This should be common sense and I hope I don't piss off anyone around here. BTC has a greater volume then it did 15 years ago so I'm only interested in the last 5 years of BTC. Now I started thinking and I know that's dangerous since I like to put out my findings when I see something. I believe there is a relationship between oil and BTC. When oil is high and people are complaining about energy prices, it seems that BTC goes down in value. This does make sense seeing that the price of energy is used.

So let us look at 1 month of BTC and 1 month of OIL/per barrel.  Its pretty evident of the inverse relationship.

If you notice the two 1 months graphs between oil and BTC you can see an inverse relationship.  Since BTC burns electricity that's power usage and what ever supplies that power whether its hydro, oil or sun it would impact BTC prices.  Now the real trick is to know when oil is going to go up or down for the day.  If one knows that then a BTC analyst would be crushing it.

By the way this is not a tip its just what I see, but what would happen if many traders were buying and selling on the same information?

I did find some delays in the graphs where the inverse relationship took a little time.  If you have a pretty fast trading machine, I guess the sky is the limit for going green on BTC. :)

I'm going to buy some BTC and trade on oil futures, but that's just me.  I think I see some green.

Disclaimer:

Of course I did not tell you how to trade, because that's your business.