The stock market is impacted heavily due to the drop in oil prices. Do you all think it will impact the BTC prices as well?
Our focus now is on bitcoin halving, not on oil affecting bitcoin market price. I hardly see any connection, the crude oil is now very low but bitcoin can not be affected. The price may even increase as well as it moves towards halving against what analysts are predicting.
Take a look on oil price on March 12-14 and on bitcoin price on March 13-15. Dont you think these two price drops are connected? I will never believe that bitcoin's recent price drop happened by itself.
I'm not saying that bitcoin price primary relies on oil price, but these two sure are connected.
Any price drop of Bitcoin does not happen
by itself because there are so many factors out there coming into play. If
by itself you mean that it just drops for no external reason at all. Bitcoin is more than a hundred-billion market, and a public one, it does not just drop significantly without large players playing the game.
But I don't think it has something to do with the price of oil. I cannot see a connection. Why does Bitcoin's price fall when oil price falls? In what way should they be connected?