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5 Best Cryptocurrency To Buy At Cheap Prices July 2021 Week 4

5 Best Cryptocurrency To Buy At Cheap Prices July 2021 Week 4

The cryptocurrency market has recoiled slightly after its strong rally yesterday. Its total value fell to $1.46 trillion earlier today, having stood at $1.58 trillion the day before. This marks a decline of around 7.5%, although the market has partly recovered since the morning. Some of the biggest altcoins have shrunk by more than 4% in the past 24 hours. However, while Amazon has now officially denied rumours related to it accepting bitcoin, the recent fall presents opportunities for buying cryptocurrencies at a discount. At the same time, the market remains comfortably below all-time highs set back (mostly) in May. That’s why we’ve picked the 5 best cryptocurrency to buy at cheap prices.

This mostly covers coins with a low price right now. Although it also includes a couple that are cheap relative to their likely long-term price.

5 Best Cryptocurrency To Buy At Cheap Prices

Bitcoin (BTC)

Bitcoin (BTC) has eased off a little after climbing as high as $40,347 yesterday. It now stands at just over $38,000, representing a 22% rise over seven days and a 18% increase over 30. Commentators suggest that this jump is largely the product of reports indicating Amazon would soon be accepting bitcoin. However, the fact that BTC remains up compared to a week ago, despite Amazon’s official denial, indicates that the retail giant wasn’t the only factor.

Bitcoin (BTC) price chart - 5 Best Cryptocurrency To Buy At Cheap Prices.

While $38,000 is obviously a considerable lump of money, BTC is still 40% below its record high of $64,804. This arguably makes it one of the 5 best cryptocurrency to buy at cheap prices. That said, $38,000 may seem even cheaper still, if you think BTC has the potential the rise well above $64,000.

In fact, numerous analysts and industry participants do believe bitcoin is going higher. A recent survey of 42 cryptocurrency researchers and executives resulted in an average end-of-year price prediction of $66,284. More importantly, the average prediction for the end of 2025 was $318,417. Such a figure makes $38,000 look incredibly cheap.

At the same time, models also indicate a high price for bitcoin in the not-too distant future. Bitcoin’s 11-year exponential trend forecasts a price of $100,000 by the end of the year. Meanwhile, the stock-to-flow model suggests a price well over $100,000 by 2022. Its biggest proponent — the pseudonymous analyst PlanB — claims that it’s currently supported by on-chain data.

Cardano (ADA)

Cardano (ADA) rose with the rest of the market yesterday, climbing as high as $1.36. However, it has fallen more steeply than some of the other major coins. It has dwindled by nearly 5% in the past 24 hours, moving down to $1.27. Still, it’s up by 12% in the past week, and by over 700% in last 12 months.

Cardano (ADA) price chart - 5 best cryptocurrency to buy at cheap prices.

Compared to the likes of BTC and ETH, ADA’s performance over the past week has been a tad disappointing. Nevertheless, this can be flipped on its head and used as indication that it’s due for a larger rise soon. And at only $1.27 it certainly is cheap right now.

Indeed, Cardano appears to have a bright future ahead of it. It’s due to introduce its Alonzo upgrade next month. This will bring smart contracts to its platform, which will thereby be able to host a wider range of dApps. In effect, the upgrade will turn the blockchain into a fully fledged rival to Ethereum. Founder Charles Hoskinson has previously boasted that over 100 companies are ready to launch on Cardano once the platform matures. If true, this could send ADA rising healthily.

Polkadot (DOT)

Polkadot (DOT) currently stands at $14.06. This represents a 22% rise over the past week, although DOT has climbed down by 4.5% in the past day. It’s also down 70% compared to its ATH of $49.35, set on May 15.

Polkadot (DOT) price chart - 5 Best Cryptocurrency To Buy At Cheap Prices.

70% is a big drop. But again, a bigger-than-average drop arguably prepares the way for a bigger-than-average rise. Polkadot’s introduction of parachains helps strengthen this suspicion. Parachains are effectively side/sub-chains which connect to the main Polkadot relay chain. Each parachain is intended to host a dApp, meaning that once parachains launch on Polkadot it will become much busier.

Not only that, but DOT — which is needed to bond parachains to the relay chain (and for staking) — will also become more in-demand. In time, this will exert considerable upwards pressure on its price. This is why DOT is currently one of the 5 best cryptocurrency to buy at cheap prices right now.

Uniswap (UNI)

Uniswap (UNI) is another highly promising altcoin that’s pretty cheap right now. At just over $18.50, it’s up by 18% in the past week, although it is down by 5.5% in the past 24 hours. It’s also up by 16% in the past month.

Uniswap (UNI) price chart.

As a decentralised exchange, Uniswap may potentially enjoy bigger growth in the future than centralised exchanges, which are increasingly coming under regulatory scrutiny. At the same time, Uniswap itself has enjoyed a number of important updates and developments in recent weeks, all of which will help it grow.

It launched Version 3 of its exchange in May, while it launched liquidity mining for v3 at the beginning of July. This lets users earn rewards for staking UNI and other tokens.

On top of this, it also launched on the Optimistic Ethereum mainnet, a layer-two scaling solution that will help it handle a much greater quantity of transactions. As the DeFi market continues to grow, this should help Uniswap remain at the forefront of such growth.

Axie Infinity (AXS)

Axie Infinity (AXS) has been something of an outlier in recent weeks. Despite much of the market experiencing a lack of confidence, it repeatedly broke its ATH at numerous points in July. As of writing, its current record high is $49.20. However, it has risen by 32% in the past 24 hours, with its price currently standing at $48.63.

