The analysis shows that, like the Nasdaq index, Bitcoin may recover rapidly in the medium term. Bloomberg Emerging Markets analyst Michael Patterson wrote, "If Bitcoin actually bottoms out, history shows that there will be more upside. The Nasdaq index more than doubled in the five years since the bubble burst. Since then, it has reached a record high, far above the peak of the online frenzy.” Since the 12-month low, bitcoin prices have rebounded to $5,000, with a value increase of 60 in less than four months. %.