Crude oil and Bitcoin

Crude oil dropped more than 100% on Monday. At lowest the price reached negative $37.63, something that has never happened before. Bitcoin price along with this oil crisis dropped nearly 5% depending on exchanges to $6,880 this morning below the support level of $7,200. Losing the $7,000 price support the price is hovering around $6,800 to $6,500.

Many crypto supporters is whispering now that Bitcoin’s capped provides a unique position as compared to limitless printing of the US dollar and extraction of oil.

Bitcoin attempted a few times to pass the $7,200 barrier. There’s a good bullish support at the $6,700 and $6,600 level. If Bitcoin slides below this level then the bears runs in and we might see a $6,000 next support level.

Stacie Meng is the BD Director of Bitoll *a new wallet Company in Hong Kong, advisor to RIODEFI / RIO CHAIN, Co-Founder of Alice Live *creator of the 1st crypto ecommerce game and former Miss China 2017.

——Stacie Meng

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