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

[AnisahSiti]

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.

[chel0]

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.

[LympoMan]

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 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

[Superzpay]

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.

[ichai]

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.

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.

[Gotomoon]

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.

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.

[charlzyeby]

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.

[Piesel]

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

[Bohxz M4p4gm4h4l25]

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?

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.

[The Sceptical Chymist]

I honestly don't see any connection to Bitcoin in this case

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.

[deppil]

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.

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

[geopolisch]

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 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.

[Ritaaa]

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.

[iram1011]

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 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.

[feehannah]

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.

[HaroldFinch]

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

[Persiville]

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 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.

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.

[Beymax08]

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.

[Lorence.xD]

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.

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.

[weiweianll]

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!