ChainCatcher news: Trader Eugene posted a graphic in his personal channel indicating that he believes the current market has entered the fifth stage in the chart (long positions losses, coin price consolidation, Trading Volume and Fluctuation decline). In this stage, some stronger alts have reached the bottom, but it is still uncertain whether the global bottom for most assets has arrived.
Eugene explained that this stage is the one where he participates the least, mainly because the Fluctuation is very small whether it is going up or down. He will only try to pick one or two assets that he thinks are more defensive than ordinary alts, hoping that if he is wrong in his bearish judgment, they can perform better, but that's it.
The tricky part of the fifth stage is that it can last for any length of time. In my opinion, considering the lack of structural damage (no companies or projects going bankrupt), I don't think we will stay in this stage for as long as we did in the last cycle, but that's just my guess. Cryptocurrencies may also follow the stock market trends for a while.
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Trader Eugene: Strong alts may have already bottomed out, but the current stage of low fluctuation is not the right time to get on board.
ChainCatcher news: Trader Eugene posted a graphic in his personal channel indicating that he believes the current market has entered the fifth stage in the chart (long positions losses, coin price consolidation, Trading Volume and Fluctuation decline). In this stage, some stronger alts have reached the bottom, but it is still uncertain whether the global bottom for most assets has arrived. Eugene explained that this stage is the one where he participates the least, mainly because the Fluctuation is very small whether it is going up or down. He will only try to pick one or two assets that he thinks are more defensive than ordinary alts, hoping that if he is wrong in his bearish judgment, they can perform better, but that's it. The tricky part of the fifth stage is that it can last for any length of time. In my opinion, considering the lack of structural damage (no companies or projects going bankrupt), I don't think we will stay in this stage for as long as we did in the last cycle, but that's just my guess. Cryptocurrencies may also follow the stock market trends for a while.