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Bulls VS Bears Causing Major Fluctuations

After a week-long rapid rise in price, Bitcoin hit a record high of $67,000 on Wednesday. Since October, cryptocurrency has grown by more than 50 per cent and exceeded the market value of such technology giants as Tesla and Facebook. After hitting a record $64,800 in April, BTC Bulls has seen for the first time the highest rate ever, meaning a recovery in Bitcoin. The currency fell below $30,000 in July.

Bitcoin earnings were mainly positive for Ethereum and Solana, which have risen more than 10 per cent in the last 24 hours. Notably, Ethereum traded at $4,237.84 on Thursday. Bullish power increased and saw a 10% increase, which has not been the case since October 1. Ethereum’s market capitalization rose to $498.62 billion. Despite rapid growth, Ethereum is down 2.94% from its record high. The all-time high of Ethereum on May 12 was $4,366.10. Binance Coin increased by 2.27%.

The rise in prices showed that the total capital of the crypto market rose to an all-time high of $2.6 trillion. Analysts predict that Bitcoin is in the second central stage of the bulls and will exceed $100,000 by the end of 2021. However, some experts suggest the Bears may show up, and Bitcoin will fall sharply again. The spring scenario will be repeated.

KDA, TRAC, and CTSI gained double-digit numbers after BTC reached a new all-time high. KDA, TRAC and CTSI had the most significant gains in the last 24 hours. The CTSI price rose 51% to $1.07. The price of KDA increased by 33.65% to $3.47. Currently, the total capital of the cryptocurrency market is $2.637 trillion, while the dominance of Bitcoin is 47.5%.

Conclusion

Bulls VS bears cause significant fluctuations in the cryptocurrency field. The bulls effect and the positive rate after Bitcoin had a positive impact on other cryptocurrencies. However, some analysts suggest that perhaps the most popular digital currency will crash, affecting other currencies and putting bear dominance in the market.

However, the large fluctuations that are currently taking place in the trading sector are characterized by positive dynamics.

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