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?
Mining does not need oil but only electricity so they won't affect btc. But we know that oil affects all the primary goods and services so we can expect an indirect added cost to the fares that will also be passed to the mining hardwares cost.