Odaily News Trader Eugene said in the Telegram group that the current market has entered the fifth stage in the figure (long losses, coin price consolidation, shrinking trading volume and volatility). At this stage, some stronger altcoins have reached the bottom, but it is still uncertain whether the global bottom of most assets has arrived.
Eugene explained that this phase is the phase in which he participates the least, mainly because the volatility is very small whether it is rising or falling. He will only try to pick one or two targets that he thinks are more defensive than ordinary altcoins, hoping that they can perform better if he is wrong in his bearish judgment, but that's all.
The tricky thing about phase 5 is that it could last for any length of time. In my opinion, given the lack of structural damage (no companies or projects going out of business), I don’t think we’ll stay in this phase as long as the last cycle, but that’s just speculation on my part. Cryptocurrencies may still follow the stock market for a while.