Top Cryptocurrencies to Consider Buying in October – MEW, Hedera, Fantom
Altcoins
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Digital Currency
Last updated:
October 15, 2024 17:06 EDT
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Last updated:
October 15, 2024 17:06 EDT
The cryptocurrency market is currently experiencing volatile but positive trading conditions as investors scramble to find the best cryptocurrencies to invest in before a potential surge in the latter half of October.
Former US President and Republican Presidential nominee Donald Trump, a supporter of cryptocurrencies, is leading the polls in crucial swing states and is favored by bettors ahead of the November election.
With anticipation for a Trump victory growing, the “Trump trade” is in full swing, causing Bitcoin (BTC) to reach nearly $68,000 earlier in the session before retracing slightly to just under $67,000.
This surge in the market is happening at the ideal time, as October is historically a strong month for Bitcoin and other major cryptocurrencies, with most of the gains occurring in the second half of the month.
Bitcoin’s momentum could continue to grow, potentially leading to new all-time highs just in time for the US election.
This makes Bitcoin a compelling choice for investors looking for the best cryptocurrency to buy now.
However, for those with a higher risk tolerance, there are alternative cryptocurrencies that offer greater potential for upside.
Here are some altcoins that could be the best cryptocurrencies to buy right now.
Top Cryptocurrencies to Buy Now
Cat in a dogs world (MEW)
MEW, a playful meme coin on the Solana blockchain, has emerged as one of the top gainers on Tuesday.
According to CoinMarketCap, the meme coin has surged by 16% in the past 24 hours and is now approaching resistance around $0.0090.
MEW’s technical indicators are promising, as it has consistently formed higher lows in recent months, suggesting an imminent breakout to the upside.
With a market cap of just under $800 million, MEW has the potential to become the next billion-dollar meme coin and is a strong contender for the best cryptocurrency to buy now.
Hedera (HBAR)
Hedera (HBAR), a decentralized blockchain network focused on dApps, is another cryptocurrency experiencing strong momentum on Tuesday.
TradingView reports that HBAR has gained 6% for the day and is currently trading in the $0.056 range, having recently surpassed its 50-day moving average.
If HBAR can break out of its current range, it could quickly rally by over 3x and reach its April highs around $0.018.
This makes HBAR another excellent choice for investors seeking the best cryptocurrency to buy now.
Fantom (FTM)
Fantom (FTM), an innovative layer-1 blockchain protocol, is among the top-performing cryptocurrencies on Tuesday.
CoinMarketCap shows that FTM has gained 7% for the day and has reached its highest level since June, hovering around $0.80.
Fantom is known for its high volatility and could surge back to yearly highs above $1.20 if a new bull run in the crypto market is underway.
However, investors looking for the best cryptocurrency to buy now should not limit themselves to the major altcoins mentioned above.
For those with a higher risk tolerance, exploring cryptocurrency presales could offer opportunities for significant returns, ranging from 20x to 50x.
Of course, presales come with their own risks, as success depends on the team’s ability to deliver on their promises and the project’s ability to gain traction in the market.
Therefore, investors must conduct thorough due diligence before making any investments.
Interested readers can refer to Cryptonews.com’s list of top presales to consider buying in October as a starting point.
15 Best Cryptocurrency Presales to Invest In Now
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Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes only and does not constitute investment advice. There is a possibility of losing all invested capital.
