Bitcoin's 2024 Price Trends Show Parallels to 2019, Analyst Reports

Julien Bittel, Head of Macro Research at Global Macro Investor, recently discussed on X that Bitcoin’s price behavior in 2024 closely mirrors its pattern from 2019. According to Bittel, Bitcoin has been consolidating for 175 days this year, matching the length of its consolidation phase in 2019.

Bittel suggested that the market is nearing a pivotal moment, with the coming week likely to be crucial as investors watch Bitcoin's response to this potential turning point. The key issue is whether Bitcoin will follow the 2019 trajectory or take a different path. If the current trend continues, Bittel anticipates significant upward momentum for Bitcoin’s price.