Such a portfolio would likely include a substantial holding in bitcoin and small exposure to promising ICO tokens. I have found a trustworthy ICO project. It is called Socratus.  It is an insurance ecosystem which provides a digital platform for insurance companies. So any insurance company can connect the platform to become the part of Insurance Digital Ecosystem. Their main aim is to create a win-win insurance whereby you get instant claim payment,  fair and transparent dealing and friendly prices. They are also helping insurance companies to reduce costs (it can be reduced from 15 to 25 %) and get their business on a new level. Also, they are powered by Smart-contracts & Socratus Oracles. It means that there is no more solo human decisions to pay or not to pay, no more lingering manual claims handling procedures.

Oil prices I guess has nothing to do with the price of Bitcoin. Basically, what affects the bitcoin price is simply the demand and supply in the market. If more and more people are going to invest in bitcoin and other cryptos, then that would make the prices go up since the supply in the market is getting lesser. That's how crypto and altcoin works it is not dependent with the oil prices.

You are very funny, the price will not affect bitcoin, unless the rising price will affect people to sell bitcoin,
that will have an impact on bitcoin prices, as many sell and buy less.

Yes Correct . there is no relation between OIL and BTC . this question has nothing to do with real markets work up .

there would no effect to the economy ofcourse , bitcoin is working without the help of any oil related product, even mining there is not oil that concern of the transaction of bitcoin so they are not compliment in the market.

The simple analysis is that if oil prices go up, the world economy will go up, and so will the BTC. So when the world economy is good, the price of BTC will definitely go up.

I think bitcoin and oil are inversely  proportional to each other as what i see in the statstics of oil and bitcoin. When the oil prices increase the oil drillers also increase unlike bitcoin. If the bitcoin will not vary about the price themselves and also when there are lot of miners bitcoin will be statisticaly down. Thats why its inversely proportional.

I slightly disagree, you need oil to create energy and energy to mine bitcoin. Sooner or later we will see alternatives to oil and gas as solar energy but we are far from there at this stage.

I don't think the decentralized bitcoin will get affected by this situation, and besides cryptos and gas has no thing that makes them conneoto each other. Can you tell us your idea about this?

There is no relationship between bitcoin and oil. Bitcoin is digital currency and oil is not currency. That's nothing happen to bitcoin if the oil goes up.

In my humble opinion, I do not think that there is any correlation between the oil price hike and Bitcoin market activity at all. What I know is that the price of oil may have some effects on the fiat currency but not Bitcoin or any crypto currency. 

I do not see any connection between BTC and oil . Fiat and oil are linked exactly, but oil and BTC, as if from different planets

I also do not see any connection between the prices for oil and Bitcoin. naturally, nothing will happen even when the oil will be extremely expensive. IMHO.

I think that Bitcoin is not having the Direct dependence to the price of oil, but also I saying that almost everything difficult even that is taking place on the face of the Earth is able to affect the price of it.

I think that they are not relating to each other. Bitcoin only slightly affect the oil price and so do oil. Do not expect much change when the oil price goes up. I think that the government and Fiat have more effect on the price of bitcoin. As you can see, if the government decided to ban bitcoin, it will cause a huge mess around

In my own opinion, does not even care about how the market price for cryptocurrency works because the price of bitcoins is always depending on supply and demand.

not anything I guess due to the fact btc remains on its cost which is so volatile. The simplest thing might be tormented by oil charge is going up is the fiat money and other commodities in an effort to going to take a upward push also in market charge as the authorities will do the regulation on its marketplace charge.

I sincerely don't perceive any association with Bitcoin for this situation, and if the costs of both reacted comparably in some ways already, it's presumable incident. I may have missed something essentially, yet that is my conclusion. I'm occupied with perusing your hypothesis. On the off chance that it's persuading and influences me to take a gander at the circumstance distinctively as far as Bitcoin, I will Merit your hypothesis.

I genuinely don't perceive any association with Bitcoin for this situation, and if the costs of both reacted comparatively in some ways beforehand, it's imaginable fortuitous event. I may have missed something generally, however that is my assessment.

Oil costs I figure has nothing to do with the cost of Bitcoin. Fundamentally, what influences the bitcoin cost is basically the request and supply in the market. Assuming an ever increasing number of individuals will put resources into bitcoin and different cryptos, at that point that would influence the costs to go up since the supply in the market is getting lesser. That is the way crypto and altcoin works it isn't needy with the oil costs.

