Three bullish altcoins expected to outperform bitcoin in October 2024
Stacks (STX) could rise 20% to $2.38 in October 2024 thanks to Nakamoto's upgrade.
THORChain (RUNE) could rise 40% to $7.54 thanks to increased trading volume and strong buying pressure.
Phantom (FTM) could rise 36.7% to $0.92 by the end of October thanks to a sound update.
#Bitcoin (BTC) dominated headlines for most of 2024 as its price outperformed most major #altcoins . However, as October approaches, things are starting to change and the number one cryptocurrency is starting to play second fiddle.
This has caused investors to turn their attention to the potential breakout of cryptocurrencies other than BTC as speculation about altcoin season intensifies. Here are three altcoins that could potentially stand out from the crowd in October 2024.
Stacks is a second-tier bitcoin project that facilitates the development of smart contract applications on the blockchain. Its native token, #STX , has risen in value by 20% over the past seven days and is one of the altcoins that could surpass bitcoin next month.
STX made the list because Nakamoto's long-awaited update will finally take place on October 9. The event, which is expected to be bullish, is named after Satoshi Nakamoto, the creator of bitcoin.
the update, once implemented, will improve decentralized finance (DeFi) on the Bitcoin network. Along with the network update, Stacks may release sBTC tokens tied to Bitcoin.
The current price of STX is $1,964. On the daily chart, the price of the altcoin fell to $1.05 during the collapse on August 5. However, the formation of the "head and shoulders" reversal pattern seems to have changed the situation for the token.
STX is currently facing resistance at $2, but support at $ 1.
The price of #RUNE is at $ 5.
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