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

[Nagyyssa]

The price of oil and bitcoin is not connected in any way

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[jeluhtajem]

I think, it has absolutely nothing to do,
between soaring oil prices and bitcoin prices.
they are much different, and do not affect each other. 

[cfif123]

because the bitcoin and oil have nothing to do with rising bitcoin prices or oil prices and no effect

[SaiWAFU]

Bitcoin and oil prices are in different categories. Unless processes of blockchains are concentrated by one individual living in a country that electricity is generated from oil/gas. Then maybe it can have connections, but still I can't see it directly affecting each other prices.

Share your theory and enlighten us.

[jovs]

Bitcoin and the price of gas does not have a direct connection to one another. It may just affect the transaction made by people on buying gas or oil through bitcoin transaction and cryptocurrency. It may just reached to price changes on charges yet it does not affect entirely the system of bitcoin in the market.

[Hillthy]

The price of oil and bitcoin is not connected in any way

In terms of economics, I think there are a few correlations and effects. Oil prices increase, the value of rising commodities such as food and water, transportation costs increase, meaning that the economy will be affected by that trend. Value inflation will increase and people will find it difficult to economically save money to space for crypto and bitcoin.

[Shenzou]

I don't think that bitcoin and the oil price are related in any sort of way, they both have different markets and different investors, oil is something that is essential and with it having a somewhat of a limited price its price is always going to be on the rise, somehow bitcoin works but they both operate on different levels, because people who invest in oil are not the same people who invest in bitcoin.

[DonaldHun]

The price of oil and bitcoin is not connected in any way

In terms of economics, I think there are a few correlations and effects. Oil prices increase, the value of rising commodities such as food and water, transportation costs increase, meaning that the economy will be affected by that trend. Value inflation will increase and people will find it difficult to economically save money to space for crypto and bitcoin.

Your thoughts are reasonable but I do not think it can affect much to the value of bitcoin and the market. Or just an accident and will soon pass. That way, I think the upcoming Worldcup may affect the value of the market. Because it is the largest festival in the world and investors can take advantage of the environment and holidays to make more money.

[Bugsbey]

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 price of bitcoin does not correlate with the oil price in any way.
Neither it depends on the cost of electricity, which is actually generated by coal and gas (and nuclear plants or renewable energy sources to a lesser extent).
So even $150 per barrel would not impact cryptocurrency prices - they depend solely on supply & demand on the market and some political issues like regulation.

Yes you are right fellow. I am not an economist so I cannot really tell exact answer to the question but for me the oil price or whatsover product will not affect the price of the coin. It is just based on the demand and supply of the coins.

[popolite11]

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.

Yes, nothing will change. There is no single connection between Bitcoin and oil prices. That is why those guys that are in the crypto world may not worry about this problem.

[babaya]

it need intermarket analisys to know what will happen to bitcoin if oil price goes up.only expert in economy macro can analize this case.but i am sure it have effect although not big

[bangkit tri]

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.

Yes, nothing will change. There is no single connection between Bitcoin and oil prices. That is why those guys that are in the crypto world may not worry about this problem.

i think oil and bitcoin have nothing to do, but globally there must be a link between them. i think investors are faced with two options to invest. from there it will be split into two if the investor trading both

[ejandjm18]

I’ve been reading some sources about this topic and didn’t find any correlation of BTC and oil prices. But i think that crypto currencies that are directly using it may feel a bit movement. The value of the currency is from its supply not the price of the goods they exchange for.

[stellgod]

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.

I don’t so because the price of bitcoin also depends upon the investment ratio of the people and is not only proportional to oil price. Oil is the demand of almost everyone in this world because it is no alternate, while bitcoin is a coin business and for investment your money you can chose any sector bitcoin is not necessary. In my opinion both have different directions and there is no link between these two.

[Theo222]

i think bitcoin and oil will never be related to each other. bitcoin need electricity because it is digital and we can only use it in computer and cellphones. and theres no existing gadgets that needs oil in order to operate.

[zakariajaki]

a good topic of conversation, and my opinion as to whether the bitcoin price is affected by the ups and downs of world oil prices in barrels, I do not think that's the case with bitcoin, which I understand and observe the ups and downs of bitcoin affected by the politics of the existence and the folly of bitcoin itself and the second is influenced by the new altcoin that makes the project better than bitcoin, so altcoin is able to be the investor's attention to move from bitcoin, I think crypto big impact the price of ups and downs and the existence of crypto only on government regulations and investors while others have an impact but small effect, may be useful and successful for all of us

[ichai]

I’ve been reading some sources about this topic and didn’t find any correlation of BTC and oil prices. But i think that crypto currencies that are directly using it may feel a bit movement. The value of the currency is from its supply not the price of the goods they exchange for.

Yes, the correlation between oil price and BTC is absent, he wrote this topic almost 100% out of disagreement, I think he seems to be thinking about something in the market. and to BTC

[Hovhannes]

I think that all sectors of the economy are interrelated, and the rise in oil prices may have some impact on the cryptocurrency market.

[PHPSELLER]

I think that all sectors of the economy are interrelated, and the rise in oil prices may have some impact on the cryptocurrency market.

Honestly, I don't think that both of them are related, but from an economic point of view maybe they can be related. As you said, I think of the rise in oil prices, maybe it can affect the crypto market and bitcoin can rise, I am sure that what will happen in the future, bitcoin and oil prices will increase too much as the demand is higher later.

[Chrisjay29]

I think and im not sure on it. Bitcoin will not effect the price of bitcoin even though its goes up. Because the market of oil and bitcoin is too different in the market. And bitcoin also a coin circulating not like oil.