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🚨 URGENT: SURGE IN OIL PRICES IS THE WORST THING THAT COULD HAPPEN TO BITCOIN AND CRYPTO RIGHT NOW.
It has just been announced that the Strait of Hormuz has been completely blocked, meaning oil tankers can no longer pass through there.
To give you some context, 20% of the total oil supply passes through here and is now blocked, which could cause oil prices to spike.
High oil prices drive global inflation and put the Fed and central banks in a deadlock: either tolerate inflation or raise interest rates with the economy slowing down.
And if interest rates rise, the available money for risk assets dries up. Bitcoin and crypto included.
The coming days will be crucial to see the overall direction. This would be the worst-case scenario in the short term.