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

On March 23rd, trader Eugene posted a text and an image in his personal channel, indicating that he holds the view that the current market has entered the fifth stage as depicted in the chart (bullish capitulation, price consolidation, volume and volatility contraction). During this stage, some relatively stronger altcoins have already reached their bottom levels. However, it remains uncertain whether the global bottom for the majority of assets has been reached. Eugene clarified that this is the stage in which he is least inclined to get involved. Mainly because whether in an uptrend or a downtrend, the volatility is extremely low. He will only attempt to select one or two assets that he believes are more defensive compared to ordinary altcoins. He hopes that if his bearish judgment is incorrect, these assets will outperform. But that's all there is to it. The challenging aspect of the fifth stage is that it can last for any duration. In my opinion, considering the absence of significant structural damage (no companies or projects going bankrupt), I believe we will not remain in this stage for as long as the previous cycle. However, this is just my speculation. Cryptocurrency may continue to follow the stock market for a certain period.