It shouldn't have enormous impact on the bitcoin. In any case, for beyond any doubt it's not exceptionally supportive, on the grounds that the more cash are spent to purchase oil, the less cash there is to spend on bitcoin. Be that as it may, if the bitcoin has a steady request from individuals who buy it with other crypto coins, it shouldn't be an issue.

Yes I also do not think that anything is going to happen to bitcoin price if the oil price is going up, I think that only the interest of the people and their investment can affect the bitcoin price or anything related to bitcoin will put some good or bad effect on bitcoin price, otherwise no other thing will put any effect on bitcoin price.

Expensive oil means expensive goods (the price of fuel is always pegged to the price of the goods). High prices can only be with growing economies. With the falling - the consumption of goods decreases, and hence the decrease in demand for oil. Bitcoin is a speculative tool. With a slowdown in the economy, it will grow, the captain will re-train their real economy in speculative (in the absence of other factors of influence).

Well, I dont think that the price of oils has a connection for the bitcoin price 😂. But i just little bit curious on this topic.Well, I guess it's just like the price of foods or other goods now. It's start rising so the salary of each employee must need a increase from the company.Because of course , all of our needs was rising it's price and our expenses is going high.Our old salary is not enough to sustain our needs.

I do not think that the increase in prices of food or other goods would immediately affect the increase in salary. It seems to me that it does not work like that. And what if the price falls? Companies also immediately reduce salaries for employees?

That's  the things where people have its own opinion about certain issues, the increase of demands might affect the value of our investment, but with
commodity and crypto currency I still don't see relevance aside from big players that have a good insight with money making process.

These two aspects will not be intimately related to each other and they will not have much influence on each other, I think the BTC is only related to banks and gold. Oil prices are not affected

Exactly. The rise and fall will not affect much other areas. However, the financial fundamentals of electronic money are increasingly strong. Will accelerate the economy fast, so BTC does not affect the gasoline is possible.

If oil prices increase, I believe that bitcoin prices will also increase, you can see that the market is fluctuating continuously and bitcoin prices are constantly adjusting over time. So at this point in time, I believe you can start investing in bitcoins, as the economic downturn takes place. Crude oil prices are likely to rise and this will boost bitcoin prices and the crypto market will grow strongly.

Oil price will not contradict the value of bitcoins because they have different genre of market, bitcoins is a cryptocurrency so it will always grow depending on the supply and demand in the market.

You can see that the price of bitcoin in recent days is continuously increasing and developing strongly, I believe that these are very positive signals from the market, can see that bitcoin prices are continuing to rise momentum. and is heading for $ 8200. According to my analysis, bitcoin prices will continue to increase by $ 1,000 in the coming days.

Well if the oil price goes up, people will have to spend more on oil to keep the vehicles running and hence the money that is not available for investment in crypto currencies like Bitcoin will no longer be there and this will lead to under investment.

The oil prices and Bitcoin can be linked this way as well. But it is unlikely for the cartel to rise the prices because they have international agreements for specified period of time so we do not need to worry.

i dont think oil price changes does not have an effect on bitcoin price movement at all.
and i think Bitcoin dont have a huge role in the economy as of the moment. Maybe in the coming years there will be changes on how government see bitcoin works or can help the economy.
But as per individual investment ,Bitcoin certainly can make a big change or impact.

Now, I don’t know what is this all about and what connection between bitcoin price and oil is. This is up to you that you have made this opinion so you must know the backend of this as well. You better show up the evidences or something that can be shown and we understand against them that okay there is a solid relation between the price of oil and bitcoin.

according to my simple thinking if the price of oil rises then the price of oil will also go up, because to do bitcoin mining required a large power source, and the power source is generated one of them from power plants that use fuel oil

In the event that oil costs increment, I trust that bitcoin costs will likewise build, you can see that the market is fluctuating persistently and bitcoin costs are continually modifying after some time. So as of right now, I trust you can begin putting resources into bitcoins, as the financial downturn happens. Raw petroleum costs are probably going to rise and this will help bitcoin costs and the crypto market will develop firmly

I have the same sought of feeling that there should be no connection between Bitcoin and the oil price but if we get the price of one commodity high and we have to consume it anyhow, then the demand for additional expenses has to be reduced to meet the need of the required product. Oil has the same status and if the prices goes up, the income flow towards it also goes up for we cannot stop using it, thereby reducing the demand for Bitcoin due to reduction in saving.

These two categories are not related to me, the BTC's rise or fall is due to user demand and confidence in the cryptographic market, the increase in oil prices will not drag the price of BTC increase.

