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

[ucingucingan]

maybe it will make bitcoin prices also rise, because to make bitcoin required a large enough electricity and most of the electricity production is still using oil for power generation machines, so I think the price of bitcoin is influenced by the price of oil

[Lucilfer]

maybe it will make bitcoin prices also rise, because to make bitcoin required a large enough electricity and most of the electricity production is still using oil for power generation machines, so I think the price of bitcoin is influenced by the price of oil

no i guess that was the other way around. i can also see that it is irrelevant that when the oil price rise up, bitcoin price also rises up, and i kinda disagree your opinion about machines being powered by oil, because as far as i can see and we can even notice that, bitcoin was using electricity and much more requirement is the internet, both of them are the basic necessity when it comes to this and oil doesn't seem to have contribution about them.

[Opnsrc]

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.

I am also very curious: why do people seek for some connection between the digital money and the oil? OK, I understand 50% of the USA electricity comes from the oil but still there is no visual reason here...

[tee-rex]

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.

I am also very curious: why do people seek for some connection between the digital money and the oil? OK, I understand 50% of the USA electricity comes from the oil but still there is no visual reason here...

Well, I think I can throw some light on this matter. Oil has been slowly rising recently, so people are eagerly looking for reasons why cryptocurrencies should rise along with it too. In other words, if someone tells or claims there is a connection after all between oil and Bitcoin prices (positive correlation, to be precise), then people will feel reassured in their cryptocurrency investments. That will give them a feeling of wellbeing, if you please.

I hope this explains it pretty well why such questions arise.

[waqasniaz007]

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 link of bitcoin with oil prices because oil is trading in usd not in btc. Bitcoin has its own value.

[bintangkejoraku]

in my opinion there is no relation whatsoever between rising oil prices with bitcoin prices, they have no relation to each other.

[agiskasep]

As far as i know altcoin price up is depends on bitcoin too, so if altcoin grow,bitcoin is already go up

[MMA]

maybe it will make bitcoin prices also rise, because to make bitcoin required a large enough electricity and most of the electricity production is still using oil for power generation machines, so I think the price of bitcoin is influenced by the price of oil

Bitcoin is an online currency, a decentralized and having same value everywhere, therefore i personally do not think that the oil price will effect bitcoin too much. i am sure that even if the oil price is increasing or decreasing, bitcoin will be trading in its normal routine and we will never see any special change in bitcoin price.

[Daseento]

I honestly doubt if there's a direct correlation between the price of oil and bitcoin as they aren't in the same sector of the economy. Price determinant for btc have always been either increase or decrease in demand or positive and negative news.

[FADI1]

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?

Frankly speaking I don't really see how the price of bitcoin can be directly affected with the price of oil.

[pantheraio]

If the oil price is going up, it does not affect the bitcoin value in my opinion. Because bitcoin is also not so related to oil prices. But maybe if the oil price hike occurs, the world economic crisis will happen and that's what can affect the price of bitcoin.

[unlostv]

we have to look and analyze what happened before when the oil prices were down. If the money from btc flows into oil than obviously the price would go down.

[davinchi]

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.

Rises and falls of bitcoins’ price are always happening because of its reputation in the eyes of people who are getting aware of it. When the people start believing that bitcoins are becoming insecure for them due to some factors like the false news about bitcoins, they start selling their bitcoins in order to save themselves from big losses so the price automatically falls in market. 

[therwtonn]

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.

Bitcoin investment will change and so will be the price because the price depends upon investment and when investment increases or decreases the price fluctuates. When oil price changes the prices of whole commodities changes. When people have more money then will invest more and when they have enough money to overcome their financial needs they will invest little.

[hatsoff2btc]

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.

I am also very curious: why do people seek for some connection between the digital money and the oil? OK, I understand 50% of the USA electricity comes from the oil but still there is no visual reason here...

Well, I think I can throw some light on this matter. Oil has been slowly rising recently, so people are eagerly looking for reasons why cryptocurrencies should rise along with it too. In other words, if someone tells or claims there is a connection after all between oil and Bitcoin prices (positive correlation, to be precise), then people will feel reassured in their cryptocurrency investments. That will give them a feeling of wellbeing, if you please.

I hope this explains it pretty well why such questions arise.

Bitcoin is cryptocurrency and you know that everything is being affected by the oil prices. Oil price is not controlled by a single country. Oil and gold are the two things that are treated globally and the daily price is given on the internet. So is bitcoin and in my opinion it is affected by the price of oil because the oil price is also changes globally and such things effects each other. 

[Digital_Lord]

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 also do not think that there will be any effect of oil price on bitcoin, bitcoin will surely trade in its normal way and may not be effected by international oil price.

[Jedzkie050617]

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

I dont see significant effects of the oil increase in btc but if ever there are effects in any way hopefully this wont affect btc price that much.

[DMCR lah]

I can't say that they have a connection or oil and bitcoin are relying to the same market but I think if the world's economy we are talking about here, they are part of it so if oil's price goes up I'm not saying that bitcoin's price will go down.

[WolkGold]

There is no link from bitcoin and gasoline. But it will increase the inflation of any aspect of life, society, industry, production. if this lasts. It is difficult for people to get their savings to invest in bitcoins and crypto.

[PhucS]

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 my opinion, I think Bitcoin prices are unlikely to be affected by the price of oil. Whether the price of oil is high or low, its impact on Bitcoin is almost minimal or even not at all. At present, the value of Bitcoin is most affected by the news related to the mayor of cryptocurrncy. In recent months, we can clearly see this, just a few small negative news are enough to make Bitcoin change. This is just my opinion, I would like to know more your views on this issue