We are looking at the top cryptocurrencies to own in October. This will be an interesting month because historically, cryptocurrencies have done very well in October through December.
We can see September is actually very red, and we have seen about 15 dips here in September so far, but the end of the year should be bullish. So we’re going to look at some of the top cryptocurrencies to own.
I want to cover some news first, some really cool news, some important news and then we’re going to take a look at five of the top cryptocurrencies now with that being said
Bitcoin fear and greed index is at 24. I think this is important to take a look at because we have to remember we have to zoom out sometimes we’re in extreme fear looking at the historical fear and greed index over the last three months we can see sure we dipped to 21 here.
I think this is important to take a look at because we have to remember we have to zoom out sometimes we’re in extreme fear. Looking at the historical fear and greed index over the last three months, we can see sure we dipped to 21 here.
But besides that, this is the most fearful the market’s been back since July 25.
So July 25 and 26, we were at a much lower price. I mean, take a look, we’re at thirty-four thousand dollars and people were this fearful. so we are back at thirty-four thousand. This is the new bottom. This is a new fear of forty-two thousand. It’s amazing to take a look at because the bar just gets set higher and higher, and people will be scared at 50 000 here in a couple months or in a month, and people will be scared at 75 000 after we broke all-time highs and then come back down to 75 000.
People will always be scared when we see a slight dip a 20 dip when they bought at the top, but the bar keeps on being raised, and that’s what’s been happening over the past couple of years; with that being said, we did get kind of an interesting little piece of news here kind of some speculation here. First, Coinbase deleted a Tweet and fueled speculations about a Bitcoin ETF.
So they tweeted this coinbase report expects growth in crypto funds and SEC approved ETF soon now this looks like it’s from their main coinbase team here or their main Twitter account. Interestingly, they’re apparently any likes and retweets, and it was supposedly out for 13 minutes.
I don’t know exactly what happened. Maybe someone clicked on it right away, and then it they waited 13 minutes, and these didn’t update, but the minutes did. I don’t know because it seems like that would have exploded as soon as it was announced but they did take it down.
So what’s interesting about this is we know that if the sec approves an ETF soon, the market will explode we also know that there’s been someone else recently a Bloomberg analyst a commodity analyst that said he believes that lawmakers in the US will not want to miss out much longer when asked about a time frame on a potential US Bitcoin ETF.
He said it could happen potentially by the end of October, so does Coinbase? So does Bloomberg know something we don’t, or is this some kind of conspiracy? I’m not sure but we haven’t really gotten I don’t believe we’ve gotten a lot of these like hints and expectations in the past where they were so soon where people were saying a couple weeks out from now.
We’re expecting an etf something that is very obvious though he did say that the us feels like they don’t want to miss out much longer and politicians are in on this politicians don’t want to miss out. A mayor wants to give a thousand dollars of Bitcoin to every resident, so cool valley, Missouri a small town of about 1500, is getting national attention because the mayor wants to give everyone up to a thousand dollars in Bitcoin. This is actually made news about a month ago, and now it just seems like it’s being pushed out again by the mayor. His name is Jaelin Collier, and he has been trying to create change through green initiatives in the past. I believe here they talk about how he was picking up water bottles out of the oceans and stuff until he was part of their city government. Still, he says that he’s been in Bitcoin since 2015 saying they worked for wealthy clients in the past at a Tech startup and one of the coolest things they did was they allowed clients to pay in BTC back in 2015. So he’s been in on this for a while now. I’m just giving you all this information because this is big news for the whole industry obviously if Bitcoin goes up, the other cryptocurrencies will go up too.
They’ll probably trail a few people who will profit from Bitcoin and think, okay, all these other cryptos will pump up here soon. So let’s take a look at five of the top cryptos to watch and maybe five of the top cryptos to own here throughout the rest of the year. Now, of course, this isn’t financial advice I can’t give financial advice, and also, I’m not going to be able to cover a lot of the cryptos that you might want to see, but these are five cryptos that I’m investing in that. I feel strongly about that. I think it can do well throughout the end of the year; with that being said, Cardano is not on this list, but I think it could get an honourable mention with their ecosystem being built out but let’s take a look.
