What happnes to BTC,if the oil price goes up?

[stellgod]

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

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.

[dioanna]

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 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.

[anntlevel]

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.

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.

[ucingucingan]

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

[sheryl26]

The oil price is going up and many people expect it will go above 100 USD per barrel,or even 120 USD per barrel.How this will impact the world economy and the cryptocurrency prices?
I have many own theory about this and I will share it later,but know I'm waiting for other opinions.
Is this good or is it bad for bitcoin?

In 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

[jayhawk1]

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

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.

[@hosimanaka]

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.

[AndreaPhillips]

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

[robotrobert]

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.

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.

[zeaderza]

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

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.

[btcblockchain]

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

[alibaba93]

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 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.

[Lintel]

The oil price is going up and many people expect it will go above 100 USD per barrel,or even 120 USD per barrel.How this will impact the world economy and the cryptocurrency prices?
I have many own theory about this and I will share it later,but know I'm waiting for other opinions.
Is this good or is it bad for bitcoin?

I don't 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.

[MedicineVNT]

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

[mornabo]

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?

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.

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

[dire-2002]

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.

[Renai0925]

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.

[PETES]

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.

[andriw]

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

[Guideare]

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.

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.