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

[aaravnatalyn]

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.

[YinShuiSiYuan]

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 .

Are you sure about that? I don't think price of BTC was correlated with the price of oil. If it is already, the oil is associated with fiat. I don't think anyone would be trading oil for cryptocurrencies, at least not officially. So it doesn't affect the price of Bitcoin.

[Vs225655]

I believe that the price of bitcoin does not depend on the price of oil. This is an independent currency that is not fixed by any factors. Though we will see it

[nesty]

Bitcoin value has nothing to do even if the oil price goes higher because they are both different and Bitcoin is not related to oil. So we cannot connect bitcoins price to the movement of price of the oil.

[icecream sandwich]

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 oil cost increment in the worldwide market right currently has no effect on bitcoin cost, on the grounds that the bitcoin isn't utilized oil for its live, and bitcoin is certainly not a day by day needs of the general population, so why the oil cost increment will influencing bitcoin value, bitcoin and oil are distinctive business and not associated by each other.

[Scavagers]

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 personally think bitcoin and oil price has no relation to each other. Those are two different things and they do not even have the same purpose. So if the price of the oil went up, there will be no effect on bitcoin's price.

[gandhe83]

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 oil cost increment in the worldwide market right currently has no effect on bitcoin cost, on the grounds that the bitcoin isn't utilized oil for its live, and bitcoin is certainly not a day by day needs of the general population, so why the oil cost increment will influencing bitcoin value, bitcoin and oil are distinctive business and not associated by each other.

I also agree with you. Oil does not affect this market. But it is a part of the economy of a country. Petroleum helps the community of a country have favorable conditions for the economy. However, in this market, I think there is nothing to worry about. I think so.

[ngalamunan]

Bitcoin value has nothing to do even if the oil price goes higher because they are both different and Bitcoin is not related to oil. So we cannot connect bitcoins price to the movement of price of the oil.

I also think of it, what is the bitcoin relationship with oil prices, whereas the price of oil with bitcoin has nothing to do, for example today the bitcoin price is down, whether the price of oil also goes down, it is not. on the contrary the price of bitcoin down oil prices even rise. so there is no hungannya between oil with bitcoin. that's what I think.

[rasp]

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?

Following your logic, BTC price should have been dependent on the cost of mining/electricity, which significantly differs in various countries (compare ~$40/MWh in Iceland and ~$170/MWh in Japan).
In reality, we can see that coins mined in Iceland are valued the same as the coins mined in Japan.
So the price of bitcoin has nothing to do with conventional commodities like oil, gas, electricity, etc.
It depends solely on supply and demand and the overall situation on the market affected by news and attempts of regulation.

[ReiMomo]

There won't be any effect on Bitocoin or oil prices either because the oil prices are determined by US Dollar and not with Bitcoin or any crypto. I think there is no connectivity for oil price and Bitcoin and you are getting confused with the crypto economy and oil economy.

If Bitcoin is accepted world wide as a legal tender then oil price may be fixed on the bases of Bitcoin price and that may take several years to happen.

[Farma]

There won't be any effect on Bitocoin or oil prices either because the oil prices are determined by US Dollar and not with Bitcoin or any crypto. I think there is no connectivity for oil price and Bitcoin and you are getting confused with the crypto economy and oil economy.

If Bitcoin is accepted world wide as a legal tender then oil price may be fixed on the bases of Bitcoin price and that may take several years to happen.

well, what's the oil relationship with bitcoin, but if something big like oil goes up, I think bitcoin prices will also go up. the development of such a thing may involve bitcoin, and that of course will involve and influence the bitcoin price.

[phucngungoc]

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 in recent times bitcoin prices are constantly rising, the market is showing a very strong rebound, I think in the moment you can already start trading. But I think the recovery of bitcoin will only last for a few days and the bitcoin price will probably decrease at any time. The market is bearish in the long term and we should only invest short-term in bitcoin. Bitcoin prices may continue to fall sharply in 2018.

[pat4cryptoreal]

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.

It is obvious that there may be no relationship between bitcoin price and petroleum price, But if we look at it critically with blockchain eye, petroleum blockcain based project like the one  you just mentioned can be a mediating factor between bitcoin and petroleum price. Just have it in mind that bitcoin and blockchain in totality will soon control all other sectors of our global economy. 

[Zarangozang]

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 in recent times bitcoin prices are constantly rising, the market is showing a very strong rebound, I think in the moment you can already start trading. But I think the recovery of bitcoin will only last for a few days and the bitcoin price will probably decrease at any time. The market is bearish in the long term and we should only invest short-term in bitcoin. Bitcoin prices may continue to fall sharply in 2018.

the possibility of bitcoin prices for this year has reached its lowest point and it is now time for bitcoin growth bounce back. yes indeed for the decline will still continue to exist because the movement is still fluctuative there is time to go up and there is time to go back down for a short correction before going up again. it is advisable to invest in bitcoin only in the long run only to reduce the risk of loss and if it is just starting to trade back when the price corrected back.

[Gameroid]

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 in recent times bitcoin prices are constantly rising, the market is showing a very strong rebound, I think in the moment you can already start trading. But I think the recovery of bitcoin will only last for a few days and the bitcoin price will probably decrease at any time. The market is bearish in the long term and we should only invest short-term in bitcoin. Bitcoin prices may continue to fall sharply in 2018.

the possibility of bitcoin prices for this year has reached its lowest point and it is now time for bitcoin growth bounce back. yes indeed for the decline will still continue to exist because the movement is still fluctuative there is time to go up and there is time to go back down for a short correction before going up again. it is advisable to invest in bitcoin only in the long run only to reduce the risk of loss and if it is just starting to trade back when the price corrected back.

Yes that is right to say that bitcoin price is not going to drop anymore, because it is already trading in their lowest price, but i think there are more chances that bitcoin price will very soon its price will increase too much. I do not think that there will be any big impact of oil price on bitcoin. In fact bitcoin do not have any connection with bitcoin.

[imrul5]

There is no relationship between oil price and BTC. But if oil companies accept BTC as a payment than price of BTC will be too damp high. And it will be a great achievement for the BTC to get global currency.

[Osarman]

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?

So are you trading on oil or what? I don’t see any connection with Bitcoin and Oil. Bitcoin is totally different and whenever the price of Bitcoin is going it doesn’t affect the price of oil, same thing applies to when the price for oil is going up and down, no connection between both.

So you can save your theory whatsoever cause we all don’t need it here. There are more important things to focus on than taking about oil price blah blah blah. Cryptocurrency is a totally different business.

[Anewor]

Bitcoin doesn't have to be directly affected as prices are always based on the supply and demand. But there are things we should be considering for this matter. Indirectly bitcoin miners will be having problem with the high cost of electricity brought about by the effects of high oil prices. So as a result miners may ask for greater or higher transaction fees. In another situation investors might be having problems with the amount of money to invest. Since prices go up on the common commodities, the budget for investing in bitcoins might be used up a bit or is lessen as a result investments become smaller in value or volume. This is how it might affect bitcoin.

[yonjitsu]

If the oil price gets higher, then bitcoin's price remains as it is. IMO, there is no connection between the status of their market value at all as they are very different from each other. But if oil plays a major role in every bitcoin transaction, then possibly it can affect bitcoin's status too.

[spongegar]

I guess nothing. Bitcoin doesn't have direct investments on crude oil or any stocks for that matter. The price of Crypto currency is heavily relient on the trade within the crypto currency market. The more the trade the more healthier it would be and the strobger the price. What ever happens to the world, as long as we hold on to our coins, then we'll all be rich.