Best Crypto to Buy Now October 2 – THORChain, BitcoinSV, Polygon
Fueled by renewed optimism, Bitcoin briefly rallied back above $28,000 on Monday for the first time since August.
But the largest cryptocurrency has since pared those gains, dipping to $27,758 as of writing, down 0.85% so far today.
While Bitcoin saw an approximate 6% spike over the past 48 hours, peaking around $28,597, it has been unable to sustain the upward push.
With Bitcoin still looking bullish to start in October, what is the best crypto to buy now?
After the U.S. Congress delayed a potential government shutdown to mid-November, Bitcoin's price started to increase substantially, seeing its biggest positive price change since the end of August.
The latest Bitcoin price rally also started on the first day of October, which is historically one of the most bullish months for the cryptocurrency.
October is often referred to as "Uptober," with Bitcoin's price rising an average of 20.82% in the month since 2012. The only exceptions were October 2014 and 2018.
While Bitcoin briefly trading above $28,000 is a positive sign, the current rally risks exhaustion in the near term according to technical analysis.
Bitcoin's RSI may hit overbought territory above 70 this week. This could signal a period of pullback or consolidation following the rapid gains.
Upside potential remains for Bitcoin to test $30,000, especially if it holds strength above $28,000 in the following days.
Meanwhile, bears will try to sink the price back below the 200-week EMA near 25,736. Failing to hold that long-term support could open the door for a drop toward its previous support zone at around $24,000.
As the new trading month unfolds, THORChain, Meme Kombat, Bitcoin SV, TG.Casino, and Polygon are making a compelling case for being the best crypto to buy now,
Read more on cryptonews.com
