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

[conected]

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.

- 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

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[Anies_Sandi]

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?

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.

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

[biskitop]

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.

[BLAST2MARS]

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?

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.

[cr7]

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!

[hxtop]

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.

[wahyu wida]

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!

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

[YuiAckerman]

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.

[poldanmig]

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

[avarnet]

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

[jerry7788]

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?

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.

[Mikky.Crypto]

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.

[Triwiyono]

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.

[STT]

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

[Burogh]

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

I think there is 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

[superstarbtc]

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

[dzhan]

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.

[whirlcoin]

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.

[iMark]

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?

[3core]

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.