Muhurat Trading 2023: Top 5 Crypto Picks for Diwali!

11-11-2023

Top 5 Crypto Picks for Diwali Muhurat Trading 2023

Cryptocurrency gains traction as US candidates, including Kennedy Jr., DeSantis, and Ramaswamy, accept Bitcoin donations. 12 firms seek SEC approval for a Bitcoin ETF. Amidst bank challenges, crypto emerges as a promising alternative. G20 countries work on crypto regulations, making it an appealing investment option.

These are the coins that you should consider holding for long-term investments, particularly noteworthy during the Diwali week.

Bitcoin	Based on the chart data, BTC has shown a strong and consistent uptrend, surging over 116% since January 1, 2023 Bitcoin's surge is attributed to rising institutional interest, seen as a value store Bitcoin ETF approval marks a milestone, boosting accessibility and investor interest. SEC’s first window to approve all 12 spot Bitcoin ETFs to begin today
Ethereum	Based on the chart data, ETH has shown a strong and consistent uptrend, surging over 76.50% since January 1, 2023 In November 2023, Ethereum followed Bitcoin's surge, returning to $2100 after 6 months, signaling a promising, sustained bullish trend Blackrock recently registered the "iShares Ethereum Trust," similar to the events preceding spot Bitcoin ETF. Ethereum's daily chart confirms a bullish flag breakout, suggesting a potential target at $2,678
Solana	BitMex co-founder Arthur Hayes buys SOL amid Solana's positive momentum. Solana funds gained $24 million in October, signaling renewed investor confidence Solana, once seen as an "Ethereum killer," now outperforms Ethereum. Solana surged 81% in a month, 30% in a week after Firedancer scaling solution testnet launch.
XRP	July 13: Ripple wins court battle, declares XRP not a security, triggering 70% price surge. In "Uptober," the crypto market and XRP both thrived, with XRP surging over 25% from its October lows The daily chart shows a rounding bottom pattern that is driving the current recovery trend If Ripple wins the case, the price could climb to $0.938, with a potential 38% gain
Cardano	Chainlink's LINK price surged over 90% in October, riding the broader crypto market recovery After a 1.5-year rectangle consolidation breakout, an upward rally is now evident. ChainlinkBUILD partners with Rollup Finance for oracle services and support Grayscale Chainlink Trust skyrockets 200%, signaling high institutional demand for LINK.

The crypto market's bullish trend, combined with the favorable regulatory environment, paints a promising picture for the future of digital assets. However, investing in cryptocurrency should be a well-informed decision. Remember to do your own research, stay updated with the latest developments, and approach this dynamic market with caution.

Also Read : Solana's Mysterious Surge and Crash: The Inside Scoop You Didn't Know!

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About the Author Lokesh Gupta

Expertise coingabbar.com

Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.