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Red Fish
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June 07, 2018, 01:58:25 PM |
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Oil price can not go up very high, because there are a lot of oil in the world already, so it is may be short to mid term price change. Plus oil price can not affect Bitcoin due to fact that computer/asic hardware makes BTC mining, but not the oil/gas engine.  |
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Naficopa
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June 07, 2018, 02:02:40 PM |
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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. The increase in the price of oil will not affect the cryptocurrency market. The only connection could be a possible increase in the price of electricity and a possible increase in mining costs. There are probably no other dependencies. |
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xvids
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June 07, 2018, 02:07:23 PM |
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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?
Why would it affect the price of Bitcoin ? There is no connection between the two of them, To be honest I don't really think that it would affect the crypto currency price at all. |
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coinwizard_
Jr. Member
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Activity: 336
Merit: 5
Most Advanced Crypto Exchange on the Blockchain
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June 07, 2018, 08:20:08 PM |
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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 is a good question, and one which is rarely asked on this forum. I think it won't have any impact because institutional investors haven't put too much into bitcoin yet, so if they switch to oil, it won't affect the bitcoin price |
CRYPTOCIRCLEX | THE MOST ADVANCED CRYPTO EXCHANGE ON THE BLOCKCHAIN
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rocketbits
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June 08, 2018, 09:21:22 AM |
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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.
The price of oil depends on the production and demand, while bitcoin price depends upon the mining, availability and investment cap. As more and more people invest in bitcoin the price increases and when the investment ratio decreases the price also decreases. There is no link between oil and bitcoin. Both are different in range, need and market value. |
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ict
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June 08, 2018, 09:28:23 AM |
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cryptocurrent still crypto. i mean there are nothing happen to cryptocurrent, unless all of government sell or buy the oil with cryptocurrent.
in a fact, until now, bitcoin price affected by demand of market, maybe from news, and government moves.
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Tukang Becak
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June 08, 2018, 09:37:55 AM |
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Bitcoin will never lose popularity despite the ever-rising gas price, which in turn makes wallet providers eager as rising gas prices will be a huge income for them.
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tee-rex
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June 08, 2018, 09:47:52 AM |
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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?
Why would it affect the price of Bitcoin ? There is no connection between the two of them, To be honest I don't really think that it would affect the crypto currency price at all. The correct answer to this question is it all depends. All in all, it depends on the reasons which are driving the prices of both oil and Bitcoin in either direction. Obviously, these reasons may be completely unrelated and then changes in the prices will be unrelated too. On the other hand, if these forces affect both crude oil and cryptocurrencies at the same (though maybe to a different degree), then we can expect that the prices of these assets will be changing rather in unison. Did OP share his theory on the question he raised as promised? |
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BulbaLord
Member
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Activity: 261
Merit: 10
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June 08, 2018, 10:01:39 AM |
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What is the connection of oil price to BTC ? I do not know why that question is so I'm looking at it , because they are different .and if Each one goes up or down , I believe they have nothing to do with one another . In short i dont see they have any connection .
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bennie4
Member
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Activity: 224
Merit: 21
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June 08, 2018, 10:45:34 AM |
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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?
You can see that today's bitcoin prices are falling sharply and there are no signs of a recovery, so to be able to trade successfully is very difficult, the market is constantly changing. and is still in a bear market in the long run. The current bitcoin price has been adjusted to $ 7500, according to my analysis, bitcoin prices will continue to rise sharply in the coming days before falling in the long run. |
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Aamir1
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June 08, 2018, 11:27:57 AM |
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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?
Bitcoin is a lot different from oil, and it has nothing to do with it. Whenever you invest into Bitcoin, it has no influence in oil industries or whatsoever and the same thing applies to when you’re investing in oil. Whenever the price of Bitcoin falls, it doesn’t have any effect on oil prices and when oil prices falls, nothing happens to Bitcoin, because there are different investors investing differently in them. |
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AK47-
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June 08, 2018, 11:34:28 AM |
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I don't think the price of Bitcoin is in any way related to the price of OIL. No matter what happens to the OIL prices, bitcoin price won't change. The same happens in the case of Share market too. No effect on it as well unless there is a major variation in price.
The price of Bitcoin and cryptos are only dependent on news, rumors and FUDs.
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Agamatal123
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June 08, 2018, 11:59:08 AM |
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increase in oil price.
when we are talking about economy it deal with oil. but i don't see why increase in oil will affect Bitcoins. crytocurency is marge to increase of oil.
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KourtneyK
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June 08, 2018, 12:06:18 PM |
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I don't see any connection with Bitcoin and the oil prices but maybe if there is, if people will have less money because the oil price gets up then most probably the buying of bitcoin lessens as well because of it. But other than that, I really dont see and difference in price if the oil goes up and down.
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Naughty Princess
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June 08, 2018, 01:01:39 PM |
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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. I think the price of oil, even gets high, has nothing to do with the price of bitcoin because price of bitcoin depends on how high the demand and how limited the supply is to change the price in the market. Though both has something to do with the economy of one country because they contribute in it and both the market circulation is being matter why the price changes. |
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htconem7
Member
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Activity: 294
Merit: 10
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June 08, 2018, 02:09:00 PM |
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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 recent days, the price of bitocin and altocin has been continuously decreasing, the continuous adjustment of bitcoin prices has made the price of altcoin continue to decrease deeply and without signs. recovery. I believe that at this point you should not trade for the market to be more stable to start trading, the risk will be lower. |
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doomloop
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June 08, 2018, 10:33:55 PM |
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cryptocurrent still crypto. i mean there are nothing happen to cryptocurrent, unless all of government sell or buy the oil with cryptocurrent.
in a fact, until now, bitcoin price affected by demand of market, maybe from news, and government moves.
If the oil prices go up, people would have to save money to buy oil. The money which previously was there for investment in Bitcoin is now spent on oil. The demand for Bitcoin will decline and as a result, the prices of Bitcoin will also drop down therefore verifying the law of demand. This shows that the prices of bitcoin are flexible to the fall in demand for Bitcoin. |
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Vness10
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Merit: 10
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June 08, 2018, 10:39:17 PM |
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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?
Bitcoin and oil are connected to each other because oil is basing to world market and bitcoin is on crypto market they are not connected. So even the oil will go high it will not affect to bitcoin. |
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jayar_cabaltera17
Newbie
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Merit: 0
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June 09, 2018, 04:08:19 AM |
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For me there's no effect if the oil price hike because Bitcoin is almost illogical to bitcoin for me there's no effect the oil is not totally involve when you do mining for me there's no problem about that issue
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annango
Member
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Merit: 17
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June 09, 2018, 12:37:37 PM |
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Oil and bitcoin is not connected to each other I think. Bitcoin is online and that's digital while oil is offline marketing. If the price of oil decreasing or increasing I don't think bitcoin can affect from th emovement from the oil price.
That’s right! Oil and bitcoin are different as night and day, there is no relation with each other. It goes without saying that bitcoin is a digital currency which is on the internet, especially people enter bitcoin market to get benefit . On contrary, oil is just a commodity, a supply for human being in day activity . And as you know that oil price has a rise probably because the mode of production or technique is getting highly improve. In general, oil price does not take any impact to bitcoin market. |
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