The much-awaited ‘Uptober’ bull run may be about to start with the Bitcoin price reclaiming the $35,000 in the last week of October.
Shrewd investors are buying the dip to get the most favorable entries into promising projects. Here is a list of five three cryptocurrencies that have substantial potential for growth this month.
1. Bitcoin (BTC)
Bitcoin remains a solid investment choice this bull cycle, as always. The world’s largest cryptocurrency has more room for growth according to industry analysts. Although it has been trading below $30,000 for quite some now, the trend could reverse any day now.
If you’re looking for the best ‘buy-the-dip’ crypto, it doesn’t get better than Bitcoin.
One of the key factors that is working behind the next bull cycle as well as the BTC price surge is the much-awaited Bitcoin halving event. It is expected to be a game-changer that could put the market on a new trajectory.
Bitcoin 1-month price action, CoinMarketCap
This event could propel the token anywhere from $40,000 to $100,000 depending on the social momentum. Although the hype around the event is low now, things are expected to rapidly change soon. For a substantial increase, the series of bullish runs should begin in a few weeks as we’re closing in on the end of the year.
Analysts forecasted that Bitcoin will surpass the $30,000 mark in October – and were correct on that – and that BTC could reach as high as $50,000 by the end of December.
2. Ethereum (ETH)
The next cryptocurrency that will make an excellent investment now is Ethereum, of course. The token hasn’t failed to follow in the footsteps of Bitcoin whenever the chance arrives. This time wouldn’t be any different.
Ethereum 1-year price action, CoinMarketCap
Ethereum has the potential to surge up to $2000 in the coming weeks and past $3500 by the first half of 2024. Still the world’s most preferred blockchain, Ethereum is home to a number of robust Web3 ecosystems.
3. Chimpzee (CHMPZ)
Chimpzee is the next cryptocurrency that will make a good investment this month. The wildlife conservation token has high growth potential, thanks to the growing tribe of eco-conscious users and investors that are joining the project.
Chimpzee uses the massive appeal of meme coins to create interest in sustainability and climate action, particularly among Gen Zs and millennials. Instead of following a dogmatic approach that primarily focuses on raising awareness and waiting for participants to join the cause over time, Chimpzee takes a more proactive stance with a crypto reward system at its heart.
Although raising awareness remains an integral part of the Chimpzee system, the project thinks beyond education and awareness campaigns. For starters, it brings together people from across the globe, offering an attractive source of passive income in exchange for their involvement.
Facilitated by blockchain technology, the project carries out all its transactions through the Chimpzee smart contract – visible and verifiable by anyone. The high level of transparency alleviates any concerns or doubts that investors and users may have when supporting its social and environmental causes.
Chimpzee is going to help save animals that have been left behind or forgotten in worn torn Ukraine. Our donation will help neuter hundreds of cats and dogs, abandoned during war in Ukraine.— Official Chimpzee Project (@RealChimpzee) October 19, 2023
WE ARE NOW LESS THAN 15K AWAY FROM HELPING THESE FORGOTTEN ANIMALS! 🐶🐱
Take advantage… pic.twitter.com/bOQi3Vuz7O
The history of scams and manipulations in the charity space makes it an unsafe space to navigate. But the integration of blockchain technology empowers Chimpzee to uphold the highest standards of security and credibility.
When investing in CHMPZ tokens, participants are engaging with Chimpzee platforms and earning a substantial passive income in return. It is home to a play-to-earn, shop-to-earn and trade-to-earn platforms.
The token is still in the presale stage, which gives it higher room for growth than the other cryptocurrencies listed here. Investors can buy Chimpzee tokens for heavy discounts and 4X bonus in the 14th stage of the presale.
4. Cardano (ADA)
Cardano is one of the worst performers of 2023 in the crypto market. The blockchain asset has lost 32.23% of its value since this time last year and still continues on a downward trajectory.
But not for long.
According to analysts, ADA will make use of the upcoming bull cycle to reverse the losses it made over the last few months. It has the potential to give returns ranging from 50% to 80% in a month.
Cardano 1-year price action, CoinMarketCap
Although Cardano was relatively late to the blockchain market, it is one of the first blockchains to make use of proof-of-stake validation. The mechanism gives the project a strong competitive edge in terms of transaction processing times, energy consumption, and environmental impact.
It makes this possible by eliminating the competitive, energy-intensive transaction verification process that is implemented in platforms like Bitcoin. Cardano’s smart contracts and decentralized applications are expanding, powered by its native coin ADA. But the price action of the coin has yet to reflect the ecosystem development.
5. Solana (SOL)
We wrap up this list with Solana, another excellent blockchain cryptocurrency that has a strong price correction to the upside due.
Despite the FTX collapse, the coin is bound to reverse its trajectory following in the footsteps of others during the next bull run, and has already reclaimed the $30 level as of the last week of October.