On March 23, trader Eugene posted a picture and text on his personal channel, saying that he believes that the current market has entered the fifth stage of the chart (long losses, currency price consolidation, trading volume and volatility shrinkage). At this stage, some of the stronger altcoins have reached the bottom, but it is still uncertain whether the global bottom of most assets has arrived. Eugene explained that this stage is the stage where you participate the least, mainly because the volatility is very small regardless of whether it rises or falls. I will only try to pick one or two targets that think are more defensive than ordinary altcoins, hoping that they will perform better if they make mistakes in their bearish judgments, but that's all. The tricky part of the fifth stage is that it may last for any length of time. In my opinion, given the lack of structural damage (no company or project collapse), I don't think we're staying at this stage as long as the previous cycle, but that's just my guess. Cryptocurrencies may follow the stock market trend for some time.