Top Altcoins Set to Outshine Bitcoin in Oct 2024

In 2024, Bitcoin (BTC) has largely been the center of attention as it consistently outperformed most of the top altcoins. However, as October draws nearer, the landscape is shifting. The number one cryptocurrency is starting to play second fiddle, stirring excitement about which altcoins could outperform Bitcoin in October 2024.

This evolution is prompting investors to speculate on the possibility of an altcoin season. Here are three promising altcoins that may stand out and exceed Bitcoin’s performance in October 2024.

Stacks (STX)

Stacks (STX) is a Bitcoin layer-2 solution that enhances the development of smart contract applications on the Bitcoin blockchain. Recently, its native token, STX, has seen a remarkable 20% increase in value over the past week, indicating it could outperform Bitcoin next month.

This optimism around Stacks is largely fueled by the anticipated Nakamoto upgrade scheduled for October 9. Named after Bitcoin’s pseudonymous creator, Nakamoto Satoshi, this upgrade is expected to be bullish. It promises to enhance decentralized finance (DeFi) on the Bitcoin network and may also introduce a Bitcoin-pegged token known as sBTC.

Currently, STX is valued at $1.964. The altcoin experienced a dip to $1.05 during the August 5 crash, but the formation of an inverse head-and-shoulders pattern suggests a potential bullish reversal. This pattern signifies that buyers are overpowering sellers, likely leading to an upward price movement.

At this moment, STX is contending with a resistance level at $2. However, the support at $1.73 hints that a rebound could happen soon.

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If this occurs, Stacks’ price might surge by another 20%, reaching $2.38 by October 2024. Conversely, if STX bulls fail to overcome the $2 resistance, the altcoin’s value might fall below $1.73.

THORChain (RUNE)

THORChain’s native cryptocurrency, RUNE, is another strong contender predicted to outperform Bitcoin in October 2024. The key reason for this optimism is the recent rise in RUNE’s trading volume, driving its 30-day price increase.

Currently priced at $5.34, RUNE is battling resistance at $5.40. If it breaches this level, the altcoin might just replicate its past success when it bounced from a similar roadblock in May, eventually soaring to $7.28.

This time around, RUNE has the potential to perform even better, with projections suggesting a possibility of a 40% increase to $7.54 in October 2024. However, if buying pressure dwindles, its price might drop to $4.50, invalidating this optimistic outlook.

Fantom (FTM)

Fantom (FTM) makes the list due to the buzzing anticipation surrounding its Sonic upgrade. This upgrade aims to boost transaction speed and storage efficiency on its blockchain. In addition, the token could also transition its ticker symbol to “S,” contributing further to its bullish momentum.

On the daily chart, FTM’s price is $0.67, with the Exponential Moving Averages (EMA) signaling a bullish outlook. As depicted below, the 20 EMA (blue) has crossed over the 50 EMA (yellow). Moreover, it has risen above the 200 EMA (purple) for the first time in a while, suggesting an impending rally.

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Therefore, FTM is likely to see a price increase of 36.70%, potentially reaching $0.92. On the flip side, if the market sentiment around Fantom turns bearish, its price may remain range-bound around $0.65.

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