Major cryptocurrencies are currently navigating a volatile yet optimistic trading landscape, as investors eagerly seek to identify the best crypto to buy in anticipation of a significant market surge slated for the latter half of October. The backdrop of this market movement includes the imminent November election, where pro-crypto sentiments are rising due to the prevailing polling favoring Donald Trump, the Republican presidential nominee.
Electoral Influence on Cryptocurrency Trading
Former President Donald Trump is gaining considerable traction in swing state polls and betting markets ahead of the election, showcasing a notable lead over his opponent, Kamala Harris. Recent data reveals Trump holding a 57.7% chance of victory compared to Harris’s 41.9% chance, according to Polymarket.
This political momentum aligns perfectly with the typical October performance of Bitcoin (BTC) and other major cryptocurrencies, which often see notable gains during this time. Recently, Bitcoin approached $68,000 before retracting slightly to hover just under $67,000, exemplifying the bullish sentiment prevalent in the market.
Bitcoin Prospects Ahead of the November Election
The current market dynamics suggest that Bitcoin could continue on its upward trajectory, potentially returning to all-time highs as the election draws nearer. This scenario positions Bitcoin as a compelling option for investors looking for the best crypto to buy now. For those with a higher risk appetite, alternative cryptocurrencies with significant potential upside might also be appealing.
Exploring Altcoin Opportunities
Investors searching for high-reward opportunities should consider several promising altcoins that are currently gaining attention:
1. Cat in a Dogs World (MEW)
One of the notable gainers recently is the playful meme coin, Cat in a Dogs World (MEW). According to CoinMarketCap, MEW has experienced a remarkable surge of 16% in the past 24 hours, nearing a resistance barrier at $0.0090. With consistently higher lows observed in recent months, technical indicators suggest that an upside breakout may be imminent. Currently valued with a market cap just shy of $800 million, MEW has the potential to become the next billion-dollar meme coin, making it a strong candidate for serious consideration.
2. Hedera (HBAR)
Hedera (HBAR), known for its focus on decentralized applications, is another cryptocurrency showing robust momentum. Trading around $0.056 after a 6% increase on the day, HBAR has recently regained its position above its 50-day moving average. A breakout from its current range could lead to a swift rally back to previous highs of around $0.018, marking it as a promising asset in the current market.
3. Fantom (FTM)
Fantom (FTM), an innovative layer-1 blockchain protocol, is also making waves, with a daily increase of 7% bringing it to its highest price since June, approximately $0.80. Known for its high volatility, FTM could rapidly ascend back to yearly highs over $1.20 if the anticipated crypto bull run materializes. This capability makes Fantom a worthy contender on the list of potential investments.
Considering Higher-Risk Investments
For investors ready to explore beyond established cryptocurrencies, participating in crypto presales could reveal opportunities for extraordinary returns, with some presales offering potential increases of 20-50 times the initial investment. However, investing in presales carries inherent risks that must be carefully evaluated, particularly regarding the project team’s efficacy and market traction.
For interested investors, consulting resources like Cryptonews.com’s list of top presales for October can provide valuable insights into emerging opportunities in the cryptocurrency space.