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

[BitcoinMarketer39]

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?

Oil prices and cryptocurrency is not connected but as of today, the market prices is slowly pumping since it run very low for too long and people are starting to invest again.

[AndriyPilipyak]

I think btc is safest place to hold money, if price of oil will go down-money will come in btc,right now oil is interesting by high price because a lot of cars in the world use fuel. In future most expensive and valuable resource will be electricity,because of electric cars and cryptocurrency

[millionaireshs]

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?

Oil price high can cause of inflaton of price of many goods   and merchandise of some country together with the value of money but not to be affected to Bitcoin.

[sumanto]

if the price of oil rises does not seem to affect the bitcoin price because the true oil and bitcoin are not the same and so contrary so will not give any effect on it.

[korkyqq]

It shouldn't have very big effect on the bitcoin.  But for sure it's not very helpful, because the more money are spent to buy oil, the less money there is to spend on bitcoin. But if the bitcoin has a stable demand from people who purchase it with other crypto coins, it shouldn't be a problem.

[BestSSS]

Bitcoin is not the national currency of any state, and at least do what but the price of oil at least for today well, no way affects the price of bitcoin.  Oil price increase is great news for many oil States, as it is excellent for the country's economy. And if everything is fine in the country - therefore, people are more secure and tend to give their money to somewhere in the Bank. but this has little effect on the price of bitcoin.

[gabmen]

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 opposite thing will happen . The bitcoin price will going deeper an deepr because it affects the oil price while the oil price will be increasing and will double the btc price .

What the? Really? I don't think there's going to be any direct and considerable effect of the price of oil to btc value. Probably for fiat since they're both physical assets. Digital currencies are likely to stay with their usual movements

[pallang]

I don't see any connection between BTC and oil price because the market of BTC is different from oil market if oil price will rise i think fiat money is the one to be affected and also price of commodities will rise.

[Offece]

I think and im now not certain on it. Bitcoin will no longer effect the price of bitcoin even though its goes up. due to the fact the market of oil and bitcoin is just too unique in the market. And bitcoin additionally a coin circulating not like oil.

[maxreish]

The oil price increase in the global market right now has no impact on bitcoin price, because the bitcoin is do not use oil and bitcoin is not for the daily needs of the people, so how come the oil price increase will affect bitcoin price? Bitcoin and oil are different business and do not habe connecions with each other.

[gowobonyok]

I think it's not very influential. because bitcoin is less influential on world economic conditions and prices on bitcoin are also stand-alone, unrelated to any circumstances or circumstances.

[dark1234]

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 am curious about your technical analysis and theory
because so far bitcoin has nothing to do with oil prices or other mining prices such as silver and iron

[airdrophunter]

I don't think there's a relationship between the progress of bitcoin and oil it's because they are different type of assets where BTC is defined as an intangible one and in contrast to the other one. But if a certain crypto that is backed by an oil will be recognized just like the Venezuelan Petro crypto will make some noise in the cryptoworld, then probably it can affect bitcoin's value.

[jojowar]

I think there is no connection between bitcoin and oil prices. Some other commodities and services that uses petroleum products has an effect on the oil prices but not cryptocurrencies.

[Emigham7]

I honestly don't see any connection to Bitcoin in this case, and if the prices of both responded similarly in some ways previously, it's likely coincidence. I might have missed something fundamentally, but that's my opinion.

PetroCoin (MaduroCoin) however will benefit from an increasing oil price, so I assume that the investors and backers of this governmental garbage will happily look forward to what the future brings.

I'm interested in reading your theory. If it's convincing and makes me look at the situation differently in terms of Bitcoin, I will Merit your theory.

To the best I know and think for now, there is no connection what so ever between bitcoin and oil. The only thing that may happen is, when oil price goes up that much, there will be more money in the system thereby, more investors  may come in to invest in bitcoin which will drive the price up

[onebtcforlife]

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?

Oil prices and cryptocurrency is not connected but as of today, the market prices is slowly pumping since it run very low for too long and people are starting to invest again.

Yes, how can people compare with the Oil and i think there is no relation with the Bitcoin and Oil. Cryptocurrency is a completely different concept which we don't have any relation with the Oil but slowly the price of cryptocurrency are answering along with the Bitcoin.

[yohaneshs]

Nothing happen i think. Maybe effects in trading pair between BTC and fiat.
But i think it's will not give big effects because it's not have relations between crypto and oil

[manfredmann]

NOthing I guess because btc remains on its value which is so volatile. The only thing will be affected by oil price goes up is the fiat money and other commodities that will going to take a rise also in market price as the government will do the regulation on its market price.

[breathlessz]

Nothing happen i think. Maybe effects in trading pair between BTC and fiat.
But i think it's will not give big effects because it's not have relations between crypto and oil

between traders crypto and oil traders different space. in the absence of such linkage, then i do not think it affects each other. oil is legal throughout the world, while cryptocurrency has not

[samycoin]

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?

Oil and bitcoin don't have any connection unless all oil industry is relying too in bitcoin but it's not. So they don't any connection so even oil go higher the price there's no impact in cryptocurrency.