I think when oil prices increase, it only affects the price of copper bitcoin a little, does not affect much.

Oil is natural source of energy and this is totally a different domain. How can you be connecting these two different and outlier tasks here? According to my understanding, that can be wrong, oil and bitcoin are totally independent things and their payment interaction are totally separated from each other. Why you have talked this in this way, I am really wondered.

If you see it from technical point of view, then yes demand is an immense factor that impacts price and investments ultimately. Things aren’t that much right in your account if your fellow investors are continuously disturbing the market. For this, everyone must keep their minds firm and relaxed so that things can be following up your strategy and better plans.

btc is no way connected to any international commodity whether it is oil or gold bitcoin is decentralised currency which is independent of government and central banks

I believe the economic downturn will cause oil prices to increase and bitcoin prices will increase, you can see that the bitcoin market is very potential for investment and every bitcoin exchange is a hidden exchange. So security is absolute. Therefore, I believe that bitcoin prices will increase in line with crude oil prices.

I don't think that the oil price increase will also affect the btc or the price of btc. I don't see any connection. Maybe perhaps if commodities increase their value people would invest little in bitcoin or other cryptocurrencies like this oil price if it will increase there also maybe a small impqct but not directly connected.

Oil production started to outstrip demand, there was a decline in oil prices. Now it is not much profit to exploit as before, so the production is reduced to bitcoin, then after mining many will be restrained the number of bitcoin miners have excavated digging less bitcoin

I don't think there is a direct relationship between the price of oil and the price of bitcoin, because there is no correlation, that if rare oil will make difficult to earn bitcoin right? so in my opinion it will be difficult to find a relationship between bitcoin and oil

Can explain this way. Gasoline prices rise -> high inflation. It will greatly affect the trend and value of bitcoin and crypto. I think market value will increase if gasoline prices rise.

I don't see any correlation between the oil price and cryptocurrency price. The cash flow between the two seems very separate. Both are affected only by their own supply and demand. The only relation they have would be how much you're going to pay for gas with equivalent amount of crypto.

Me either as I always see cryptos and economics differently like even bitcoin surge it doesn't have direct effect to it so i don't see where are you coming from. And OP, I wanna hear out your theory about this like maybe I missed something tho. So have a follow up post regarding this.

I think it depends on how the country builds power plants, what percentage of capacity is produced by petroleum power plants and natural gas compared to total capacity. If the percentage is small then it is less affect to the bitcoin price. We take the example in the US, but not this year, in 2016, the percentage of capacity produced by petroleum power plants compard to total capacity was 3.35%, while the natural gas was 43.54%. The both number is large because almost half of the total capacity of energy produced, and of course it will significantly influence to the price of bitcoin. The price of oil and natural gas rises, the price of electricity rises too. The price of electricity rises, the cost of mining bitcoin will increase too, thus resulting in rising bitcoin prices.
source: https://www.eia.gov/electricity/annual/html/epa_04_03.html

What's the connection ?. Bitcoin and oil ?I think you're not well aware about bitcoin i never heard oil price can effect on bitcoin price.

The growth of oil prices will have a positive effect on the economy of the oil producing countries and vice versa, respectively. In the market of crypto currency it doesn't affect in any way.

I can hardly imagine what is the dependency with to those things, it is kind of similar for me like that topic which says that cryptocurrency price will go up when the world wide cup of soccer will end.

I don't think something will happen to Bitcoin, I think there will be no effects on Bitcoin if ever there will be any changes on the oil price. I believe that the price of the oil has some effects on fiats and not on cyrptos. I just don't see any correlation between Bitcoin and the oil price hike.

Its just a digital currency and in order to access we have to use internet connection.Oil is just a viscous liquid derived from petroleum. No big connection between the two.

Show the price and the bit for the following link for much. The price of the price will be only, the interworking is only then one. Bitcoin depends on the other elements

If oil prices rise, bitcoin prices will also increase, but not significantly. The market price of oil, though, is going up, and bitcoin prices are going well.

These two areas are not interrelated and they work in isolation, in my opinion, in the future, the price of BTC will increase and the price of oil will decrease and vice versa.

The opposite thing will happen . The bitcoin price will going deeper an deepr because it affects the oil price while the oil price will be increasing and will double the btc price .

we need to learn intermarket correlation analisys if we want to find it.in my opinion it has undirect correlation between cryptocurrency and commodity market.usually fund manager always find new portofolio that give them profit.

