Bitcoin is extremely undervalued when its should be $500,000 by now considering the inflation and high food and gas we are experiencing.

They are manipulating it by creating artificial bitcoin via futures and options and shorting it like what they do to gold. But it is what it is , they cannot control it much though and it will have to go up.

Also every cycle they fabricate a scare , used to be china bans bitcoin (then you see chinese are buying bitcoin from hongkong all the time, from mainland using VPN, and lots of miners and exchanges owned by chinese, heck even mining rigs are made in China), now there's quantum computing scare, when bitcoin network at this stage is impossible to break since its already online for like 20 years and protected by hundred thousands of supercomputers all around the world, and if quantum computer becomes available then they will be mining bitcoin and securing it as well.