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How Does the Drop in Oil Prices Affect Cryptocurrency?



Because of the COVID 19 outbreak, all markets have been affected, and an unprecedented event that occurred today is that the overall oil prices turned negative for the first time. How will this drop affect the cryptocurrency market?

Why Have Oil Prices Gone Negative?

But while the prices are in the negative, this does not mean that oil is sold for free. The reason why the oil price is in this situation is that transports halted at a global level and thus resulted in oil tanks to rapidly fill up and to create a demand loss.

This forced traders to ...

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