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

[rocketbits]

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

Oil is not a currency and is not an easy source in which we invest our money but on the other hand the Bitcoin is an easiest source where you do not have to make arrangements but just investment is required. There is no connection between oil and Bitcoin as we know that Bitcoin is a currency and decentralized so only its demand has great affect on its price, the more we demand the more increase will occur in price.

[tonysitaly]

The rise in oil prices may be disadvantageous to the world's economy, which will significantly increase the cost of many industries and may stimulate more printing of the government, if the price of big inflation will be higher.

[vik254]

I  dont  think  there  is   any  entity  which  is  using  oil  to  generate  electricity  for  bitcoin  mining.  because   of  that  i  do  not  really  think  there  is  a  correlation   between  bitcoin  and  the   oil  rates.   with  the   value  of  bitcoin  expected  to  increase  in  the  future  maybe  mining  btc  with  oil  energy maybe  economical. i  think  this  will  be  good  since  it  will  maintain  the  value  of  btc  high than  the  value  of  btc  at  the  moment. This  will also depend  on  the  regulations   which  will  be  put  in  place  by  governments.

[Fredomago]

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'm not an expert basically but it is hard for me to see what way and how it is depending on the price of oil. it is for me similar thing as we read about the dependence of cryptocurrency price to a worldwide soccer Cup I don't think that it is dependent

So do I, but in some relevance oil price affects economy of each nations so with the hike for sure the market will be affected, it is the global market, while bitcoin still undecided by many around this market, it won't be affected yet not unless if businessman will start using this system and adopt the chain, it will affect in a positive side of investment assets.

[MondayTraddd]

The price of the bitcoin does not really affect the price of the oil and they are not related.

[BigBos]

The rise in oil prices may be disadvantageous to the world's economy, which will significantly increase the cost of many industries and may stimulate more printing of the government, if the price of big inflation will be higher.

you are right. we do not know what the effects are on bitcoin if oil prices go up. well, chances are, oil is a good investment besides bitcoin, so, it could decrease the bitcoin price, but it could be the opposite.

[TooDumbForBitcoin]

I guess we must rather track some parameters like fed balance sheet, because the fiat money supply in circulation can take impact on the market

[boksoon]

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 is the  number one big business world wide and also this is a cause of inflation of all goods and merchandise in case of oil price high. But because of Bitcoin price increased, oil industry is no longer connected to Bitcoin price inflation.

[Sled]

The rise in oil prices may be disadvantageous to the world's economy, which will significantly increase the cost of many industries and may stimulate more printing of the government, if the price of big inflation will be higher.

you are right. we do not know what the effects are on bitcoin if oil prices go up. well, chances are, oil is a good investment besides bitcoin, so, it could decrease the bitcoin price, but it could be the opposite.

If i will choose between those two investment, i will still go for bitcoin rather than oil because bitcoin has more liquidity than oil because even wherever you are, you can sell or convert your bitcoin into a fiat money which is the best for me and the reason why i choose bitcoin because oil doesn't have liquidity like the bitcoin does.

[Amanda Green]

It is difficult to predict how the market situation will change in the future. Everything could happen, therefore, the smartest way to invest in digital assets is to build a well-diversified portfolio based on your risk preference and investment goals. Such a portfolio would likely include a substantial holding in bitcoin and small exposure to promising ICO tokens. I have found a trustworthy ICO project. It is called Socratus.  It is an insurance ecosystem which provides a digital platform for insurance companies. So any insurance company can connect the platform to become the part of Insurance Digital Ecosystem. Their main aim is to create a win-win insurance whereby you get instant claim payment,  fair and transparent dealing and friendly prices. They are also helping insurance companies to reduce costs (it can be reduced from 15 to 25 %) and get their business on a new level. Also, they are powered by Smart-contracts & Socratus Oracles. It means that there is no more solo human decisions to pay or not to pay, no more lingering manual claims handling procedures.

[Limar0]

Oil prices I guess has nothing to do with the price of Bitcoin. Basically, what affects the bitcoin price is simply the demand and supply in the market. If more and more people are going to invest in bitcoin and other cryptos, then that would make the prices go up since the supply in the market is getting lesser. That's how crypto and altcoin works it is not dependent with the oil prices.

[EVOS]

You are very funny, the price will not affect bitcoin, unless the rising price will affect people to sell bitcoin,
that will have an impact on bitcoin prices, as many sell and buy less.

[BTcSD]

THE PRICE OF OIL THOSE NOT AFFECT BTC

Yes Correct . there is no relation between OIL and BTC . this question has nothing to do with real markets work up .

[AmazingDynamo]

there would no effect to the economy ofcourse , bitcoin is working without the help of any oil related product, even mining there is not oil that concern of the transaction of bitcoin so they are not compliment in the market.

[cunese]

The simple analysis is that if oil prices go up, the world economy will go up, and so will the BTC. So when the world economy is good, the price of BTC will definitely go up.

[Destofe]

I think bitcoin and oil are inversely  proportional to each other as what i see in the statstics of oil and bitcoin. When the oil prices increase the oil drillers also increase unlike bitcoin. If the bitcoin will not vary about the price themselves and also when there are lot of miners bitcoin will be statisticaly down. Thats why its inversely proportional.

[Financial Freedom 4U]

I think it doesn't affect the crypto at all, even if its affect iwill be a little because crypto and oil investment are way to different.

I slightly disagree, you need oil to create energy and energy to mine bitcoin. Sooner or later we will see alternatives to oil and gas as solar energy but we are far from there at this stage.

[Tyronthegreat]

I don't think the decentralized bitcoin will get affected by this situation, and besides cryptos and gas has no thing that makes them conneoto each other. Can you tell us your idea about this?

[lunnatic]

There is no relationship between bitcoin and oil. Bitcoin is digital currency and oil is not currency. That's nothing happen to bitcoin if the oil goes up.

[Gramna]

In my humble opinion, I do not think that there is any correlation between the oil price hike and Bitcoin market activity at all. What I know is that the price of oil may have some effects on the fiat currency but not Bitcoin or any crypto currency.