Finance

Virgin Galactic Chairman Correctly Predicted the oil Price Crash

It is evident that people who have opinions on Bitcoin may be slightly more knowledgeable about the financial markets in general.  Virgin Galactic Chairman and Social Capital CEO Chamath Palihapitiya is one of those individuals.

There are many people who have opinions on the financial markets.

Virgin Galactic Chairman Blasts Oil price Predictions

Most of them hardly ever get any prediction right, but that is not entirely abnormal.

Virgin Galactic Chairman Chamath Palihapitiya is certainly an individual worth keeping an eye on.

He predicts that the Bitcoin price will hit $1 million eventually.

That is not the prediction most people are paying attention to, however.

Related Post

His other prediction is how the price for oil will drop to near zero or even go negative in the coming weeks.

That prediction was made well before the oil futures effectively went below zero this week.

It now seems that that prediction by the Virgin Galactic Chairman will come true sooner rather than later.

It is evident that the global demand for oil is dropping rapidly, primarily due to the coronavirus crisis.

As that situation won’t necessarily improve right away, there is a chance that this downtrend will remain in place for weeks, if not months.

Oil is not a market anyone should invest in given the current circumstances. 

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

$ARB Holders Face Full Losses, but Market Conditions Could Indicate a Reversal

Current statistics from @intotheblock have illustrated a dire situation for $ARB holders, showing that virtually…

16 hours ago

DeFi Revenue Skyrockets 2600% in Four Years, Solana Surges with Record GDP Growth

The sector of decentralized finance (DeFi) has had an impressive boost, with cumulative DeFi revenue…

16 hours ago

FLUID Breaks DeFi Records, Reaching $10B in Volume in Just 100 Days

FLUID has achieved something never before seen in the world of decentralized finance (DeFi). In…

16 hours ago

Whale Exits $WIF Position at a Loss: A Cautionary Tale of Short-Term Trading Volatility

Once again, the cryptocurrency trading world has displayed its volatility and unpredictability. This was shown…

16 hours ago

Berachain Makes a Strong Debut, Surpassing $1.8 Billion TVL and Garnering Strong Interest from DeFi Protocols

In a stunning introduction to the blockchain world, Berachain has attracted the attention of DeFi…

16 hours ago

$TST Token Soars 4700% in 30 Minutes After Binance’s CZ Tweet Sparks Massive Trading Frenzy

The recent surge of the $TST token, a project of the BNB Chain team, has…

16 hours ago