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

[phpartisanmaster]

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.

There is no straight connection between bitcoins and oil price, cryptocurrency has different market while oil is in stock market but what they have in common is demand and supply which makes their price increase.

[prokerduit]

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?

if in my opinion, maybe not too influential because I know. whether or not the price of bitcoin is determined by the person or the largest shareholder and also gold (many people say). that's all I know

[NevejElad]

When the oil price hike in the oil market then the price will goes up , it does not affect the price of bitcoin because the oil market ,have different world ,in comparison with cryptoworld and the bitcoin market, so it will run at different business independent to each other.

[rickyNmorty]

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 clearly does not make sense. Oil is far from crypto currency even though the prices of goods affect the stock market. Stock market is a lot more different from crypto currency. People who invested in bitcoin does not think in rhe price of the goods such as oil in investing that is why there is no connection at all. More probably it will result for a better outcome if people who invested in stocks will go to crypto because of instability of stock market and this is a good thing.

[Angi]

I don't have ideas if the oil prices will goes up it will affect bitcoin price too because each both prices are different from each other if the bitcoin prices goes up the oil price goes up too?? what you should think it will affect too much from the beginning? I don't think so that will happen so for now I wan't to gain knowledge about that thing.

[trako]

these are different topics. oil globally is a situation that affects the manufacturing sector. if oil prices and oddities are made over bitcoin, then it can only be an effect. there is no connection except this

[muddy waters]

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 don't think btc and oil are somehow interrelated. Oil has nothing to do with the price of bitcoin.
Bitcoin in general is such a unique phenomenon that depends only on the demand of people using it.

[calya]

these are different topics. oil globally is a situation that affects the manufacturing sector. if oil prices and oddities are made over bitcoin, then it can only be an effect. there is no connection except this

but it's money flow can give big impact.for example if oil investor move their money into crypto.it can be affected in oil and crypto price.

[ninio]

Are you joking ? oil price movement never affect the price of crypto currency in the market because crypto currency is not related to the world economy because as I know crypto currency is a decentralized aspects and the price of it is depend to the crypto users, crypto whales and investors.

[F_Ivanov1993_]

The price for bitcoin does not directly depend on the price of oil.  But perhaps an increase in the price of oil will help raise the price of bitcoin.

[satriagedhe]

btc and oil is different investation and i think the effect of oil price up it doesnt matter to btc price , the effect maybe will get is some investor will change their invest to oil rather than btc

[RudeeTam]

I think if the oil prices goes up, people are going to sell off their BTC to buy petroleum based products if needed, like gasoline. And when they sell their coins, bitcoin price goes down. Although I haven't seen a significant increase in oil prices to make it so.

[martinholly167]

is oil have an big influence on the word economy so that it can make major changes to economic conditions and market prices, thus affecting crypto prices? how important  is oi? are there any other things that cam change things like oil

[Nyak put]

i  think it is unlikely that as in these industries approximately the same investors. Some investors on wall street do not consider cryptocurrencies for something worthwhile. Remember even the expression of Warren Buffett about bitcoin. Therefore, it is unlikely that raw materials so affect high-tech development.

[wahyu wida]

is oil have an big influence on the word economy so that it can make major changes to economic conditions and market prices, thus affecting crypto prices? how important  is oi? are there any other things that cam change things like oil

i don't think it has anything to do with the development of Crypto. investors are now afraid to invest in oil, because America invaded the economy and the Venezuelan government policy that made investors invest in it.

[vachellie]

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?

Two thing you stated above is not related, if bitcoin prices goes up when oil prices going down or vice versa, it's just coincidence. Two of them have different market.

[Baokali92]

I never thought about it and did not pay attention to it, it's very interesting. It is necessary to conduct an accurate analysis as far as possible and then maybe we will see a trend.

[Ayush rana]

I think there in no connection in between oil price and bitcoin price. Oil price is controlled by centralized authority where bitcoin is decentralized.
Bitcoin price is only be affected by Oil price if OPEC nations accept bitcoin as a payment option for selling Oils to different nation. Otherwise there is no connection in between oil and bitcoins.

[aoihs00]

Nothing will happen. why there is any effect of oil prices over the BTC at all? There is no relation between the crypto currency itself and oil commodity because they are already in two different environments and thus they will never hamper the prices of each other. Oil price depends upon the centralised control of the government and also depend upon the big stuff like international trades, sells and purchase, import and export etc etc. Whereas BTC itself is decentralised one and it depends on the investment of users and not whats happening with the oil in the world. 

[Pain Packer]

I think what he is trying to say is that if the price of oil goes up, same goes for the cost of electricity and transport (depends on where you live). If cost of transport goes up, then all kinds of you can buy in the wet and dry market will eventually goes up to. If this is the case then the miners who just using their PCs to mine will need to adopt a small price increase thus transactions fees will go up. I think this is how he/she think what will happened to BTC if the oil price is move.