October has historically been an excellent month for reversals. Could the run up to the US midterm elections be an incredible month as the macro bottom is fast approaching? Technical analysis suggests this will be the case as Bitcoin is consolidating in an extremely tight range and the DXY (US Dollar Currency Index) is forming a double top after twice failing to make a new ATH (all-time high ) to build.
With the negative correlation between these assets, as the dollar weakens, bitcoin will strengthen. This positive price action will feed into the altcoins, and Uniglo (GLO), Cronos (CRO), and Stellar (XLM) are expected to post fantastic gains throughout October.
uniglo is a social currency coming to the Ethereum network. In times of rampant inflation, Uniglo returns to the basic economic principles of value retention and scarcity. The protocol uses a revolutionary Ultra Burn mechanic that burns 2% of each transaction, making GLO hyper-deflationary. This is made possible by taxes on purchases and sales, with the remainder of the tax going towards wealth acquisition. The Uniglo Vault hosts a wide range of digital and physical assets that give GLO an intrinsic floor price.
GLO has been structured to preserve wealth while speculating on growth to provide investors with a store of value that maintains the actual purchasing power of their wealth. Asset ownership has long been the best way to conserve wealth and GLO represents a diversified portfolio in a single token.
CRO is a sleeping giant of the crypto ecosystem, having retraced more than 85% since its ATH, and its current price represents a fantastic entry point. Many analysts compare CRO to BNB, and the similarities are striking: both are utility tokens of large centralized ones Exchanges and native tokens of sovereign blockchains.
As Crypto.com continues to attract a growing user base, CRO will appreciate this as owning the token gives investors access to a variety of perks offered by the exchange. It is a great entry point into the crypto ecosystem and has done a great job of driving blockchain adoption.
Stellar creates financial access for everyone. Cross-border payments were estimated at $156 trillion in 2022, but shipping value internationally remains a slow, expensive and cumbersome process. The Stellar Network was launched in 2014 and made it possible to move capital anywhere in the world in minutes at a nominal cost.
Stellar is a decentralized network built to complement, rather than challenge, TradFi. With rumors that XLM will be accepted under the new international standard ISO 20022 for exchanges between institutions, XLM could have a big run this October.
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