I Don't get it since when bitcoin and oil start effecting each other?
Bitcoin is just online digital currency better know internet currency where oil is just a materiel of  green moss, human hair, sand, natural sponge, sawdust and wool.
What's the combination of both ? Maybe someone gives you false knowledge about bitcoin there's no connection of bitcoin with oil.

I believe that the bitcoin price could rise by the price, you can see that as the economic crisis unfolds, inflation comes, when the currency devalues, the government and the government inject more money, that makes People have more money and then they need something secret and valuable to hoard and I believe they will find a bitcoin. That will increase bitcoin prices.

I don't think there is a connection each of them. First of all, cryptocurrency is a new in economy and can't measured with oil. Secondly, they are not related to each other and can not back up each other.

   There is no relation the  increase of Oil price value to Bitcoin price market on crypto currency market, Market is Volatile, anything can happen at any given time during the trading market, Bitcoin is Decentralized crypto currency system, secured by Blockcahin hardware, maybe it will be affected by the decrease in the volume of investment by the investors in the market, but still no relation.

I really don't see the correlation between crypto or btc to oil price but technically it will have a big impact in economy in different countries it is like a domino effect wherein since oil is being used to ship goods then merchants will also increase the price and afterwards people will suffer. There are many example with this matter but this is my share on this topic.

With the current situation I think crypto's market behavior will depend on the current news/trends.

Oil prices are related to crypto prices? if it yes it would affect too much because the price of oil are depending to its supplies and the prices of crypto are depending on its investors so if the price of oil in any country are going up the investors will dump their investments and crypto will dump its prices too because many investors are using oil and it will goes up their invested will affected.

I don't really see how the oil price could reasonably affect the price of oil. Unless of course there is a major international crises which causes both the oil and the bitcoin (and probably gold) to rise in price.

that is not good reason, and i think no correlation between it.it is hard to analize correlation oil and bitcoin price.need intermarket analisys to find the answer.

Well there are a lot of documents that say the fluctuation of gold and oil is related to bitcoin. Actually, there are many factors that affect bitcoin because the value of the bitcoin is entirely influenced by the voin. The value of bitcoin is unpredictable and unstable

You have wrong. Demand and supply depend entirely on factors like good news and bad news. Rising oil prices mean that gold prices are rising. The price of gold increased, causing large numbers of people to hold gold to sell gold and to transfer money to the electronic money market and buy bitcoins, which made the bitcoin prices soar

Oil's price is independent of other assets because it is a commodity that is used for its own purposes. If it gets really high, people have to pay more money at the pump for their fuel. People working in the oil industry will become rich. Maybe, just maybe, some of those people might buy bitcoin. But highly unlikely.

There is no correlation nor relationship between oil, gold or bitcoin. High oil does not mean high gold. Some abstract theory may connect them but there is no evidence. Oil is oil, bitcoin is bitcoin. That's all there is.

And what's your theory?

I don't see any connection between oil price and crypto so it's not matter what the oil price is at the moment as the demand of crypto won't change. Commodities such as oil will affect your country economic such as the price of food etc. If they somehow use bitcoin to buy oil in a large volume then it may be affected crypto price.

I think there is no relation on BTC if the oil price goes up.
Maybe, the laws of supply and demand cause oil prices to change. When supply of goods and services exceeds demand, prices fall and the inverse is also true, as the price of a good increases the quantity demanded decreases therefore, the excess supply of oil caused oil prices to fall sharply. I was wondering,
How the price of oil is determined? any ideas?

I think there is absolutely nothing, both move in different fields.
oil does not affect bitcoin and vice versa.

Maybe oil prive impact to condition economy but i dont thing it will give impact to cryptocurrency price because if i not mistake its not related. Cryptocurrency is digital asset and store of value and its very different with oil. Oil is commodities and the supply controlled by producer country and bitcoin have limited supply and not controlled by any government or authorities

I think there is no relationship between world oil prices and the price of bitcoin or other crypto currencies, because the value of bitcoin is very easy to change

I think that oil is affecting the price of everything around but I don't see the Direct dependence between those two, so maybe it will not affect it no way. Especially when I will buy myself an electric car, lol.

Oh I think I've figured it out! Oil's price affects the number of hipsters who buy Teslas, and when hipsters cash out of Bitcoin to buy Teslas, the price of Bitcoin goes down because everyone is selling their coin! So if we have a low price of oil, hipsters with HODL 'till their brains bleed, no matter what the cost! Come on sanctions, trade wars, and random antagonism in the Middle East!

