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.