Bullish Altcoins – Top of October 2022

September has been a rough but exciting month for crypto. We saw the market reaching a new low assisted by the Federal Reserve “sledgehammer.” We also saw the coveted Ethereum Merge failing to reverse Ethereum’s negative price trend. 

As we are crossing into October, everyone is looking closely at BTC to see if it will hold on through the pressure and bring us any signs of an upcoming bull market.

But apart from Bitcoin, there are a many other crypto projects that are showing bullish behavior right now, despite the state of BTC. 

In this article we will discuss:

• What are altcoins?
• What are some examples of bullish altcoins?
• Why should you consider investing in them?

First, let’s briefly address the basics: 👇

What Are Altcoins? 

Altcoins are pretty much just any cryptocurrencies other than Bitcoin. Some also exclude Ethereum from the list of altcoins, because most currencies are either forked from BTC or ETH.

Aside from these two, other examples of altcoins include Litecoin, XRP, Tether, Dogecoin and many, many more. 

Altcoins have different purposes too, for example:

• Some were created as a means of payment (eg. Bitcoin Cash)
• Stablecoins are altcoins meant to reduce market volatility by pegging their price to real-world currencies (eg. Tether)
• Memecoins are tokens inspired by some internet meme or joke (eg. Dogecoin).

And since new altcoins are created all the time, there is definitely no lack of projects to invest into. But which altcoins look promising in the context of current bear market? 🧐

Bullish Altcoins in October 2022

Let’s start our list with…

Ripple (XRP)

Ripple has been showing some great resilience as of late. Just take a look at the monthly price chart:

As we mentioned earlier, September has been particularly difficult for most cryptos, but Ripple’s price went up against all odds. Just last week it rallied up by over 30%, surpassing BUSD to become the sixth largest crypto in terms of its market cap. 😯

In addition to that, Ripple ecosystem is actively improving. For example, developers may be enabling NFT minting and trading on the XRP blockchain soon, if the community votes for it. ✋

With such updates and market performance, many believe XRP to be one of the best altcoins to invest into right now.

Helium (HNT) 

Helium is a project set to build a “people’s network” – a network of wireless devices that can connect your home to the IoT. HNT has been surging in the last couple of days too. Look at the weekly price chart below:

Once again, this is a great performance given our current place in the bear market.

On top of that, the project is getting ready to begin its “Chapter 2” – an effort to create a network of 5G devices. Of course, some skeptics are questioning the profitability of such endeavor. But Helium has many supporters who believe that Chapter 2 will provide even greater benefits to many individuals and businesses as the project evolves. 

Algorand (ALGO)

Algoland is a leading layer 1 blockchain project that has managed to stay in the green after it went full carbon negative a while back. Check out this monthly chart:

ALGO has gone up by a total of 28% over the last week, making it one of the top gainers among altcoins. This is mostly due to two main factors.

The first is the fact that it officially partnered up with FIFA, launching their FIFA+ Collect lineup of NFTs. ⚽

The second reason is the fact that, following its final protocol addition, Algorand added State Proofs to its platforms. This allows to digitally sign messages in a more decentralized manner. 

While these things do not guarantee ALGO’s positive performance in the future, its collaborations and improvements are enough to earn the trust of many investors.

Solana (SOL) 

Commonly referred to as the Ethereum-killer, Solana’s number of transactions has surpassed the 100 billion mark by now, making it one of the most popular crypto projects around. 

Its market performance, though not as explosive as the previous coins mentioned, is still very solid, as seen from this monthly chart:

And this is not the first time Solana is boasting big transaction stats. It had previously managed to surpass Ethereum in daily transactions in the second quarter. 

This time however, we also saw its NFT volumes reaching an all-time high, surpassing the 1M mark by the end of the week from the 12th of September, and the numbers are still on the rise as we speak. 

All this success made Solana overwhelmingly popular with the crypto community, with many people foreshadowing a strong bullish trend for this crypto right now.

Chainlink (LINK) 

Throughout the month of September, LINK has been showing amazing performance compared to most other cryptos on the market. Look at the monthly chart below:

So what exactly caused such growth? 🤔

According to WhaleStats, LINK is currently hailed as one of the top 10 tokes that major ETH whales are keeping afloat right now, which gives it some protection against the market volatility.

In addition to that, Chainlink’s mentions and engagement on social media have skyrocketed recently, according to LunarCrush. 

But it’s not just hype that makes Chainlink an attractive investment right now. Just yesterday, the project announced their partnership with SWIFT, an international payment network. 

This update enables the flow of tokens across different blockchains and their distribution across all of the institutions using the SWIFT network, which includes over 11,000 banks worldwide.

No wonder everyone is talking about Chainlink. 😏

Should You Invest in October? 

The examples we gave above are some of the best performers. However, there are many altcoins showing far less activity, some are just following BTC and showing more losses than gains.

But we don’t believe there is a reason to be scared of these lows for one reason – it happens every year. And Autumn is traditionally a very volatile time for crypto.

According to this analysis by the Money magazine, over the last 5 years Bitcoin:

• dropped an average of 8.5% each September
• gained an average of 24.6% each October
• gained an average of 7.9% each November and 11.1% each December

So the point is – the markets tend to be cyclical, so the next bull market is imminent. It’s just a matter of when it will come. 😉

Conclusion 

As September is coming to a close, we are experiencing some of the most exciting crypto events of this year, not to mention the prospects of the bull market returning in the coming months. 

So we believe it’s one of the best moments to consider investing in the crypto projects that you think are worthy and promising. And we hope that the examples we gave will help you along in your crypto journey. 🙂

And if you are thinking of investing into crypto, be sure to check out Guardarian.

With us you can buy over 300 different cryptos, including the five we mentioned before, of course. And not only that, but we don’t require registration and will never charge any hidden fees!

Sounds good? Then come visit us at www.guardarian.com and as always – remember to DYOR and good luck! ✨