PANews reported on March 23 that trader Eugene stated in his personal channel that the current market has entered the fifth stage in the chart (long positions suffering losses, cryptocurrency price consolidation, and shrinking trading volume and volatility). In this stage, some stronger Altcoins have reached their bottom, but it remains uncertain whether the bottom for most assets has been reached. This is the stage Eugene participates in the least, mainly because volatility is very small regardless of whether prices rise or fall. He will only try to select one or two targets that he considers more defensive than ordinary Altcoins, hoping they will perform better if his bearish judgment is wrong, but nothing more.

The tricky part of the fifth stage is the uncertain duration. In his personal view, considering the lack of structural damage (no company or project bankruptcy), it will not remain in this stage as long as the previous cycle, but this is just a personal speculation. The crypto market may continue to follow the stock market trend for some time.