Hello, guys! What do you think? Can crypto and the oil industry be connected?
If I am not mistaken they are very different and are not connected to each other but if you are going to say stock market then they are related to each other. Crypto market can easily incraese or decrease it's price base on demand and most of the demand are coming from the big whales therefore if the oil price will crash it cannot affect the demand of crypto market.
But a pandemic scenario is separate as the market crashes pretty bad in the midst of pandemic where many countries impose a total lockdown in their area. Therefore oil crash cannot affect that much compare to pandemic scenario so as a crypto lover you don't have to worry that much if in case the oil prices will goes down as it is not the basis whether the crypto market will goes down or not.