Home Crypto Promising Cryptos: Top 5 Cryptos Not To Be Missed For October!

Promising Cryptos: Top 5 Cryptos Not To Be Missed For October!

September was unfortunately a bearish month for the cryptocurrency market. Which isn’t too surprising when you look at the market’s performance in September over the past 12 years. By way of illustration, the average growth of bitcoin in September amounts to -7% on the series.

However, the month of October seems like a month of optimism for the market if we look at this same time series. The average performance of bitcoin in October over 12 years is 31% and that of altcoins is equally impressive. This year again, investors are very positive for an upward recovery during the month of October.

To take advantage of this bullish phase, we have decided to make a list of 5 cryptos that you must buy at all costs. It is good to specify that this is the first series of promising October cryptocurrencies. It is made up of cryptos that institutional players are accumulating during the downturn. Generally, they include less risk of volatility than others.

Bitcoin: Aiming for the ATH of $ 64,500

Current price: $ 43,524

Gain / Loss in September: -7.5%

Growth margin in relation to its ATH: 32.6%

4-hour graph: Evolution of the price of Bitcoin (BTC)

When Bitcoin is going… Everything is going! The cryptocurrency market now more than needs a good signal from “ King Coin “Which seems to be caught in a” downtrend pattern “. To get rid of this bearish trap, bitcoin must defend the $ 43,600 and also avoid falling below $ 40,000. If he respects this scheme, the $ 50,000 should be reached by early October.

Other than the US regulatory threat, October awaits bitcoin with a series of bullish openings. There is the acceptance of a bitcoin ETF which is expected to be a giant leap from bitcoin to institutional traders who have not stopped accumulating during the bearish period. Bitcoin transactions over $ 10 million hit 10 billion in September, according to Coinshare. Levels that exceed the volume of transactions at the time of bitcoin’s ATH.

Unlike September, it won’t have any big events in the options market. The largest bitcoin options contract expiration for the month of October stands at 24,400 bitcoins, which is 3 times less than that of September. But the recovery in long rates remains a variable to watch very closely because the more it rises, the less Bitcoin progresses.

Ethereum: Why not cross the $ 5,000 mark?

Current price: $ 3,019

Gain / Loss in September: -6.2%

Growth margin in relation to its ATH: 30.33%

Graph 4 hours: Evolution of the price of Ethereum (ETH)

China’s crypto crusade has just hit Ethereum’s network with a bang. Ethereum mining companies are in the Chinese crosshairs. BeePool and SparkPool two large Ether pools declared that they would cease all operations on Chinese soil. In reality, this hunt for Ether miners is not such bad news as it puts a lot of pressure on the developers of the public blockchain to launch the version of Ethereum 2.0. No need to remind you how bullish this event will be for the ETH price.

Institutionals are also pouring into Ethereum and some believe it could even overtake bitcoin. According to a study conducted by JP Morgan, institutional investors are much more interested in ETH futures than BTC. ETH futures represent the tidy sum of $ 65 billion. Polygon co-founder Sandeep Nailwal even said that Ethereum’s network will be ahead of bitcoin’s over the next few years.

The ETH course is established at $ 3,019 at the time of writing this article. ETH’s next very short-term target is $ 3,600 should the rise take shape. Afterwards, we see him quickly attacking the $ 4000 and then overtaking the ATH to finally touch the $ 5000. However, everything will depend on the boom in the market and the conditions of the Ether network.

Solana: Resume resistance of $ 200

Current price: $ 138

Gain / Loss in September: + 26.9%

Growth margin compared to its ATH: -34.4%

Graph 4 hours: Evolution of the price of Solana (SOL)

The best crypto of the summer has entered a corrective phase for a few days even if its growth over the month remains positive. However, Solana lost almost 34.4% of her ATH to $ 213.47. Is this the end of Solana’s bullish phase?

Not if the market were to recover during the month of October. Crypto is bought by institutional players. The Solana network is the best competitor to Ethereum for scalability solutions. The launch of the FTX NFTs Marketplace is a concrete example of the use of the SOL network.

Traders still remain on the forecast of a SOL at $ 500 for the end of the year. Which would translate to a market capitalization of 150 billion. If it sounds a bit surreal, but you can’t easily stop a bullish SOL. As a reminder, after two months, its price has increased by more than 500%. It is behind the ethereum the network that hosts more NFTs projects. $ 500 difficult but if a bullish wave were to set in, he would quickly regain his ATH level.

Cardano: Paving the way to $ 5

Current price: $ 2.11

Gain / Loss in September: -22.3%

Growth margin compared to its ATH: 31.2%

Graph 4 hours: Evolution of the price of Cardano (ADA)

Cardano’s Hard Fork was a real success. Now the ADA network offers the possibility of developing smart contracts. Unfortunately, the launch of the Hard Fork did not impact the price of ADA like the announcement did. This can be understood by the downtrend that hit the market hitting during the post launch period.

Among the top 10, the ADA was the cryptocurrency that suffered the most during the month of September. The launch of smart contracts on its blockchain would not have been enough because it lacks the functionality of Dapps to fully compete with Ethereum. It must do so because the cavalry is large to compete with the ether at these points. Tezos, Avalanche, Celo, Solana, Fantom etc …

However, the ADA remains a good investment for the month of October when you look at the drop it suffered in September. The market rebound will certainly benefit him and we can clearly see him exceeding $ 3. Once completed, it would establish the royal road to $ 5.

Polygon: Attack the $ 2

Current price: $ 1.14

Gain / Loss in September: -13.7%

Growth margin in relation to its ATH: 56.5%

Graph 4 hours: Evolution of the price of Polygon (MATIC)

The layer 2 solution is losing its popularity and also its value in recent months but still remains a very promising stock on the stock market. Yesterday, Polygon overtook Ethereum in terms of active addresses after rising 330%. According to Polygon’s co-founder, the network had 351,000 daily active addresses on September 27, while Ethereum had 326,000.

Watch out for the sleeping water! The Polygon (MATIC) may be the big champion of the October bullish movement. MATIC is at -56.5% of its ATH. Possibility of gaining at least 25% considering a rebound towards $ 2 with a high probability following the Fibonacci diagram.

To conclude, if the bull were to be summed up, an investment in these cryptos would give a fairly considerable gain in October. In any case, traders are keeping their fingers crossed that the decision of the US Congress on the ” Infrastructure Bill Does not take into account the cryptocurrency market.

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