I don't think that there is a direct relationship between them.

But, indirectly oil prices effect countries economy, which leads to spikes in stock/share market,
which may effect crypto prices together with countries new economical state.

I believe that oils price doesn't have any connection between bitcoins price because oil is not like a fiat currency and cryptocurrencies. So even the oils price will go up or down it will not affect the bitcoin's price.

I also don't see direct connection between this two things, those are two different fields. Maybe if bitcoin is going to be used as a payment method for purchasing oil, maybe they correlate. I read some interesting ideas and thoughts here but I think that they could produce micro, not macro effect on crypto currency prices.

The oil companies have different market with cryptocurrency market , if is there is an adjustment in oil price value in the oil market, it does not really affects the market value of bitcoin and other crypto currency coin in the market cap.

I believe that in order for bitcoin prices to rebound at this time is very difficult, you may find that the market is bearish in the long run and bitcoin prices will likely continue to fall sharply at any time. Prices of altcoin are also very strong so I believe that it is very difficult for the market to recover and it takes a lot of time. I believe that the market capitalization should be at $ 800 billion at the new $ 20 billion bitcoin price.

I dont think these two have any relations.
The only thing may happen is when the oil price gets boring and people lose interests in oil so they switch to invest into crypto. Then bitcoin will have some positive movement.

Nothing happens to Bitcoin, it has no connection with oil, Bitcoin is a cryptocurrency. There are things that determines the price of Bitcoin and not stocks or assets or whatever you may think, the only thing that determines the price of Bitcoin is the rate of demand and supply, so everything that has to do with Bitcoin in terms of determining price and value is here.

I also think that the increase or decrease of oil price cannot effect bitcoin price. May be in such countries where bitcoin has become a legal currency will effect bitcoin price but in such places where bitcoin do not have any relation with the economy of the state.

If the price of oil rises does not seem to affect the bitcoin price.

As far as the price of dollar can affect Bitcoin a don't see any reasonable argument behind it being dependant on the price of oil. There is just no connection whatsoever.

 As oil prices rise, assets fall. Traders and investors will look for an alternative, may show interest in bitcoin. This will give a new impetus to growth.

Hey guyz As we all know crude oil is listed in forex exchange for trading purposes. if the price is rising of oil than it may attract investor to invest more. but i don't think it effect bitcoin price at all. because both things are totally different.

I don`t think there is a connection between BTC and oil price. Both of them are in different areas, I mean oil could work without bitcoin and bitcoin could work without oil.

There is no straight connection between bitcoins and oil price, cryptocurrency has different market while oil is in stock market but what they have in common is demand and supply which makes their price increase.

if in my opinion, maybe not too influential because I know. whether or not the price of bitcoin is determined by the person or the largest shareholder and also gold (many people say). that's all I know

When the oil price hike in the oil market then the price will goes up , it does not affect the price of bitcoin because the oil market ,have different world ,in comparison with cryptoworld and the bitcoin market, so it will run at different business independent to each other.

It clearly does not make sense. Oil is far from crypto currency even though the prices of goods affect the stock market. Stock market is a lot more different from crypto currency. People who invested in bitcoin does not think in rhe price of the goods such as oil in investing that is why there is no connection at all. More probably it will result for a better outcome if people who invested in stocks will go to crypto because of instability of stock market and this is a good thing.

I don't have ideas if the oil prices will goes up it will affect bitcoin price too because each both prices are different from each other if the bitcoin prices goes up the oil price goes up too?? what you should think it will affect too much from the beginning? I don't think so that will happen so for now I wan't to gain knowledge about that thing.

these are different topics. oil globally is a situation that affects the manufacturing sector. if oil prices and oddities are made over bitcoin, then it can only be an effect. there is no connection except this

I don't think btc and oil are somehow interrelated. Oil has nothing to do with the price of bitcoin.
Bitcoin in general is such a unique phenomenon that depends only on the demand of people using it.

but it's money flow can give big impact.for example if oil investor move their money into crypto.it can be affected in oil and crypto price.

Are you joking ? oil price movement never affect the price of crypto currency in the market because crypto currency is not related to the world economy because as I know crypto currency is a decentralized aspects and the price of it is depend to the crypto users, crypto whales and investors.

