If you’ve been in crypto for a while, you are aware that cryptocurrencies tend to go up and down in price drastically in a short period of time. In such an environment, there are lots of opportunities to grab low-priced coins. I hereby present you a list of the top 3 cryptocurrencies to buy in October 2021:
1. Chainlink
Chainlink is a decentralized network built on Ethereum. Its main function is to provide oracles, which is a necessity for today’s crypto community. Oracles are programs that connect real-world data to blockchains. They are a necessity for smart contracts to understand data and work based on it.
Chainlink recently announced a partnership with one of the biggest cryptocurrencies – Cardano. They will work together on building smart contracts in the DeFi sector. That opens Chainlink to even higher market penetration in the DeFi sector and can potentially influence its price. Chainlink should be on your watchlist in weeks to come.
2. Cardano
Cardano is the third biggest cryptocurrency with a market cap of around $70 billion at the moment. It is a blockchain network that uses a proof of stake consensus mechanism. On the 12th of September, Cardano’s network had a major upgrade called Alonzo hard fork. Alonzo brought smart contracts to Cardano’s network and opened it towards new possibilities. Many analysts predicted that Cardano’s price will skyrocket following Alonzo hard fork, but that didn’t happen. In the crypto world, adoption is a key trigger of growth, and real use cases eventually drive prices up. We are yet to see huge use cases of smart contracts on Cardano’s network. Mentioned partnership with Chainlink will surely boost the functionality and potentially lead to institutional adoption. October might be a little early for all that to happen, but things in the crypto world happen fast and one should always be prepared.
3. Bitcoin
Bitcoin needs no special introduction. It’s the biggest and most known cryptocurrency out there. Bitcoin has proven itself many times. No wonder it is a major holding for the biggest crypto investors.
Bitcoin’s adoption grows day by day and there is always a reason to put it on the buying list. However, this month’s reason is mainly because of insanely precise predictions by some well-known Bitcoin predictors. One analyst that has proven himself in the past is PlanB. He was right about the recent Bitcoin price movement and he targets Bitcoin at $135k by the end of the year.
Another well-known person in the crypto space, Anthony Pompliano, believes that “we will see Bitcoin’s price at $100,000 by December 2021”.
But be aware, even though they were precise the last few times, it’s no guarantee they will continue to be right in the future. Past performance is no guarantee of future results, despite being one of the best indicators there is. Always do your own research before making any investment decision.