The price of oil collapsed below zero, following which there was a looming fear in the market about other commodities, and even Bitcoin [BTC].
However, the reduced price of oil could spell good news for Bitcoin miners.
The catastrophic drop in oil’s price led to oil producers wanting people to buy oil; however, many oil shipping containers continue to remain idle.
Going by the simple supply and demand rule, the excess availability of oil has pulled the price down to a very low level.
This sudden crash in the price of oil will have a positive impact on Bitcoin mining, according to Bitcoin educator and analyst Andreas Antonopoulos.

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