Bitcoin Price May Rebound Due to Undervaluation, Analyst Claims

A cryptocurrency expert has observed that the current price of Bitcoin may be undervalued compared to gold, potentially leading to a rebound in the digital currency's value.

Samson Mow, CEO of Jan3, a company specializing in Bitcoin technology, made this assertion. Mow pointed out that gold is considered overextended after reaching an all-time high price per ounce.

Bitcoin's current price disparity with gold could be attributed to its 24-66% undervaluation relative to the precious metal's market cap or global money supply. This discrepancy may indicate a reversal in Bitcoin's price trend, according to Mow.