Bitcoin, the flagship crypto asset recently hit $66,000 a several months high following a bad start in September.
The crypto asset has dominated the market for most of the year but recently some Altcoins have shown serious potential and have performed quite well.
As October draws nearer, Investors are turning their attention towards Altcoins with huge potential and are quite capable of outperforming Bitcoin in the coming months.
These alternatives make for better investment given they are significantly cheaper than Bitcoin and are currently doing so well in the market.
We are now going to look at three high-performing Altcoins that have shown potential and are predicted to outperform Bitcoin come October.
ThorChain (RUNE)
RUNE token, the native cryptocurrency of decentralized liquidity Thorchain is one of the altcoins predicted to outperform Bitcoin this coming month of October. A major factor for this prediction is the rise in Rune’s volume which has heavily influenced its 30-day price increase.
With RUNE’s price currently at $5.34, the asset appears to have hit a roadblock at $5.40. As a result of this little obstacle, the asset could face a brief pullback similar to what happened in May.
With that said, the asset could replicate a rerun of the performance that saw the price bounce and climb to $7.28.
The above information suggests that the crypto asset could hows a possible 40% price increase to $7.54 in October 2024 making it a highly-performing altcoin in the market.
Stacks (STX)
Stacks (STX) is another altcoin with the potential to outperform bitcoin come October. Stacks is a Bitcoin layer 2 project that expands the development of smart contract applications on Blockchain. The native token of the Stacks project (STX) has witnessed its price surge by 20% in the last seven days making it one of the high performing assets in the market.
The major factor for STX making this list is the anticipated Nakamoto upgrade slated to happen on October 9. The event which is viewed as a bullish sentiment was named after Bitcoin’s founder Nakamoto Satoshi.
STX’s current price sits at $1.964 on a daily chart the altcoin price dropped to $1.05 during the August 5 crash.
Technical analysis shows that STX has the potential to rise by 20% and hit $2.38 in October 2024. The predicted 20% rise makes it one of the high performing altcoins slated to outperform Bitcoin in 2024.
Fantom FTM
Fantom made this list solely because of the expected Sonic Upgrade. The sonic upgrade is expected to improve certain features on the blockchain including translation speed and storage efficiency.
The FTM token has been one of the best-performing altcoins in recent times, and could also see a migration to the ticker Technical analysis reveals that FTM could rise by a whopping 36.7% reaching $0.92
The 36.7% predicted surge makes it one of the altcoins that could outperform Bitcoin.
What to Know
- Technical Analysis implores various checks and balances to predict the price movement of crypto assets. metrics like Simple Moving averages, , Support, and Resistance are used to predict the future price of an Asset.
- Bitcoin at the time of writing is currently sitting at $65,725
