Critical crossroads in Bitcoin: “It looks like a frighteningly 2019”

Financial analyst Julien Bittel stated that Bitcoin's price action this year is largely similar to 2019 and said, "Next week, it will be extremely important." Bittel commented, "If this fractal continues, we can see a serious upward movement."

Former asset manager and financial analyst Julien Bittel suggested that this year's price structure of Bitcoin is starting to look “freepy” like 2019. By sharing the chart below, Bittel emphasized that the movements of the number one cryptocurrency in 2024 are very close to 2019.

The black chart shows the current state of Bitcoin, while the pink chart shows 2019. Source: Twitter/Julien Bittel

“Bitcoin is stuck in a consolidation process, and interestingly, just like in 2019, this consolidation has lasted exactly 175 days so far,” the analyst said.