Last week the price of oil was skyrocketing; this week-crashing. Oil managed to enter bear market in 5 days.
In this video I discuss what the gloom and doom people rarely mention: cycles. What goes up very quickly usually comes down equally as fast. Nothing in markets is every a straight line. We might experience volatility for a while. However, if economic conditions are facing major headwinds, high oil prices (gasoline) will not last. History shows that the economy simply cannot handle oil at these levels.
▶️ 3Speak
I do not feel secure when the prices of commodities fluctuate like altcoins. The recent crash in the price of oil was an indicator of something worse for the whole economy IMHO. Nowadays, I really have difficulty in finding a safe spot to preserve my purchasing power in fiat.
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Yeah commodities can be volatile and a war doesnt help. However, we know they do not go up forever. There were calls for $300 oil in 2007, a level never reached. Hysteria always rules the day.
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Wow,this is very bad,only God that can help us in this world.since the price of petrol is high now , majority of people will suffer for it. Because many countries depends on it.
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There's never a stable price right from time because it fluctuate and the only hope we have is to experience it favourable to us
That makes a lot of sense, whatever goes up must goes down. Had I knew that since I got in crypto, I'd be better positioned now... But wait, I did, I just didn't paid attention to market sentiment, same as many are doing now with oil. It's annoying as hell knowing that oil has gone down by over $30 a barrel, but gas at the pump is still as high as it was when oil was valued at $130. Moreover, it's even more annoying that gas stations are speculating on this although we don't actually import oil from what I know, so why the heck to they correlate prices with barrel of oil?
It makes me wonder why the prices go up so fast but drop so slowly. Is it because they have already paid higher prices for the existing stock or is it to take advantage of the consumers? I find that to be kind of true in all industries.
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Huge price shifts all around. I have to say even worse than that of crypto so that whole volitivity thing they keep throwing at Crypto is the same thing that happens in commodity and stocks. Oil went from $123 down to $95 in the matter of just 7 days that's huge!
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That is very true. Generally, that is what happens when any product rises very fast, it regularly falls just as fast, and nothing is maintained over time. In addition, the war between Russia and Ukraine has favored this new increase in the price of Oil.
People are like sheep and we have seen another example these days. My view on all these extreme movements is that industries will need to adapt and seek new tech to provide lower-cost, tech that maybe was avoided for a too long time. Let's see if the electric car revolution will boom this year, alongside other energy production alternatives. I sure think that the time for change is now!
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