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 that oil is affecting the price of everything around but I don't see the Direct dependence between those two, so maybe it will not affect it no way. Especially when I will buy myself an electric car, lol.
Oh I think I've figured it out! Oil's price affects the number of hipsters who buy Teslas, and when hipsters cash out of Bitcoin to buy Teslas, the price of Bitcoin goes down because everyone is selling their coin! So if we have a low price of oil, hipsters with HODL 'till their brains bleed, no matter what the cost! Come on sanctions, trade wars, and random antagonism in the Middle East!