Soaring Oil Prices Aren't Great for Bitcoin. Here's Why Investors Shouldn't Panic.

At the time of this writing, there's optimism that the U.S. and Iran may agree on a way to reopen the Strait of Hormuz, the vital waterway that normally carries about 20% of the world's oil. However, oil prices remain elevated, and although stock markets have largely shaken off conflict-related concerns, the full effect of the blockage has yet to play out. For crypto, high energy costs affect Bitcoin (CRYPTO: BTC) mining operations. More importantly, Bitcoin's price is sensitive to changes in inflation and consumer sentiment, both of which suffer when oil prices are high.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool