Everyone loves a good crypto price prediction. While it is true that most predictions are based on speculation, it is also true that most predictions, however absurd, always have some degree of truth to them.
In this article, we will be going over some of the most interesting crypto predictions for several cryptocurrencies for October.
Here are some of the best crypto predictions for October, sourced from charts all over the internet.
This subtopic isn't exactly accurate, but take a look at this:
The chart above shows the monthly returns for Bitcoin since 2013.
In other words, it shows how much Bitcoin gains (or loses) every month.
As illustrated, Bitcoin has only had two bad Octobers since 2013, with a 13% price decline in 2014 and a measly 3.8% decline in 2018.
In essence, Bitcoin, more often than not, rallied by double-digit percentages in Octobers. And if that hasn't sunk in yet, we're only a few days in, and the cryptocurrency is already 2.3% in profit.
There's a reason Octobers are nicknamed "Up-tobers".
Take a look at this chart:
How long can the bears continue to hold out against the bulls?
Ethereum is by far one of the strongest cryptocurrencies on the market, in terms of how bullish it remains, despite uncertainty.
The cryptocurrency is heading for a retest of this ascending trendline, and may finally be ready to enter a rebound and rally massively.
CrediBULL crypto, a popular analyst on Twitter, also supports this prediction with a similar chart in this tweet.
According to the analyst, Ethereum is about to become a "fantastic buy".
It is normal for ETH to decline for a while in October. But ultimately, a massive price increase is on the way for the cryptocurrency.
The Cardano network boasts a TVL of more than 600 million ADA as of the time of writing, after rising massively all through the year.
More importantly, the price movement of Cardano (ADA) has been constantly watched by Captain Faibik, a reputable crypto expert for a while now.
According to this tweet from the analyst, Q4 Is expected to be wonderful for Cardano, because the cryptocurrency is about to break out as shown below.
When this breakout happens, Captain Faibik expects the ADA price to rally straight up to a target range of $1.1 to $1.25.
"Looks Pretty Solid for the Q4 Hold," the analyst says.
Dark Defender, a popular cryptocurrency analyst, believes that Ripple's native token (XRP) has the potential to hit its all-time high (ATH) of $5.85 soon.
According to this tweet, Dark Defender noted that XRP closed last month with a "doji," (which is a candlestick pattern that suggests indecision between buyers and sellers).
However, the analyst believes that this positive development could lead to a breakout to the upside in the coming days.
According to Dark Defender, XRP has already broken through its initial resistance at $0.66 and is now poised to surge to its second resistance level of $0.91.
If XRP can break through this level, the analyst believes that it could continue to climb towards its ATH of $5.85.
Polkadot's price action has been disappointing ever since March this year.
The cryptocurrency started 2023 on a high note, after an initial slump to $4.2 in 2022.
As illustrated below, by 19 February, Polkadot was one of the best-performing cryptocurrencies on the market and was trading at $8 in an 87% price rally.
However, this was when the cryptocurrency's woes began.
By mid-June, Polkadot had erased all its gains and was back at $4.2. And as it turns out, Polkadot has broken below this support and is facing a serious drop further down.
However, we can draw a descending trendline on DOT and see that the cryptocurrency is holding out above the $4 psychological resistance, and has been testing the upper trendline of this formation repeatedly since July.
This trendline is bound to have become weakened at this point, and we may soon see a breakout to the upside on the cryptocurrency, as it tries to reclaim $8.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.