Sorry, I'm not sure I follow. What does an alternative have to do with anything? There is no alternative to Bitcoin, nor oil, so I'm confused.
If not oil, Then look at copper, or gold, or silicone, or any currency against another. Look at stocks and indexes and funds, and so forth. There are always bear markets. Sometimes supply and demand of a good, products, money supply, or even new supply, etc ..
Captured market which Bitcoin doesn't have. Far easier to use dollars than to give up oil even today.
All of those numbers are markets manipulated by subsidies measured against a ruler that keeps changing length.
There really is nothing like Bitcoin. It should in theory behave like a measure of total human productivity, but that means different movements against different products just like steaks went up while TVs went down against the dollar.
Perhaps in 100 years, but certainly not in my lifetime.
