Top 5 Investment-Worthy Coins in October 2022

The bear market seems to be finally coming to an end. With altcoins finally gaining momentum, it’s a good time for smart investors to go hunting and see if they can find some that will bring big returns by the end of 2022.

Unfortunately, many different cryptocurrencies are out there, making it hard to choose one when you’re first starting. Nevertheless, these are the five coins that everyone should be considering investing in.

What is BitYard?

BitYard is a crypto exchange with various products and features, including futures trading, contract trading, margin trading, and more. BitYard is a legit, safe, & user-friendly platform for cryptocurrency trading.

Many tools available to both professional and beginner traders make the whole experience enjoyable. Users can get free BYD tokens by mining on their platform too.

Before we get into the five best NFT coins to look out for, you can also stand a chance to get our premium NFT signals by signing up on BitYard using the link HERE“. To learn more, join our Telegram channel!

Bityard Exchange
BitYard Exchange

Bitcoin (BTC)

Bitcoin has declined since it hit an all-time high in December. But there are a few things to consider: Inflation and interest rates are rising, especially in the US and Europe. And crypto’s ability to escape regulation attracts people who don’t want their money under central authorities’ thumbs. If you consider these and look at Bitcoin’s performance

Investors have been buying cryptocurrencies even though monetary policy can’t directly influence them. 

They’ve favored Bitcoin since it’s the most widely-recognized digital passive investment. Bitcoin is making headlines yet again. This time because of some predictions made by experts who believe that bitcoin will surpass its all-time high and hit 100,000 due to a gradual increase in the crypto market.

The supply of Bitcoin held by long-term holders is increasing, and it has just hit the red 5 million BTC mark (circle). That level acted as a benchmark for the bottom of the BTC price in 2019. Many people who bought low during the downturn became long-term holders after 155 days. Many months of accumulating left their coins at a loss, becoming long-term holders.

Top 5 Investment-Worthy Coins In October 2022

The MM column has been falling below the 0.8 oscillators for some time now, suggesting that the next bullish reversal will be just around the corner. We can see this in March 2019, April 2020, and July 2021 (marked with black circles). After that, it looked like the market might be going up, but that was rejected at the first attempt, and it’s now on the line again.

Top 5 Investment-Worthy Coins In October 2022

In a daily timeframe, the price action of $BTC/USDT is moving below the horizontal demand zone. Suppose it breaks the swing low horizontal ray. Then we will see more blood in the market because there is a lot of liquidity below. So the market will hunt the liquidity downwards. On the other hand, if the price breaks the demand zone and retests successfully, we will see a good gain in the market.

Btc Price Chart September 2022
BTC Price Chart September 2022

Frax Share (FXS)

FXS is a governance token to take in fees, seigniorage revenue, and surplus collateral value. Before the Frax protocol stack, there were three categories of stablecoins: fiat collateralized, overcollateralized with cryptocurrency, and algorithmic with no collateral.

The project aims to create a globally interactive, functioning economic system for digital assets. Supply is not fixed once it has been issued, and the property rights are not with the issuer. They aim to have an attractive solution for Bitcoin’s “inflation” problem (where new tokens are gradually added over time).

FXS is a profitable investment option with its low-risk, high-return virtual currency. In a daily timeframe, the price action of $FXS/USDT moves between the support and resistance zone. Bounce is also expected from here. We have to wait for further PA.

Fxs Price Chart September 2022
FXS Price Chart September 2022

The Graph (GRT)

The Graph protocol’s growth has been impressive in recent weeks, as sentiment on the market has become more positive, and DeFi projects have increased their use of The Graph. So naturally, this is driving the price upward. As a result, the price of GRT has been steadily increasing over the last few days, with the most recent change being a 15% increase. Moreover, there is an indication that even more adoption and higher volumes will lead to an even greater increase in GRT’s price.

The Graph indexes data from several blockchain networks like Ethereum. As a search engine, it can help you find the specific information you need. The Graph is split into open APIs, called “subgraphs,” which are just categories of different resources. Anyone can add to the Graph so that people looking for your offer can find it.

In a four hours timeframe, the price action of $GRT/USDT consolidates inside the falling wedge. Currently, the price is moving above the horizontal support zone. First, however, we must wait for a successful breakout or breakdown to confirm its next direction.

Grt Price Chart September 2022
GRT Price Chart September 2022

COTI (COTI)

COTI is a blockchain-based payment processing platform that is available to run a variety of different types of projects, such as international payments, loyalty programs, and remittance software. COTI is an Ethereum-based company that provides business platforms with several off-the-shelf solutions.

The COTI token is designed to operate on three different mainnets in the long term. It can be used for paying transaction fees, staked for rewards, and spent on goods and services on the platform, or it can also be exchanged for bitcoin or Ethereum in the near term.

In a daily timeframe, the price action of $COTI/USDT lies above the horizontal support zone. If it breaks down the support, then it can go downwards. On the other hand, if it breaks its mid-trendline and retests successfully, we will see well gain in it.

Coti Price Chart September 2022
COTI Price Chart September 2022

Aave (AAVE)

Aave is a crypto lending protocol that eliminates the need to go through a centralized intermediary. There are no commissions, fees, or minimums; you can even use it to convert cryptocurrency into cash. Aave is a decentralized financial protocol that breaks down barriers between borrowers and lenders. While people who borrow return due amounts, lenders earn interest on the money loaned.

The $AAVE token is seeing an uptrend. Daily active addresses recently reached a yearly high. Aave is working with its GHO stablecoin to keep things running smoothly, and they are reaching new records every day in terms of active addresses, and new addresses increased by +93.42% in the last seven days.

Top 5 Investment-Worthy Coins In October 2022

In an hourly timeframe, the price action of $AAVE/USDT moves inside the ascending channel. We must wait for a successful breakout or breakdown to confirm its next direction.

Aave Price Chart September 2022
AAVE Price Chart September 2022

Closing Thoughts

Discipline and Patience are the most critical components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

Pratyaksh
Pratyaksh

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