Tom Lee said the volatility is “a feature, not a bug,” calling Ethereum dramatically undervalued and a core macro trade for the next decade.
First, who said that volatility is a bug? Volatility a market characteristic that touch every product. Low are high volatility it depends on many factors, but volatility is commun between all products in trading.
Second, yes it can be considered a feature, mainly in trading, especially with high volatile markets. Buy the dip and sell the top, this is a general rule in trading based on volatility.
Eth is undervalued as a trading instrument whose volatility is so high to generate short terms profits. But from other perspectives, I think it becomes overvalued.