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

[KuromaYoichi]

I don't see any connection between oil price and crypto so it's not matter what the oil price is at the moment as the demand of crypto won't change. Commodities such as oil will affect your country economic such as the price of food etc. If they somehow use bitcoin to buy oil in a large volume then it may be affected crypto price.

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[HI KITTY]

What I've been observing is when bitcoin is going down, stocks are going down and oil price is going up.

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.

But the relation that I can say is when the economic situation is bad, most of the markets are down and the price of oil goes up.

What's your theory?

I think there is no relation on BTC if the oil price goes up.
Maybe, the laws of supply and demand cause oil prices to change. When supply of goods and services exceeds demand, prices fall and the inverse is also true, as the price of a good increases the quantity demanded decreases therefore, the excess supply of oil caused oil prices to fall sharply. I was wondering,
How the price of oil is determined? any ideas?

[BitRentXx]

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 think there is absolutely nothing, both move in different fields.
oil does not affect bitcoin and vice versa.

[andika2018]

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?

Maybe oil prive impact to condition economy but i dont thing it will give impact to cryptocurrency price because if i not mistake its not related. Cryptocurrency is digital asset and store of value and its very different with oil. Oil is commodities and the supply controlled by producer country and bitcoin have limited supply and not controlled by any government or authorities

[Polkadott]

I think there is no relationship between world oil prices and the price of bitcoin or other crypto currencies, because the value of bitcoin is very easy to change

[inspirone1]

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 think that oil is affecting the price of everything around but I don't see the Direct dependence between those two, so maybe it will not affect it no way. Especially when I will buy myself an electric car, lol.

[ablelester]

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 think that oil is affecting the price of everything around but I don't see the Direct dependence between those two, so maybe it will not affect it no way. Especially when I will buy myself an electric car, lol.

Oh I think I've figured it out! Oil's price affects the number of hipsters who buy Teslas, and when hipsters cash out of Bitcoin to buy Teslas, the price of Bitcoin goes down because everyone is selling their coin! So if we have a low price of oil, hipsters with HODL 'till their brains bleed, no matter what the cost! Come on sanctions, trade wars, and random antagonism in the Middle East!

[KryptoW99]

I don't think that there is a direct relationship between them.

But, indirectly oil prices effect countries economy, which leads to spikes in stock/share market,
which may effect crypto prices together with countries new economical state.

[agentx44]

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 believe that oils price doesn't have any connection between bitcoins price because oil is not like a fiat currency and cryptocurrencies. So even the oils price will go up or down it will not affect the bitcoin's price.

[Kimi80]

I also don't see direct connection between this two things, those are two different fields. Maybe if bitcoin is going to be used as a payment method for purchasing oil, maybe they correlate. I read some interesting ideas and thoughts here but I think that they could produce micro, not macro effect on crypto currency prices.

[Altf4]

The oil companies have different market with cryptocurrency market , if is there is an adjustment in oil price value in the oil market, it does not really affects the market value of bitcoin and other crypto currency coin in the market cap.

[beverly788113]

The oil companies have different market with cryptocurrency market , if is there is an adjustment in oil price value in the oil market, it does not really affects the market value of bitcoin and other crypto currency coin in the market cap.

I believe that in order for bitcoin prices to rebound at this time is very difficult, you may find that the market is bearish in the long run and bitcoin prices will likely continue to fall sharply at any time. Prices of altcoin are also very strong so I believe that it is very difficult for the market to recover and it takes a lot of time. I believe that the market capitalization should be at $ 800 billion at the new $ 20 billion bitcoin price.

[Matty96]

I dont think these two have any relations.
The only thing may happen is when the oil price gets boring and people lose interests in oil so they switch to invest into crypto. Then bitcoin will have some positive movement.

[hatsoff2btc]

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?

Nothing happens to Bitcoin, it has no connection with oil, Bitcoin is a cryptocurrency. There are things that determines the price of Bitcoin and not stocks or assets or whatever you may think, the only thing that determines the price of Bitcoin is the rate of demand and supply, so everything that has to do with Bitcoin in terms of determining price and value is here.

[thresher]

I think it depends on how the country builds power plants, what percentage of capacity is produced by petroleum power plants and natural gas compared to total capacity. If the percentage is small then it is less affect to the bitcoin price. We take the example in the US, but not this year, in 2016, the percentage of capacity produced by petroleum power plants compard to total capacity was 3.35%, while the natural gas was 43.54%. The both number is large because almost half of the total capacity of energy produced, and of course it will significantly influence to the price of bitcoin. The price of oil and natural gas rises, the price of electricity rises too. The price of electricity rises, the cost of mining bitcoin will increase too, thus resulting in rising bitcoin prices.
source: https://www.eia.gov/electricity/annual/html/epa_04_03.html

I also think that the increase or decrease of oil price cannot effect bitcoin price. May be in such countries where bitcoin has become a legal currency will effect bitcoin price but in such places where bitcoin do not have any relation with the economy of the state.

[NowLovebed]

If the price of oil rises does not seem to affect the bitcoin price.

[KeepupSlim]

As far as the price of dollar can affect Bitcoin a don't see any reasonable argument behind it being dependant on the price of oil. There is just no connection whatsoever.

[cr7]

 As oil prices rise, assets fall. Traders and investors will look for an alternative, may show interest in bitcoin. This will give a new impetus to growth.

[Ayush rana]

Hey guyz As we all know crude oil is listed in forex exchange for trading purposes. if the price is rising of oil than it may attract investor to invest more. but i don't think it effect bitcoin price at all. because both things are totally different.

[Wittycoin]

I don`t think there is a connection between BTC and oil price. Both of them are in different areas, I mean oil could work without bitcoin and bitcoin could work without oil.