Quote from: yatogami on November 22, 2018, 03:32:59 PM

Quote from: davis196 on May 24, 2018, 12:06:51 PM

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 not used for production of electricity, so why should it correlate with the crypto market?
Yes, there have been attempts to attach cryptocurrencies to the price of barrel of oil (OilCoin or Venezuella's El Petro), but they were not massively adopted around the globe.
The value of cryptocurrencies is dependent solely on demand/supply and the news around the blockchain technology, it has nothing to do with the prices for natural resources and precious metals.

Oil its not related to cryptocurrency so whenever it does up or down it cannot changes any movement of a Bitcoin. So surely Bitcoin nothing to happen even the oils price hikes because they are have big differences to each other. But when the oils price hikesit will affect to our economy because many people will affect especially those have no enough income to support for their daily living.