The price for bitcoin does not directly depend on the price of oil.  But perhaps an increase in the price of oil will help raise the price of bitcoin.

btc and oil is different investation and i think the effect of oil price up it doesnt matter to btc price , the effect maybe will get is some investor will change their invest to oil rather than btc

I think if the oil prices goes up, people are going to sell off their BTC to buy petroleum based products if needed, like gasoline. And when they sell their coins, bitcoin price goes down. Although I haven't seen a significant increase in oil prices to make it so.

is oil have an big influence on the word economy so that it can make major changes to economic conditions and market prices, thus affecting crypto prices? how important  is oi? are there any other things that cam change things like oil

i  think it is unlikely that as in these industries approximately the same investors. Some investors on wall street do not consider cryptocurrencies for something worthwhile. Remember even the expression of Warren Buffett about bitcoin. Therefore, it is unlikely that raw materials so affect high-tech development.

i don't think it has anything to do with the development of Crypto. investors are now afraid to invest in oil, because America invaded the economy and the Venezuelan government policy that made investors invest in it.

Two thing you stated above is not related, if bitcoin prices goes up when oil prices going down or vice versa, it's just coincidence. Two of them have different market.

I never thought about it and did not pay attention to it, it's very interesting. It is necessary to conduct an accurate analysis as far as possible and then maybe we will see a trend.

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.

Nothing will happen. why there is any effect of oil prices over the BTC at all? There is no relation between the crypto currency itself and oil commodity because they are already in two different environments and thus they will never hamper the prices of each other. Oil price depends upon the centralised control of the government and also depend upon the big stuff like international trades, sells and purchase, import and export etc etc. Whereas BTC itself is decentralised one and it depends on the investment of users and not whats happening with the oil in the world.  :D

I think what he is trying to say is that if the price of oil goes up, same goes for the cost of electricity and transport (depends on where you live). If cost of transport goes up, then all kinds of you can buy in the wet and dry market will eventually goes up to. If this is the case then the miners who just using their PCs to mine will need to adopt a small price increase thus transactions fees will go up. I think this is how he/she think what will happened to BTC if the oil price is move.

I do not know if the oil price and oil price are related, but certainly, if the price of oil rises then the price of basic necessities will rise, and there may be a weakening of the currency exchange rate, but I hope that with rising oil prices will have a positive effect on prices. btc at the moment, and enjoy fresh air on the current market

I don't think that it will affect crypto in any possible way because it is kind of independent area in relation to financial markets and oil I believe. Another thing is news.

The increase in oil prices's driven by the existence of policies for cutting production and exports from oil-producing countries. In addition to trimming, other factors that boosted rising prices were the growth of oil consumption in the United States, Europe, China and India.

This price increase is certainly encouraging for the oil and gas industry, especially oil producing countries. Rising world oil prices will have a direct impact on the growth of national gross domestic product. Means rising world oil prices have nothing to do with cryptocurrency.

If the oil prices in the oil market will goes up ,there is no relations to bitcoin in the voin market cap if it will also goes up, the price value of bitcoin in the market is independent with the oil market price, so I think nothing could happen.

Thats right, there's nothing to worry about if oil prices rise, unless bitcoin uses fuel oil for its use lol, bitcoin and oil won't correspond,
if oil prices rise maybe other related items such as using fuel oil will rise, but bitcoin no

I don't see a connection between bitcoin and oil prices. They are completely separate. Bitcoin prices depend on supply and demand of investors. Oil prices depend on the governments concerned, and both are used for different purposes in society.

Well there is seems no direct connections between oil and crypto, but i do think there might be a connection. When the price of oil increasing it could affect dollar price and in some way it could affecting crypto price. There is even a coins that backed by oil such as petro. But i dont see petro have any use and seems like a scam by president of venezuela, but if its really backed by oil then i believe oil will affecting crypto price.

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.

bitcoin and oil have no price relationship. bitcoin rises, it is caused by many requests because of good news about bitcoin such as halving bitcoin. we know every bitcoin, bitcoin halving will rise

Yeah you are right, there is no direct relationship between bitcoin and oil, items and product can increase in price as a result of oil that continues to rise, electricity can also more expensive because of that, but if we see the effect it will not affect to crypto itself, so I think there is nothing to worry about when this happens

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.

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.

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.

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

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 .

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.

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

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.

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.

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.

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.

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.

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

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.

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.

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!

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.

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.

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

Oil is not used for production of electricity, so why should it correlate with the crypto market?
Yes, there have been attempts to attach cryptocurrencies to the price of barrel of oil (OilCoin or Venezuella's El Petro), but they were not massively adopted around the globe.
The value of cryptocurrencies is dependent solely on demand/supply and the news around the blockchain technology, it has nothing to do with the prices for natural resources and precious metals.

