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The price of oil will determine what Bitcoin does in the coming days.
We’ve dropped significantly from yesterday’s high, but oil is still trading around $90, which is still quite elevated.
If oil moves higher again, it would be bearish for the economy and for Bitcoin. If it continues to move lower, it would be bullish for both.
However, I don’t expect oil to move much lower until the war is officially over. I expect significant volatility in oil prices.