The coronaviurs epidemic is pushing the price of oil into the abyss as restaurants, shops and manufacturers are constantly burdened in the coming recession.

When the WTI Oil futures contract fell to a negative value zone for the first time in history, producers are now in a "paying" position for users to bring oil back.

Max Keiser, a strong supporter of Bitcoin, calls this a major shift in the supply and demand model.

"I think the world is witnessing a major model shift and the old peak will probably never be repeated."

Cameron Winklevoss, co-founder of the Gemini exchange, said:

“After today, let's stop talking and say that oil is a store of value. The optimal options for investors are currently USD, Gold and Bitcoin. ”

Many experts predict this decline is short-term and especially when this type of contract expires next Tuesday. Accordingly, the price of the futures contract mentioned above has exceeded 20 USD per barrel after plunging sharply.

Analyst Mati Greenspan, co-founder of Quantum Economics, wrote:

“Up to now, the price of oil contract has dropped below the threshold of 1 USD per barrel, which is an interesting topic to write about today. Those who create content in the cryptocurrency market are too familiar with this type of event. It's like you have to delete your entire post in 5 minutes because the price just went down uncontrollably. ”

Popliano, a well-known analyst in the cryptocurrency Twitter community, has a status line that expresses a "cool" attitude:

"Wall Street can say whatever they want, but even sh * tcoins have never cost less than $ 0."

On Twitter today there is also a new metric called Oil / BTC. Now, however, it seems that the index is no longer effective when sometimes Oil is only priced at "1 cent," according to analyst Mati Greenspan.

At the time of writing, Bitcoin has just lost 4.77% and is priced at $ 6,864.