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Author Topic: What happnes to BTC,if the oil price goes up?  (Read 1376 times)
Ayush rana
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September 04, 2018, 04:50:31 PM
 #421

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.

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September 04, 2018, 06:24:32 PM
 #422

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.  Cheesy



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September 04, 2018, 07:40:09 PM
 #423

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.

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September 04, 2018, 07:46:10 PM
 #424

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
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September 04, 2018, 08:45:57 PM
 #425

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.

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September 04, 2018, 09:32:30 PM
 #426

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.

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September 05, 2018, 01:30:58 AM
 #427

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.
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September 05, 2018, 01:59:10 AM
 #428

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

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September 05, 2018, 02:59:28 AM
 #429

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.

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September 05, 2018, 03:31:03 AM
 #430

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.

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September 05, 2018, 05:50:49 AM
 #431

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.

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September 05, 2018, 09:30:51 AM
 #432

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


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September 07, 2018, 12:28:09 PM
 #433

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.

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

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September 07, 2018, 12:44:13 PM
 #434

To be honest, I do not see any correlation between the price of bitcoin and the price of oil. Rather, the price of oil will affect on fiat currencies. The price of bitcoin depends on many factors, and when the market is firmly settled by institutional investors, there will be even more such factors.

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

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September 07, 2018, 12:55:44 PM
 #435

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.
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September 07, 2018, 01:30:58 PM
 #436

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

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

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September 07, 2018, 01:36:17 PM
 #437

I think there in no connection in between oil price and bitcoin price. Oil price is controlled by centralized authority where bitcoin is decentralized.
Bitcoin price is only be affected by Oil price if OPEC nations accept bitcoin as a payment option for selling Oils to different nation. Otherwise there is no connection in between oil and bitcoins.
There is some connection between every traded asset but BTC especially uses energy and must justify its usage to some extent.  Higher oil effects gold also, similarly it uses alot of energy in mining and consumption and there is a classic ratio between the two held and studied over many years.

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

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

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alfs75
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September 07, 2018, 02:12:57 PM
 #438

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

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

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amber deposit
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September 08, 2018, 02:55:02 PM
 #439

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.
BitTraderCute
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September 08, 2018, 02:58:37 PM
 #440

honestly, im trying to research the website but i never see any relationship between a bitcoin price and the price of oil. I know that the price of an oil really will affect the fiat currencies. and the price of bitcoin depends on many factors. and when a market is successfully organized by professtional investors, there will be more factors.
that 's wrong dude.investor always have several place to put their money.maybe in stocks market,commodity, forex or even in cryptocurrency.if oil price goes up meanwhile btc down, they would switch their asset investment to oil in order to gain profits.we need correlation intermarket analisys to understand it.

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