Trader Eugene: Bottom of the Strong Altcoin may have been reached, but the current low volatility phase is not an entry opportunity

BlockBeats News, March 23rd, trader Eugene posted a text and image in his personal channel, stating that he believes the current market has entered the fifth stage as shown in the chart (bullish capitulation, price consolidation, volume and volatility contraction). In this stage, some stronger altcoins have already bottomed out, but it is still uncertain whether the global bottom for most assets has arrived.

Eugene explained that this is the stage where he is least involved, mainly because whether in an uptrend or downtrend, the volatility is very low. He will only try to pick one or two assets that he believes are more defensive than ordinary altcoins, hoping that if he is wrong in his bearish judgment, they will outperform, but that's all.

The tricky part of the fifth stage is that it could last for any length of time. In my opinion, considering the lack of structural damage (no companies or projects folding), I believe we will not stay in this stage for as long as the previous cycle, but this is just my guess. Cryptocurrency may continue to follow the stock market for a while.