Analyst Kharitonov: Bitcoin rally only halfway done, more gains ahead
Kharitonov argues that Bitcoin has reached a “fair price” level
The current Bitcoin rally is likely far from over, according to analyst Anton Kharitonov, who suggests the market remains far from “overheated.”
Despite investor concerns over potential peaks in the cycle, Kharitonov believes Bitcoin has significant room for growth based on long-term trends and key indicators. For investors, this analysis suggests that the time to lock in profits may still be a long way off, with Bitcoin potentially poised for sustained gains in the coming months. Kharitonov’s outlook offers reassurance to those concerned about a possible peak, highlighting that the current market dynamics support further appreciation in Bitcoin’s price.
VAPLI Indicator Signals Room for Growth
Kharitonov points to the VAPLI (Volatiltiy-Adjusted Price Level Index) as a critical measure of Bitcoin's position within its broader trend, taking into account the “power law” that governs its pricing structure. “We’re only just returning to the neutral zone,” he explains, noting that Bitcoin has remained undervalued for an extended period. This undervaluation, he says, was primarily due to factors such as regulatory pressure and significant sell-offs, particularly from the German government.
As the market stabilizes, Kharitonov argues that Bitcoin has reached a “fair price” level, setting the stage for a continued rally. “We’re essentially only halfway there,” he adds, downplaying the notion of a market peak and suggesting that the current valuation represents a mid-cycle equilibrium rather than an overheated phase.
While Kharitonov acknowledges the likelihood of short-term corrections, he is confident that they won’t derail the broader upward trend. “The peaks of this crypto cycle will be much higher,” he states, predicting that the top could arrive in the latter half of 2025.
Last month, Anton Kharitonov shared a bold prediction on his Telegram channel, forecasting that Bitcoin’s price could reach $100,000 within the next three months, potentially by January 2025. Kharitonov’s projection hinges on anticipated interest rate cuts from the U.S. Federal Reserve, with expectations of a reduction of 50-75 basis points before the year’s end.
