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

[maculeth]

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.

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[jaocoincrypto18]

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 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.

[daicavung]

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.

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.

[napi]

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.

[HolderLoo]

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.

[frowsiter]

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?

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.

[rainezerr401]

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 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.

[Indrawan77]

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

[taiwww]

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.

[carlozharz]

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,

[Rajamuda]

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.

[pinkpanther03]

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?

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.

[Barcode_]

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.

[yoseph]

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.

[CottonGuy]

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?

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.

[JoshMart]

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.

[tee-rex]

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 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.

[BaraxLo]

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.

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.

[barbara44]

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?

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.

[tee-rex]

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?

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 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.