Oil its not related to cryptocurrency so whenever it does up or down it cannot changes any movement of a Bitcoin. So surely Bitcoin nothing to happen even the oils price hikes because they are have big differences to each other. But when the oils price hikesit will affect to our economy because many people will affect especially those have no enough income to support for their daily living.

I suppose that these things have no connection at all. Each time I was trying to make a parallel between oil prices and Bitcoin cost I failed always.

Oil is related to just about everything, all kinds of chemicals are derived from it and plastics we use and eventually even the cost of all energy can relate to a high oil price.   Higher oil will raise the cost of natural gas because all prices are related to some extent.

The reason why oil is related to virtual Bitcoin even is the cost of processing involves alot of energy usage.   As much energy is used to confirm BTC as is used by Nigeria, a nation of 160 million and a major oil producer

You right, there is no direct connection between cryptocurrency and oil so it will not affect each other. when the production of environmentally friendly cars was made massively, followed by other technologies that did not use oil as fuel. of course it will affect world oil prices, because there is a direct relationship, different from crypto which has nothing to do with oil..

The cryptocurrency and oil have no one connection. even when the oil becomes extremely expensive, it will not affect the price of Bitcoin and altcoins.

there is no connection between bitcoin and oil, bitcoin is yes bitcoin oil is oil. they are different and there is no relationship with prices, because the price and future of bitcoin is difficult to predict. surely if oil and bitcoin were related, it would have pleased many people, but that made no sense.

I think any oil price hike will have no effects on bitcoin or in the crypto market price. The price of the cryptocurencies will only get affected when there an event or development related to them. Bitcoin price is not linked to oil price  and other prices of commodities unlike the national currencies and economies where oil is traded used.

theres just no any connection between the oil price hike and the price of bitcoin but however, if arab people will able to legalize bitcoin as a part or somehow a mode for payment then maybe this time, connection will be occur between these two.

Oil could have affected Bitcoin, if it (BTC) were part of our everyday life. Like the same dollars etc. And so, I do not see a special connection to be honest. Of course, in some ways it may affect the price, but these are extreme consequences and nothing more.

- Agree that looking at a general perspective, the price of oil and bitcoin has no relationship here, both very different. However, if we analyze more deeply on this issue, we will have other thoughts, we can understand that the price of oil increases, which means that the tax will increase because many countries still buy oil from other countries, the price of oil is too high will make the economy of the people in their country go down, and low income, high taxes, I don't think people have enough money to invest in bitcoin, the value of bitcoin will have a decline

That's right because if oil prices soar does not mean that bitcoin will also soar, because bitcoin and oil have nothing to do with it at any time while they support each other

not too much effect on btc, the thing that can have a big impact on bitcoin is etf. but I'm also not sure that this will be realized. so just wait, but I'm sure bitcoin will continue to rise.

Mining does not need oil but only electricity so they won't affect btc. But we know that oil affects all the primary goods and services so we can expect an indirect added cost to the fares that will also be passed to the mining hardwares cost.

The only thing that I think if oil will rise in price and the price of gasoline and diesel fuel will rise! The rise in price of gasoline will affect everything else... Connection with oil and cryptocurrency do not see!

To say that there is a strong and direct connection between oil and BTC prices is not right for me. But I can't ignore weak connection between them. Because oil is used extensively in every country and oil prices always have an effect on the prices of other assets like bitcoin. For example, oil prices has a direct effect on electric prices and electric prices are important for bitcoin miners. If we take this example as a consideration, we can say that we might experience a very little decline on bitcoin price as oil prices get high.

means that you mean there is no effect on bitcoin, if the price of oil rises? I think that too, because prices are affected by demand and supply, and also news that is directly related to bitcoin

I don't understand if that connected or affected to the crypto-currencies but there are also projects that are related in oil or other resources thru crypto-currencies that you can gained a discount if you using their tokens or platform.

I don't think that has anything to do with the price of the crypto currency depending on the movement of the currency and investors who might influence the development of the currency

of course nothing will happen if oil prices rise, because bitcoin and oil have no relationship whatsoever. so when the price of bitcoin and the price of oil rise to each other there will be no impact on the two goods

There is no direct connection between the oil price and cryptocurrency price. But if we try to predict the result. i believe that cryptocurrency price will go up. Here are the reasons:
1. Investors will be hesitate to invest on oil when the price is high.
2. When oil price goes up, there is big chance that coal and electricity will go up. Mining cost will rise.

