The correlation of oil price with bitcoin is quite visible. Means any time the price of oil rises some of the profit is pumped into bitcoin. As well the crush of oil price results to crush of bitcoin. In this sense I guess the next crush of oil price, that is expected in may will lead again to crush of bitcoin market.
Kommentera
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USA is going to increase the oil export. Saudis also do not want to continue the OPEC agreement on limiting the export, that must be renewed in 1 July...
Terrorist attack on the biggest oil plant in Saudi Arabia this Saturday will most likely push the oil price higher (+5-10 USD per Baril, meaning + 5-10% ). Expect Bitcoin to gain momentum! !and push higher!
viparmenia
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@Shark421, there is too much capital escaped the bitcoin market last time. The volume is too low and so most possibly the bitcoin price is in stagnation and will do nothing ...
DeanKueh
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I share the same opinion, glad to see another person sharing the same :)