2024

Bitcoin

Looking at metrics, October 2024 is shaping up to be an exciting month for crypto enthusiasts. But before discussing certain coins that are showing promising signs of growth in October (Uptober), let us review how September went. 
Dubbed as ‘Slumptember,’ crypto assets have historically recorded losses in September. 
However, this September ended with the best performance, as noted by analyst Rekt Capital yesterday. He <a href="https://x.com/rektcapital/status/1840777339711398218?s=46&amp;t=jqcaUeCNyLKSkEd-Vi7PKg" target="_blank">reported</a> that BTC increased by 7.75% in September, beating its previous record of 6% in 2016. Also, eight of the previous 12 September have resulted in losses for the flagship asset, with 2014 being the greatest at 19%. 
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The uplifting news is that October has been historically bullish, with nine out of the past 11 months posting positive performances for the BTC. In fact, the past five consecutive years have seen gains ranging from 5.5% to 40% within the month and that includes even bear market years. Only 2018 and 2014 saw losses in October for BTC. 
Now that analyses are indicating that we will have a bullish October, below are 3 cryptocurrencies you can take advantage of for future returns. 
<h4 id="binance-coin-bnb" class="wp-block-heading">Binance Coin (BNB)</h4> 
Last weekend, Binance founder and arguably the most influential figure in the crypto industry, Changpeng Zhao CZ was released from US custody after four months of detention. BNB, the native token of Binance, surged to $614 on the day marking a 25.7% gain over three weeks.&nbsp; 
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This is the first time BNB has closed above this level since June 2024, sparking speculation that the bullish momentum could extend further in October. According to a <a href="https://apple.news/A9n5abWm5T-OXViQjelZLXA" target="_blank" rel="noopener">report</a> by Forbes, CZ holds 64% of BNB total supply. 
CZ’s legal issues have attracted attention and are likely related to BNB’s recent price action. The media coverage tied to CZ’s reputation and influence in the crypto community, and the hype surrounding CZ’s release is expected to spur BNB to reclaim its all-time high of $724 in October. 
<h4 id="the-open-network-ton" class="wp-block-heading">The Open Network (TON)</h4> 
Telegram’s TON ecosystem has enjoyed massive growth in 2024, with activities related to the rapid adoption of Telegram Mini Apps like Notcoin, Dogs and Hamster Kombat. In July 2024, the total value locked (TVL) in various TON projects peaked at $776.6 million, posting an enormous surge of more than 5,300%.&nbsp; 
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Toncoin, the native cryptocurrency of the TON blockchain, is expected to rise in tandem with this massive hype and adoption. Even despite the sharp drop recorded during the arrest of Telegram CEO Pavel Durov in August, Toncoin has still posted at least 140% in returns since the beginning of 2024. 
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The TON blockchain is expected to house more launches of memecoins in October, with Blum, TapSwap, Yescoin and others among the list of Tap-to-earn enthusiasts. 
With October billed to be a bullish month, the TON ecosystem is expected to attract increased institutional support and this will positively impact its native token market value. 
<h4 id="bitcoin-btc" class="wp-block-heading">Bitcoin (BTC)</h4> 
Lastly, the flagship digital asset Bitcoin is showing signs of a potential rally in October.&nbsp; 
Firstly, the spike in demand for Bitcoin Spot ETF is a marker of a potential rally above $70,000. On September 26, the Bitcoin Spot ETF inflows amounted to $366 million, representing its single-day highest since July 23. 
According to SosoValue, on that day, three major ETF providers — BlackRock, Fidelity, and Ark — recorded inflows of $118 million, $73 million, and $133 million, respectively, highlighting strong demand from US traditional investors. 
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Additionally, data says US-based retail and institutional investors have recently increased their BTC accumulation. In a recent <a href="https://x.com/jjcmoreno/status/1839499395114439135" target="_blank">post</a> on X, Julio Moreno, Head of Research at CryptoQuant, noted that increased BTC demand in the US pushed the coin’s price toward $65,000. 
If the sentiments remain bullish and demand for Bitcoin continues to rise, its price is likely to chart a course toward trading above $70,000 in October. It would be nice to scoop some profits off the largest crypto by market capitalisation. 
This content is for informational purposes only and should not be construed as investment, tax or legal advice. It is strongly recommended that every recipient seek appropriate independent professional advice before acting on any information contained herein, as Technext provides no endorsement, opinion or advice, including investment, tax or legal, and makes no representation or warranty about the suitability of a product for a particular reader or circumstance.
The post <a href="https://technext24.com/2024/10/01/bitcoin-cryptocurrencies-buy-october/">Bitcoin may hit $73,000? Here are cryptocurrencies to buy in October&nbsp;</a> first appeared on <a href="https://technext24.com">Technext</a>.

Bitcoin may hit $73,000? Here are cryptocurrencies to buy in October

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