Bitcoin’s current price may be undervalued, presenting significant upside potential, according to a crypto researcher who compares the situation to the COVID-induced price drop in March 2020. Despite a recent 17.33% decline in the past 30 days, Bitcoin is viewed as pricing in a recessionary growth environment.

Following Bitcoin’s drop from all-time highs and a decrease below $100,000, market sentiment has deteriorated, but some hope remains for a rebound. The crypto community remains divided on whether the recent downturn signals the start of a bear market or a temporary setback. Analysts anticipate a potential recovery and strong rally ahead.

Crypto trader Alessio Rastani and BitMine chair Tom Lee offer contrasting views on Bitcoin’s future, with Rastani suggesting a historically recurring setup that often precedes strong rallies, while Lee expresses confidence in Bitcoin reclaiming $100,000 and potentially reaching new all-time highs by year-end. Market participants closely monitor price movements and macroeconomic conditions for potential opportunities.

Read more at Cointelegraph: Bitcoin ‘Risk-Reward’ Setup Similar to COVID: Analyst