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 price will not contradict the value of bitcoins because they have different genre of market, bitcoins is a cryptocurrency so it will always grow depending on the supply and demand in the market.
You have wrong. Demand and supply depend entirely on factors like good news and bad news. Rising oil prices mean that gold prices are rising. The price of gold increased, causing large numbers of people to hold gold to sell gold and to transfer money to the electronic money market and buy bitcoins, which made the bitcoin prices soar