Quote from: culuuton on Today at 01:47:14 AM

Quote from: Malvika_sitlani on April 22, 2020, 09:54:19 AM

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?

Oil prices only have a partial impact in the current situation, it isn't the main cause heavily affecting the global stock market. Bitcoin won't be affected by the price of oil, the price displayed recently has proved that.

The changes in oil prices affected everything and everyone for commodities can easily change the price depending on the crude oil which is necessary for production and transportation and because of that the stock market gets affected as well. Bitcoins and other cryptocurrencies though, digital and decentralized they may not be directly impacted by the oil price but when we take a closer look and understand it we will know how it can be affected either positively or negatively, IMO.

The decrease in the oil price may give us a lower price in the commodities and will give us enough savings, therefore, we can invest more in bitcoin that will help the crypto market better and that is one positive effect of oil price to the crypto world. There might also be a negative impact, however, as of now the most important thing we need to be ready is the halving that will happen soon for most of us might get hurt on this and some may not be able to recover anymore.