Which Altcoins Can Outperform Bitcoin in October 2024?

Bitcoin (BTC) dominated the headlines for many of 2024 as its worth outperformed a lot of the prime altcoins. Nonetheless, with October approaching, issues have began to alter, and the primary cryptocurrency is beginning to play second fiddle.

This shift is why buyers are eyeing a possible breakout for non-BTC cryptos as hypothesis of an altcoin season intensifies. Listed here are the three altcoins that would stand out from the gang in October 2024.

Stacks (STX)

Stacks is a Bitcoin layer-2 challenge that enhances the event of sensible contract purposes on blockchains. Its native token, STX, has seen its worth improve by 20% within the final seven days and is likely one of the altcoins that would outperform Bitcoin subsequent month.

STX is on this record as a result of, lastly, the anticipated Nakamoto improve will happen on October 9. The occasion, which is predicted to be bullish, was named after Bitcoin’s pseudonymous creator, Nakamoto Satoshi.

When applied, the improve would enhance decentralized finance (DeFi) on the Bitcoin community. Stacks may additionally introduce a Bitcoin-pegged token, sBTC, together with the mainnet improve.

Presently, STX’s worth is $1.964. On the each day chart, the altcoin’s worth dropped to $1.05 through the August 5 crash. Nonetheless, the formation of an inverse head and shoulders sample seems to have modified issues for the token.

The inverse head-and-shoulders sample is a bearish-to-bullish reversal during which consumers capitalize on sellers’ fatigue. Ultimately, this results in an upward worth motion.

As of this writing, STX faces resistance at $2. Nonetheless, the help at $1.73 reveals that it may not take lengthy for the altcoin to rebound. 

Learn Extra: 10 Different Crypto Exchanges After Bybit Exits France

As soon as that occurs, Stacks’ worth may improve by one other 20% and hit $2.38 in October 2024. On the flip aspect, the prediction may not come to move if STX bulls fail to breach the $2 resistance. If that’s the case, the altcoin’s worth may decline under $1.73. 

THORChain (RUNE)

RUNE, the native cryptocurrency of decentralized liquidity THORChain, is likely one of the altcoins predicted to outperform Bitcoin in October. One cause is the rise in RUNE’s quantity, which has been essential to its 30-day worth improve.

Whereas RUNE’s worth is $5.34, it seems to have encountered a roadblock at $5.40. Consequently, the altcoin may face a quick pullback much like what occurred in Might. Moreover, the token may replicate a rerun of the efficiency that noticed the worth bounce and climb to $7.28.

This time, the cryptocurrency may carry out higher because the picture above reveals a attainable 40% worth improve to $7.54 in October 2024. Quite the opposite,  RUNE’s worth may decline to $4.50 and invalidate this thesis if shopping for stress falters.

Fantom (FTM)

The most important rationale for Fantom’s inclusion is the joy concerning the Sonic improve. The improve is predicted to enhance translation pace and storage effectivity on the blockchain. Past that, the token, which has been one of many best-performing altcoins in current occasions, may additionally see a migration to the ticker “S.”

In response to the each day chart, FTM’s worth is $0.67, with the Exponential Shifting Common (EMA) flashing bullish indicators. As proven under, the 20 EMA (blue) has crossed over the 50 EMA (yellow). As well as, for the primary time in an extended whereas, the 20 EMA has risen above the 200 EMA (purple), indicating {that a} constant rally is within the works.

Learn Extra: 11 Cryptos To Add To Your Portfolio Earlier than Altcoin Season

Subsequently, Fantom’s worth may doubtless bounce by 36.70%, reaching $0.92. Contrarily, the worth may wrestle to hit the purpose that if the sentiment across the token turns bearish, FTM may stay range-bound at round $0.65.