Trader Eugene: Strong altcoins may have already bottomed out, but the current stage of low volatility is not the right time to enter

ChainCatcher message, trader Eugene posted a graphic in his personal channel indicating that he believes the current market has entered the fifth phase shown in the image (bullish losses, price consolidation, shrinking volume and volatility). In this phase, some stronger altcoins have reached their bottoms, but it is still uncertain whether the global bottom for most assets has arrived.

Eugene explains that this phase is the one in which he participates the least, mainly because volatility is very low whether the market is rising or falling. He will only attempt 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 can perform better, but that's about it.

The tricky part of the fifth phase is that it can last for any length of time. In my view, considering the lack of structural damage (no company or project failures), I don't think we will stay in this phase as long as we did in the last cycle, but that's just my guess. Cryptocurrencies may continue to follow the stock market trends for a while.