Macroeconomic policies in the United States and Japan have driven Bitcoin's bullish trend. Bitcoin prices surged this week following key interest rate decisions by the Federal Reserve and the Bank of Japan. Since the Fed announced the rate cut, Bitcoin has risen more than 11% over the weekend, surpassing $62,000 for the first time in September.
Meanwhile, altcoins are showing signs of stabilization, forming a higher lows pattern. This suggests a decrease in selling pressure. With a major price floor established, altcoins appear to be entering a low-volume, range-bound phase, which could mark the beginning of a slow rise for the broader altcoin market. In light of these developments, investors are looking for affordable tokens, especially the best cheap cryptocurrencies to buy right now for under $1, but this takes time and effort.
5 Best Cheap Cryptocurrencies to Invest in for Under $1
1. PYTH
Pyth Network is committed to expanding the coverage of global financial services through blockchain technology. Its native token PYTH plays an active role in the ecosystem by facilitating transactions, supporting payments, and incentivizing token holders to participate. A key innovation in Pyth Network is Oracle Integrity Staking (OIS).
PYTH is trading at $0.3272, up 4.17% in the past 24 hours. Additionally, the token is trading close to its recent high of $0.335986 and the sentiment remains bullish.
2. ARB
Arbitrum (ARB) is gaining momentum, especially with the upcoming Odyssey event. A new update, Arbitrum Nitro v3.2.0, is now available for developers and node operators. This release focuses on stability improvements and introduces no configuration changes compared to the previous v3.1.2 release.
Currently, ARB is trading at $0.6044, up 1.14% in the past 24 hours. In addition, the stock has been trending up in 17 of the past 30 trading days, with the daily close higher than the daily open. This means that the incidence of "up days" is 57%. In addition, ARB's high liquidity and market capitalization indicate a favorable market environment.
Meanwhile, Arbitrum is expected to rise by 229.90% and might reach $1.980584 by October 22, 2024. Moreover, the market sentiment remains neutral with a Fear and Greed Index score of 52. Moreover, the coin’s price volatility over the past month is 6.37%. Given this outlook, Arbitrum might offer a favorable buying opportunity.
3. Civil Code
Bitget Token (BGB) is trading at $0.9695, up 0.52% intraday. The token has experienced significant growth so far this year, with its value rising by 112%. During this period, BGB has outperformed 59% of the top 100 crypto assets.
Bitget Token is trading 110.48% above its 200-day simple moving average (SMA) of $0.458521, indicating a strong uptrend. Its market capitalization supports its strong liquidity. Moreover, according to technical analysis, the market sentiment for BGB is neutral. Among the available indicators, 21 indicate a bullish trend, while 9 indicate a bearish outlook.
Regarding the short-term forecast, BGB is expected to trade between $0.956548 and $0.990675 this week and it may rise by 3.57% and reach the upper limit by September 29, 2024. Moreover, the coin may rise by 3.94% and reach $0.994217 by October 22, 2024.
4.VET
VeChain has made significant progress in the blockchain field by obtaining a US patent (US 12,093,419 B2). The patent focuses on innovative ways to manage user authentication data.
The development aims to improve the security and efficiency of blockchain platforms. The patent outlines a method for verifying data access while maintaining user privacy, a key aspect of decentralized applications.
VeChain (VET) is trading at $0.0237, up 1.02% intraday and 45% year-to-date. VET has shown positive momentum over the past 30 days. On 50% of those days, the closing price was higher than the opening price. Recent activity indicates continued market confidence in the project.
5.BEAM
Beam (BEAM) is trading at $0.01772, reflecting a 4.37% gain over the past 24 hours. So far this month, Beam has experienced 16 up days, accounting for 53% of the time. This indicates moderate upside momentum. The token is trading near recent highs of $0.017491 and has strong liquidity relative to its market cap.
This week, Beam is expected to fluctuate between $0.016948 and $0.02531. If the price reaches the upper limit of the range, it could rise by 49.34%. In this case, the price could reach $0.02531 by September 29, 2024.
Beam’s price volatility is 10.12% in the past month. The data shows a positive short-term outlook, making it a stock worth investing in.
