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

[raidarksword]

Oil and bitcoin has different market prices and they decided the growth of supply and demand. Oil has a great factor of demand and supply hence they are used on daily basis by everyone. In the cases of bitcoin we are almost there to be widely used by everyone as well, we just need more push for us so that the world will see on how bitcoin can change the financial payment system in the future.

[andriarto]

Oil and bitcoin has different market prices and they decided the growth of supply and demand. Oil has a great factor of demand and supply hence they are used on daily basis by everyone. In the cases of bitcoin we are almost there to be widely used by everyone as well, we just need more push for us so that the world will see on how bitcoin can change the financial payment system in the future.

I think so too, with market differences making both of them not related. but there is a country that is an oil producer, when oil prices fall, they experience a crisis so that their currencies become worthless, the solution is to replace fiat currency into cryptocurrency, it happens in Venezuela, but the way was taken because their fiat currency was worthless

[virasog]

If BTC price goes up, the number of new comers and new investors will increase as well, and the trading volume of Bitcoin will increase obviously, as a result. This will make BTC even much more attractive, and it will help to get the whole crypto market stable.

Yes it will be definitely profitable for BTC if the oil price increases then the people in the country will gain more income from that so it made them to invest and Bitcoin then only the Bitcoin will be developed like a pro so it could be a important thing also.

The questions is what is the correlation between rising oil and bitcoin prices rising? in my opinion there is no relationship between bitcoin and oil. when oil runs out though the internet will still run and you can still use bitcoin right?

This would imply that dollar will be de-esteemed, oil costs will be worth substantially more dollar and consequently bitcoin costs will likewise ascends because of increment in dollar rates.

Precisely what I was reasoning excessively that there is no connection among oil and bitcoin costs. The main think I see here is that the oil costs may rise not due to lack of Oil but rather on account of degrading of Dollar .

[Genemind]

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's no relevance between the oil price and BTC price. It depends if a big investor of crypto is also an investor in oil market and they will withdraw a big amount of BTC to make up for their loss. However, there's no direct connection between the two.

[kkaroul4]

there seems to be no change if oil experiences a large price increase because bitcoin and oil have nothing to do with it. so that the two will increase in price individually because there is no slight impact on both

[Menawi12]

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's no relevance between the oil price and BTC price. It depends if a big investor of crypto is also an investor in oil market and they will withdraw a big amount of BTC to make up for their loss. However, there's no direct connection between the two.

I am agree there is no direct connection between oil and bitcoin. Oil price maybe affected by politics and manufacturing production and its not related with bitcoin because bitcoin is cryptocurrency.

[boty]

oil prices and bitcoin prices will never be able to have a relationship, they have very different characters and when the price of oil experiences an increase in prices it will not have an impact or influence on the increase in the price of bitcoin.

so it won't have a good impact and doesn't have a bad impact on bitcoin.

[shoreno]

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's no relevance between the oil price and BTC price. It depends if a big investor of crypto is also an investor in oil market and they will withdraw a big amount of BTC to make up for their loss. However, there's no direct connection between the two.

I am agree there is no direct connection between oil and bitcoin. Oil price maybe affected by politics and manufacturing production and its not related with bitcoin because bitcoin is cryptocurrency.

Why not ?  If oil rise people will strugling to buy it but they will still buy it because oil is pretty important , we use it on our daily life  especially for cooking our foods  .   now if people bought the oil in high price , people wont now have the ability to buy bitcoins and even other cryptos  because they dont have enough cash anymore  .

[jcarlo]

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 commodity and in few country, bitcoin is commodity too. I dont think oil price impact on bitcoin price because its very different. Oil is depend on world economic growth and bitcoin is peer to peer transaction cryptocurrency.

[nur rochid]

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's no relevance between the oil price and BTC price. It depends if a big investor of crypto is also an investor in oil market and they will withdraw a big amount of BTC to make up for their loss. However, there's no direct connection between the two.

I am agree there is no direct connection between oil and bitcoin. Oil price maybe affected by politics and manufacturing production and its not related with bitcoin because bitcoin is cryptocurrency.

Why not ?  If oil rise people will strugling to buy it but they will still buy it because oil is pretty important , we use it on our daily life  especially for cooking our foods  .   now if people bought the oil in high price , people wont now have the ability to buy bitcoins and even other cryptos  because they dont have enough cash anymore  .

I think cooking is a routine, so that those who have large scale oil use are industrial. even so, I think that between bitcoi and oil has nothing to do with it. because both are different types of investments