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RE: Oil Panic Sets Stage For Worldwide Depression
Nice readable explanation! The best I've seen on a blog so far that isn't OMG OIL NEGATIVE, CRYPTO FTW! Anyway, I had forgotten about the American frackers... Their costs are higher as I understand, and OPEC would prefer them to be out of the game.
@bengy, I'm not sure how this affects crypto. In the short run, it's probably negative for prices as we've seen so much correlation between traditional assets and crypto lately. In the long run, it shouldn't affect it, I would think. But it's really hard to tell during these unprecedented times.
I think it is likely to be bad as well... However much people want crypto to be a safe haven, it just isn't at the moment.
I think lots of people seem to be confused about the futures price going negative and the current price of crude (which isn't the petrol they put in the car...).