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May 01, 2020, 04:01:42 PM |
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Right now I think this is a very good question to be asking. My answer to this question as a financial guy by trade, is yes, oil could certainly be something the cryptocurrency community could or should be worried about. The reason being is pretty simple. Often there are times in the financial markets where Oil is a leading indicator of how stocks will bounce (whether up or down). Back in roughly 2016 seemingly every day the markets would flow regardless of all else, exactly on the news of Oil it's self. Love it or hate the cryptocurrency market is often effected by the price of stocks and the markets themselves. Just take a look at the past year and it's easy to see this trend. With the halving coming up, I'm really hoping for stable stock markets (which are right not closely related to oil markets).
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