The crypto market in October 2024 is showing signs of recovery and bullish potential, with Bitcoin holding on to a positive momentum typical of the fourth quarter. Historically, this period has often seen bullish momentum, and current analysis suggests that BTC could climb further, supported by institutional demand and macroeconomic factors such as looser monetary policies.
Altcoins like Wormhole (W), Conflux (CFX), and Sui are also attracting attention. Wormhole, for example, stands out thanks to its cross-chain capabilities, and its recent 25% growth in one day is a testament to its potential. Additionally, Conflux and Sui, both next-generation blockchains, are seeing increased adoption, which could translate into attractive future gains for intermediate investors looking for diversification.
Tip for Intermediaries: Keep an eye on resistance and support levels. For example, if Bitcoin manages to break through a key resistance, it could mark a move towards a new yearly high. The above-mentioned altcoins, with their innovative technologies, could also offer short- and medium-term opportunities for traders.
Stay vigilant and always do your research before making an investment decision. #DYOR
