oil demand is rising even when the price rises or falls. Same with bitcoin is that demand for a solid uncompromised global currency is rising. Im not sure bitcoin will be used but its applicable market is rising and the ability of populations to access its worth is also rising so that is a bullish outlook.
Even while some industry may be in decline and so recession a possibility, I think the demand for oil is going to rise because of progression in various countries development and dollar will continue to weaken and its long term system; that promotes bitcoin or least some alternative system
Even while some industry may be in decline and so recession a possibility, I think the demand for oil is going to rise because of progression in various countries development and dollar will continue to weaken and its long term system; that promotes bitcoin or least some alternative system
You have the supply in the equation of price too.
About 800$ on January 1st and 340$ now, nothing to worry about! It was about 14$ on January 1st 2013.
Oil was as high as 107$ a barrel (for wti) this year and is now 55$, oil is not doomed
Supply/Demand...
Oil is not doomed, but oil producers are sweating.
Bitcoin may not be doomed, but miners aren't getting rich quickly.
I won't be surprise to see Oil back at more than 100$/barrel within 2 years. Bitcoin will be back at 1000$ soon too.
The world is changing and most people don't get it.
The price of BTC is not correlated to oil price. With the oil supply surplus, it will not go to $100 easily.
Bitcoin and Oil should go up in price nominally as more fiat are inflated.