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

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