Many keen eyes are on Bitcoin after it broke above the $70,000 mark again. The noise about “Uptober,” describing Bitcoin’s tendency to close in the green every October, did not fail.
Now, with Bitcoin at a critical point again and many expecting an all-time high soon, we could see various altcoins follow the same trajectory.
After scanning through various altcoins, the following three stand out and could be worth considering for potential accumulation before the anticipated November price explosions:
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What you'll learn 👉
SUI
SUI has had some impressive rallies this year, often leading the pack when altcoins start to spike. Between January and March, while many other cryptocurrencies were spiking, SUI saw a close to 200% price increase.
It also experienced a more than 400% spike between August and mid-October as its solutions gained market attention.
With many altcoins expected to see major spikes again, it won’t be a surprise to see SUI lead the rally, achieving higher spikes than many other altcoins. Various analysts also have high hopes for the crypto due to its speed and scalability, suggesting it could be the next Solana.
SUI offers more transaction speed compared to Solana. In early October, it had greater transaction volume than Solana, and the fact that it has a much lower market cap has led some analysts to suggest that buying SUI now could be like buying Solana in 2021.
EnqAI
The artificial intelligence program provides uncensored and unbiased AI models that are useful in various applications. The platform employs multiple models to ensure that its AIs are manipulation- and censorship-proof, and it is already seeing use cases in creative industries for generating images, audio, and various content, as well as data analysis. It is also getting integrated into other projects.
On the technical analysis level, ENQAI price enjoyed a strong end to September, spiking by more than 600% from mid-September to the end of the month. The price began in October with a period of retracement until it hit a strong support level a few days ago and started to recover.
This recovery coincides with Bitcoin’s price recovery, suggesting that the EnqAI bulls might be gearing up for a bullish run.
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Show more +Maker (MKR)
The governance token of the MakerDAO and Maker Protocol, MKR, is also a key token to watch. The token saw a close to 200% rally at the beginning of the year when Bitcoin was also on the rise.
After that, it struggled as Bitcoin’s price consolidated and declined. With Bitcoin’s recovery in the last few days, MKR has also shown a number of green candlesticks, with its price increasing by more than 30% in the last seven days, leaving room for more growth.
Given its strong correlation with BTC’s direction, investors might see it as a good option to diversify into when BTC finally breaks into a new all-time high.
A top analyst, World of Charts, noted earlier today that MKR’s price is breaking out, and we could see a spike toward $2,000 in the next few days if this breakout is successful.
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