Daily Times

The cryptocurrency market remained bullish on Thursday, with the market cap gaining 1.1 percent to reach $1.99 trillion as of 1250 hours GMT.

The price of bitcoin (BTC), the largest cryptocurrency, gained 4.05 percent to reach $43,642. With this increase in price, the market capitalisation of the biggest cryptocurrency has reached $821.7 billion.

Likewise, ether (ETH) price went up by 4.11 percent to reach $3,020. With this increase in price, the market capitalisation of ETH has reached $354.4 billion.

Similarly, XRP price gained 3.48 percent to reach $0.952. The market capitalisation of XRP stands at $95.2 billion after this increase.

Similarly, cardano (ADA) price snapped its losing streak and gained 0.30 percent to reach $2.11. Its market capitalisation has reached $68.3 billion after this increase.

Following suit, dogecoin (Doge) price gained 1.15 percent to reach $0.203. With this increase in price, the market capitalisation of doge has reached $26.6 billion.

According to experts, bitcoin price action is currently controlled by bears who are trapping bulls in their attempt to overcome the downtrend BTC has been in since the beginning of September. A retest of the base of the bearish triangle looks to be happening any time soon, around $40,750. A break lower would make bears push for the next supportive level at $38,073. Bitcoin price remained very much in the hands of the bears for most of September. In the recent development of price action, bulls have had no chance to break out of the trend. Instead, their attempts are met with ample firepower from bears trapping the bulls and then saddling them up with huge losses on their long positions.