“Uptober” is here, but geopolitical angst with Israel and Iran potentially on the verge of a major war has crypto markets trading on the defensive, and investors are assessing what might be the best crypto to buy now to benefit from a potential market rebound.
Bitcoin (BTC) dropped to test $62,000 after reports broke of an Iranian missile attack against Israel.
That could spark an all-out war between the two nations, potentially drawing other major powers like the USA and Russia, and disrupting oil flows in the Gulf Strait.
𝐍𝐨 𝐭𝐡𝐢𝐬 𝐢𝐬𝐧’𝐭 𝐚 𝐬𝐜𝐢𝐞𝐧𝐜𝐞 𝐟𝐢𝐜𝐭𝐢𝐨𝐧 𝐦𝐨𝐯𝐢𝐞.
This is Israel right now.
RT this so the entire world knows. pic.twitter.com/ok8CxCXxnP— Israel ישראל (@Israel) October 1, 2024
According to CoinMarketCap, most other major altcoins traded with losses of 2-5% in the past 24 hours.
A full-blown war between Israel and Iran could mean a shakey start to October for major cryptocurrencies.
But this could be a buying opportunity – previous geopolitics-related market dips earlier in the year didn’t last long.
And October is typically the best month of the year for Bitcoin, hence its nickname “uptober.”
First day of Uptober pic.twitter.com/kIEgbDediI
— naiive (@naiivememe) October 1, 2024
Many had been anticipating that against the backdrop of a Fed-led global monetary policy easing cycle, this October would be no different.
Geopolitics could lead to one final shake-out in the Bitcoin market before the prices march towards new record highs this quarter.
Traders anticipating a market rebound are thus scouring altcoin markets for the best crypto to buy now.
Here are some strong options.
Best Crypto to Buy Now – Which Are They?
Popcat (POPCAT)
Solana meme coin Popcat (POPCAT) performed well on Tuesday despite the market’s broader angst.
POPCAT continues to trade close to $1, just below its record highs last week.
POPCAT could well dip further as geopolitical fears grow and risk-off flows accelerate.
But POPCAT could be on the cusp of a major breakout later this month as risk appetite recovers.
POPCAT has been probing for a breakout above its July highs for days now after consistently posting lower lows since April.
That suggests the coming breakout could have serious pop, making Popcat a candidate for the best crypto to buy now.
For a longer-term price prediction, check out this article from Cryptonews.com.
NEIRO (NEIRO)
Neiro (NEIRO), a community-focused Ethereum meme coin based on Doge’s little sister, is another candidate for the best crypto to buy now.
NEIRO has last subsided back to a market cap of around $60 million, per DEXScreener, an 80% decline from its August highs.
However, analysts at Cryptonews.com are bullish on NEIRO and its prospects to advance in the coming months, per a recent price prediction analysis.
EigenLayer (EIGEN)
Elsewhere, the newly launched token of Ethereum restaking protocol, EigenLayer, has enjoyed an explosive launch.
The EIGEN token is now available on Binance.https://t.co/yC3qQPcLWm
— Eigen Foundation (@eigenfoundation) October 1, 2024
According to CoinMarketCap, the token has rallied 10% since its launch to $4.09, bringing its market cap to $760 million.
The new crypto’s fully diluted market cap is close to $7 billion, meaning there will be a lot of inflation for EIGEN.
However, the protocol is likely to continue gaining traction in the coming years and could potentially gain as much as 3 to 5x.
Thus, it might rank as the best crypto to buy now. However, it is possible to book substantially larger gains if traders invest in smaller, lesser-known coins before they start to trend.
A good way to do this is to get involved in crypto presales. Presales give investors an opportunity to access a new project’s native token at a discounted price or favorable valuation before it launches.
Analysts at Cryptonews.com monitor the presale market closely. Here are some of their top picks for this October.
16 Best Crypto Presales to Invest In Now
The post Best Crypto to Buy Now October 1 – Popcat, NEIRO, EigenLayer appeared first on Cryptonews.