Bitcoin's valuation compared to gold has reached its lowest point since 2015, according to data from Bitwise and Bloomberg. The Z-Score, a metric that measures Bitcoin's price deviation from historical averages, has dropped to a historical low, indicating that Bitcoin may be undervalued relative to gold. This situation mirrors the conditions in 2015 when Bitcoin was priced at $160 before experiencing a 100x surge. Crypto analyst Michaël van de Poppe highlighted the current Z-Score, which is below -2, suggesting Bitcoin is underpriced. This metric, based on global liquidity, points to a potential future surge in Bitcoin's price, similar to the significant growth seen in 2015. The BTC/gold ratio's decline suggests Bitcoin could be poised for recovery, presenting a possible opportunity for investors.