Do they correlate at least somehow? I think not. If there are such movements, it is only because the mood of the markets coincides. The cryptocurrency market (and Bitcoin in particular) is not yet similar to other markets. Cryptocurrency is too unpredictable and can behave very different from general trends. Therefore, no one knows what will happen to Bitcoins, if the price of oil goes up.

is there any effect if the oil price up and the price of bitcoin goes up? in my opinion there is no connection between cryptocurrency and the oil business.
Bitcoin prices up if there are many investors who buy.

There is always going to be some connection, its about correlation % matching between the two though.   There is no direct link like perhaps airline fares and oil price can be said to have a direct link.

However both Oil and BTC relate to globally traded assets so there is a link.    Both are inverse to US dollar, as the worth of dollar rises the price of both these trades has a greater worth to every unit hence price might fall.

Also there is a relation to global growth, GDP and also BTC as people will more typically use BTC with spare cash.   Also oil prices rises as more industry growth demands its energy is usage.   I strongly disagree they have no relation at all

I think there is correlation between oil price and cryptocurrency price. If oil price rising, i think it will affecting to world economic. Many goods price will increasing and i think inflation will increasing too. But i dont think oil price rising will affecting to crypto price

btc is no way related to oil prices or any commodity prices btc is independent of any socio-economic events it purely depends on mathematical formula and hype of bitcoins news

If BTC price goes up, the number of new comers and new investors will increase as well, and the trading volume of Bitcoin will increase obviously, as a result. This will make BTC even much more attractive, and it will help to get the whole crypto market stable.

Yes it will be definitely profitable for BTC if the oil price increases then the people in the country will gain more income from that so it made them to invest and Bitcoin then only the Bitcoin will be developed like a pro so it could be a important thing also.

The questions is what is the correlation between rising oil and bitcoin prices rising? in my opinion there is no relationship between bitcoin and oil. when oil runs out though the internet will still run and you can still use bitcoin right?

Bitcoin is not a regular fiat currency that is determined by an economic condition, Bitcoin is not attached to any regulated condition than demand and supply. It doesn't matter to Bitcoin if the price of oil increases or not.

Oil and bitcoin has different market prices and they decided the growth of supply and demand. Oil has a great factor of demand and supply hence they are used on daily basis by everyone. In the cases of bitcoin we are almost there to be widely used by everyone as well, we just need more push for us so that the world will see on how bitcoin can change the financial payment system in the future.

I think so too, with market differences making both of them not related. but there is a country that is an oil producer, when oil prices fall, they experience a crisis so that their currencies become worthless, the solution is to replace fiat currency into cryptocurrency, it happens in Venezuela, but the way was taken because their fiat currency was worthless

This would imply that dollar will be de-esteemed, oil costs will be worth substantially more dollar and consequently bitcoin costs will likewise ascends because of increment in dollar rates.

Precisely what I was reasoning excessively that there is no connection among oil and bitcoin costs. The main think I see here is that the oil costs may rise not due to lack of Oil but rather on account of degrading of Dollar .

I think there's no relevance between the oil price and BTC price. It depends if a big investor of crypto is also an investor in oil market and they will withdraw a big amount of BTC to make up for their loss. However, there's no direct connection between the two.

there seems to be no change if oil experiences a large price increase because bitcoin and oil have nothing to do with it. so that the two will increase in price individually because there is no slight impact on both

I am agree there is no direct connection between oil and bitcoin. Oil price maybe affected by politics and manufacturing production and its not related with bitcoin because bitcoin is cryptocurrency.

oil prices and bitcoin prices will never be able to have a relationship, they have very different characters and when the price of oil experiences an increase in prices it will not have an impact or influence on the increase in the price of bitcoin.

so it won't have a good impact and doesn't have a bad impact on bitcoin.

Why not ?  If oil rise people will strugling to buy it but they will still buy it because oil is pretty important , we use it on our daily life  especially for cooking our foods  .   now if people bought the oil in high price , people wont now have the ability to buy bitcoins and even other cryptos  because they dont have enough cash anymore  .

OIl is commodity and in few country, bitcoin is commodity too. I dont think oil price impact on bitcoin price because its very different. Oil is depend on world economic growth and bitcoin is peer to peer transaction cryptocurrency.

I think cooking is a routine, so that those who have large scale oil use are industrial. even so, I think that between bitcoi and oil has nothing to do with it. because both are different types of investments