Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are “really underowned” assets as far as Milk Road analyst John Gillen is concerned.
Even so, he says market participants that have not captured the latest rally should refrain from “panic-chasing.”
Why Was Last Week’s Crypto Rally Inevitable?
Speaking on the Milk Road podcast on Monday, Gillen stated that Bitcoin’s volatility had dropped to levels seen in only 6% of its entire history before last week’s explosion.
Volume was historically low, open interest was climbing, and the market was heavily positioned for further downside.
