I am not sure BTC is undervalued until it starts to scale. Once LN is up and fees are back down to <5$ I would say it is undervalued. In reality, it is more or less unusable currently.
RE: Market Dips (but the fundamentals haven't changed) - Correlation between Altcoins and Bitcoin
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Market Dips (but the fundamentals haven't changed) - Correlation between Altcoins and Bitcoin