According to ChainCatcher, trader Eugene posted in his personal channel that the current market has entered the fifth stage (long positions suffering losses, price consolidation, and shrinking trading volume and volatility). In this stage, some stronger Altcoins have reached their bottom, but it remains uncertain whether the global bottom for most assets has been reached.

Eugene explained that this is the stage he participates in the least, mainly because volatility is very low, whether rising or falling. 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 that it could last any length of time. In my view, considering the lack of structural damage (no companies or projects collapsing), I believe we won't stay in this stage as long as in the previous cycle, but this is just my speculation. Cryptocurrency may continue to follow the stock market trend for some time.