So first of all, I think we have to include Bitcoin, right? We’ve seen a 20 correction, and I guess that’s technically a crash but we’ve seen a 20 drop in Bitcoin, and obviously, if an ETF is approved, there’s going to be a lot of money flowing into Bitcoin, whether it is from wealthy clients whether it’s from large institutions, there’s going to be a lot of people that want to buy into Bitcoin that will be very happy to add that to their portfolio, and that will be like the risky asset for them so for traditional people that don’t know much about cryptocurrencies Bitcoin seems very scary right it could fall 50 in a year or something like that. But I think many people will flow into Bitcoin first and a lot of people just don’t want to learn about a lot of the other cryptocurrencies. So I think Bitcoin’s one that you have to pay attention to obviously it’s the market leader from there.
I know this might sound a bit boring, but Ethereum is one that we have to look at. Ethereum 2.0 moves are closer to fruition as the devs set Altair to upgrade for October.
So one of their next updates is going to go live, and it’s scheduled to take place in October Ethereum 2.0 is on the way we already saw EIP-1559 actually make it deflationary over certain periods. So I think Ethereum 2.0 will get a lot of hype there is a lot of money flowing from big institutions into Ethereum i’ve talked to a lot of people in the industry. While there is Cardano out there, they are much more bullish on Ethereum because there’s actually an ecosystem that’s already built out.
So we have to pay attention to Ethereum. One other one that I guess we could add to the list is Solana. It’s similar to Ethereum and Cardano. I didn’t include it in the list, but that’s one that I like too; then we have Polkadot, it is going to have their Parachain auctions sometimes here in the future, so their parachain auctions will come, and that’s going to be huge for the whole ecosystem. We know that Kusama. The Kusama parachain auctions have pushed up the price of Kusama.
It’s pushed up the price of a lot of the cryptocurrencies in the ecosystem, and people are literally getting 100 x’s on some of their investments.
We have VeChain. VeChain is one that.
I think people have to pay attention to it’s still down about 66% from its highs. So it has come up a little bit from its lows back in July it’s come up a significant amount. I suppose about 50 but still down 66% basically one-third of where it was at the peak here. If we get a lot of money flowing into crypto, I’ve got to believe that this will be one of the better assets to hold the market caps only 5.4 billion, which sounds like a lot, but this is one of the most blue-chip cryptocurrencies out there. I realized too some people are like it’s not small enough, it’s still you know, it’s still one of the larger cryptocurrencies but you have to realize that this is going to be here to stay. They’ve been around for a while; they have huge partnerships, for example, they’re with one of the top four accounting firms in the World. They’ve created partnerships there. They have a real-world use case, they have a great list of companies they work with, and it’s one of the most blue-chip cryptocurrencies out there.
I think it’s going to be one that will probably explode over the next five or ten years when you think it’s a five billion dollar market cap. I could definitely see this at a hundred billion if Bitcoin goes up to, you know, two hundred and fifty thousand five hundred thousand. This could easily be 20x over the next five years and that is I realize that. That’s a big amount, that is a large amount to say that’s going to increase but we have to realize that’s still only 100 billion dollar market cap. You’ll also get some staking if you’re buying it on the right platform, and you’ll be getting about 2% interest so that is one that I think you have to pay attention to and then the last one on this list is Voyager. I realize that not everyone is interested in this this is the smallest cap by far but their ecosystem that the voyager app I should say is growing the number of people that are using Voyager is growing so their public company their company that I own stock in and I own their own token if people start making a lot of money in crypto on Bitcoin, Ethereum, Cardano they’re going to want to get as high an interest rate as possible Voyager pays a good amount of interest they pay interest rates up to 12 on some of their cryptos they’re 60 cryptos on their platform and once people start making a lot of money they’re going to want to increase their interest rate so with voyager token you can actually get a boost on your interest rates up to one and a half percent so if Voyager is two dollars and someone has three hundred thousand dollars worth of Bitcoin it makes sense to buy five thousand voyager tokens which would be about ten thousand dollars to get another one and a half percent interest rate on your Bitcoin and the thing is there’s only so many of these tokens out there. It will be inflationary, but there’s not enough to go around, and not only are people going to want it more. Because it becomes way more valuable when you have higher prices for cryptocurrencies, but more people are joining the app all the time. They have 800 000 funded accounts right now, and this is up from around 40 000 at the beginning of the year. So they’re going to pass a million here probably towards the end of the year early next year a funded account on their platform. Then they’re just going to keep on growing. They’re going to grow faster than the number of tokens out there, so you have to realize that this will become scarce.
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