5 Best Cryptocurrencies to Buy Ahead of October 2022.
As we begin to see a rebound in the broader crypto market, now is one of the best times to start looking at projects that you believe will outperform the market on the way back up.
This gives you a chance to dollar cost average all the way.
Even though bitcoin’s price has fallen below $20,000, digital currencies continue to be a topic of discussion. Therefore, we have selected five projects that we anticipate will continue to perform well over the coming months and into 2023.
See also: What is Ethereum the Merge?
1. Ethereum (ETH)
Merge has positive effects for both blockchain users and crypto investors. The blockchain will gain speed and scalability, while the price of the Ether token will skyrocket.
By 2023, the token’s value may surpass $2,000.
Currently, the price of Ethereum is around $1,300. Ethereum enables the creation and publication of immutable decentralized applications by anyone (dApps).
Ethereum fueled the space now known as decentralized finance (DeFi) and forever changed the world of crypto.
When Ethereum’s consensus mechanism transitions from Proof of Work (PoW) to Proof of Stake (PoS), commonly known as ETH2, network transaction fees will decrease, and Ethereum will become more environmentally friendly.
2. Bitcoin (BTC)
Bitcoin is still holding strong between 18,000 and 22,000. We have a lot of support at these levels. However, the whales might pile back in soon, creating a parabolic movement that will drive the entire crypto market back up. So, now is a safe time to dollar cost average with BTC.
In September, Bitcoin experienced a decrease of around 5% on average. You have to go back to the 2016 price charts to find the last time that September for Bitcoin was positive; Bitcoin has decreased in September for five years in a row. Hence, it is understandable why this September is no different from previous ones. Historical evidence suggests that Bitcoin’s price imbalances are usually recovered in October.
On average, October produces returns of roughly 26%, making it the fourth-best month historically for Bitcoin. Even better, November is the second-best, with Bitcoin’s price increase on average by 40%.
So, if you’re considering stacking up some Bitcoin, now is a perfect time.
3. Cosmos
Market cap: $3,763,705,545
Cosmos calls itself the internet of blockchain since they are an ever-expanding ecosystem of apps and services that are interconnected and built for a decentralized future. They have
Since its initial coin exchange at $6.49 at the beginning of 2021, ATOM, the native asset of Cosmos, has seen a significant price gain. 2021 saw a 450% return from ATOM. The performance of the digital asset over the past 12 months has not shown any signs of slowing down.
Most experts think the ATOM coin has a lot of room to expand for this main reason. Others believe that making a long-term investment in Cosmos’ token is one of the best moves they could make. As a result, now might be the ideal time to invest in Cosmos (ATOM), as the coin continues to offer its holders substantial returns.
The introduction of decentralized financing (DeFi) to Cosmos is among the most compelling reasons to invest in ATOM. This will help ATOM acquire new customers, as a decentralized exchange enables the purchase, sale, and storage of cryptocurrencies.
See also: The Best NFT Marketplaces in 2022
4. Solana
Solana is performing better than Bitcoin, Ethereum, and the entire cryptocurrency market. Solana, which ranks ninth in terms of market capitalization, is the world’s quickest blockchain and has an exceptionally fast ecosystem.
Solana’s SOL token has lost 23% of its value in the past month as Ethereum prepared for The Merge, its most significant upgrade.
Solana’s primary selling features are its fast blockchain and low transaction speeds, both of which Ethereum’s Merge fork on September 15 aimed to solve. Solana also hosted a successful hackathon in which 750 new projects were developed for its ecosystem.
Solana’s ecosystem includes lending protocols, DeFi initiatives, NFT marketplaces, Web3 applications, and decentralized exchange (DEX) projects. In addition, Phantom, a Solana wallet designed for DeFi and NFTs, and Audius, a decentralized music sharing network, are included.
Experts predict that the token’s price will rebound from $53.50 in the near future. It would be a shame not to take advantage of the Solana cryptocurrency recovery at this time.
5. Shiba Inu
Market cap: $6,139,505,765
Popular crypto meme August was quite a busy month for Shiba Inu, especially considering its price decline. This was merely a temporary phase, as the token’s price is already increasing slightly.
Undoubtedly, the introduction of the stablecoin SHI Stable Coin will benefit the price of this cryptocurrency. By 2023, it may reach $0.00000016.
Shiba Inu’s recent entrance into the Metaverse is one of the variables likely to work in its favor. The Metaverse is regarded as one of the next major developments in crypto. Some researchers predict that the Metaverse will have a market worth of $8 trillion by the end of this decade. Nevertheless, the Metaverse is only one of the reasons why investing in Shiba Inu could be lucrative.
Tokenomics is another reason to buy Shiba Inu now. When Shiba Inu initially joined the market, there were one quadrillion tokens in circulation. By mid-2021, around 50 percent of this supply had been removed from the market.
This resulted from Vitalik Buterin’s choice to burn the 50% of tokens assigned to him by the Shiba Inu team at launch. Shiba Inu has continued to burn tokens since then.
In April 2022, the Shiba Inu team launched a token burn platform. This indicates that SHIB tokens will become increasingly rare over time, and based on the economics of demand and supply, Shiba Inu has the potential to become one of the best-performing meme coins in the future.
See also: Pancake Swap for Beginners.
To Sum It Up
Here are 5 projects we believe will perform well in the next few months. Bitcoin is still holding strong between 18,000 and 22,000, so now is a safe time to dollar cost average with BTC. Cosmos is an ever-expanding ecosystem of apps and services built for a decentralized future. Their native asset ATOM has increased substantially since the start of 2021 when it traded for a coin at $6.49.
Now could be the perfect time to invest in ATOM while the coin continues to bring high yields. The launch of the stablecoin SHI Stable Coin will undoubtedly positively impact the price of this crypto. It may reach $0.00002016 by 2023. Shiba Inu had one quadrillion tokens in circulation when it first entered the market.
However, the first rule of investing is to conduct adequate research before investing money in any asset.
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