Your thought is very relevant and you are on point, Bitcoin is indeed the gateway to other Crypto Currencies and is still undervalued however I think the $5k is still undervalue too, I personally think that Bitcoin should worth around $25k as at the time of this post and should rise above $50k before the end of 2018 since the total circulating supply is just 21million.
RE: Why I Think Bitcoin is Still Undervalued