Axie Infinity (AXS) price chart.

While $48 remains pretty cheap, there’s a very good chance that AXS will break (and possible re-break) its ATH in the very near future. As a decentralised game, it’s becoming increasingly popular. It has now touched 500,000 daily active users, having stood at only 350,000 at the beginning of July and 100,000 at the beginning of 100,000.

Assuming this growth continues, AXS is likely to rise considerably in price. It also benefits from being part of a growing sector of decentralised, NFT-based video games. In recent months, the sector has seen the emergence of titles such as Gods Unchained, Lost Relics and Splinterlands. In fact, Splinterlands has just announced the private sale of its soon-to-be-released Splintershards (SPS) token, raising $3.6 million.

This indicates just how much interest there currently is in decentralised games. Yet Axie Infinity remains the biggest of the lot, boasting revenue for July of over $100 million. This is why it’s one of the 5 best cryptocurrency to buy at cheap prices.

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Top 5 Cryptocurrency To Buy For Weekend Rally July 2021 Week 4

Top 5 Cryptocurrency To Buy For Weekend Rally July 2021 Week 4

As the cryptocurrency market recovers following its mid-week selloffs, we decided to identify the best cryptocurrency to buy for weekend rally.

Having fallen to a total value of $1.2 trillion, the total market cap now stands at roughly $1.38 trillion.

This represents a rise of nearly 15% in a few days, with certain altcoins (ETH, DOGE, XLM) leading the charge.

With most major cryptocurrencies rebounding healthily, it looks like the market could have a strong weekend. As such, we’ve picked the top cryptocurrency to buy for weekend rally. This mostly covers coins with good prospects for a short-term rally.

Top 5 Cryptocurrency To Buy For Weekend Rally

1. Axie Infinity (AXS)

Axie infinity (AXS) is one of the few major coins right now, performing consistently well. In fact, it broke its all-time high only a few hours before writing, reaching $32.19. It has since retraced down to $30.78. However, even this price represents a 30% increase over the past 24 hours and a 30% increase in the past week. Even more impressively, it’s up by 150% in the past fortnight and by 850% in the past month.

Axie Infinity (AXS) price chart.

Almost needless to say, this makes AXS the best-performing coin over the past month. And there’s a good chance its rally could continue over the weekend and beyond.

For those who aren’t familiar with it, it’s the governance token for the decentralized Axie Infinity online video game. It lets holders vote for game changes, trade game creatures, and can be staked to earn rewards.

Top-50 coins over past 30 days.
Source: Blockchaincenter.net.

At the start of this month, the game’s makers revealed that it had passed 350,000 daily active users. It had only 100,000 at the beginning of June, highlighting just how quickly it’s growing.

2. Bitcoin (BTC)

Since falling to a seven-day low of $29,500 on Tuesday, bitcoin (BTC) has risen to just over $32,500.

This is a 10% rise in three days. While this isn’t as strong a bounce as that enjoyed by some altcoins, bitcoin also didn’t fall as hard. This makes it a safer bet than many other cryptocurrencies, while it still offers significant upside.

Bitcoin (BTC) price chart - Top 5 Cryptocurrency To Buy For Weekend Rally.

Bitcoin is up by 2.5% in the past seven days. On the other hand, it’s down by 1% in the past fortnight and flat over the last 30 days. It’s also 50% below its all-time high of $64,804.

However, while these percentages aren’t great, the simple fact is that if there’s going to be a rally this weekend, bitcoin will be involved.

It almost always leads to market surges (and falls), with the rest of the market seemingly unable to do anything with BTC doing it first.

Aside from that, the prevailing opinion among analysts is that bitcoin is undervalued. A recent survey of researchers and industry figures found that 61% of ‘experts’ believe it’s currently underpriced. It also arrived at an average end-of-year price prediction of just over $66,000.

Price models are even more bullish than this, with the stock-to-flow and 11-year exponential trend both suggesting a closing price above $100,000 for 2021. This is why bitcoin is one of the top cryptocurrency to buy for weekend rally since it’s likely due for a big rise at some point.

3. Ethereum (ETH)

Ethereum (ETH) has had a very good rebound. At $2,000, it has risen by 17% since falling to $1,700 on Tuesday.

It’s also up nearly 2% in the past 24 hours, by 7.5% in the past week and by 9.5% in the past 30 days. That said, it’s down by 52.8% compared to its all-time high of $4,356.

Ethereum (ETH) price chart - Top 5 Cryptocurrency To Buy For Weekend Rally.

Ethereum is the fifteenth best-performing top-50 coin over the past 30 days. Despite not being one of the very best performers, there’s a good chance of it rallying big in the not-too-distant future.

It will roll out its much-awaited upgrade EIP-1559 on August 4. This aims to make Ethereum’s fee system fair and more efficient while it will also initiate the burning of a portion of fees. The latter change could potentially squeeze the supply of ETH, making it more valuable (assuming equal or increased demand).

Deposits into Ethereum 2.0’s smart contract are still rising steadily, hitting 6.38 million ETH and further reducing circulating supply. At the same time, the gradual, phased rollout of Ethereum 2.0 continues. While the exact date of its public launch isn’t yet known, the completion of EIP-1559 should allow the Ethereum development community to concentrate their efforts on getting it up and running.

Needless to say, staking will greatly increase demand for ETH while reducing supply.

4. Dogecoin (DOGE)

Dogecoin (DOGE) is another fierce rebounder. DOGE is a game-changer and deserves to be on our list of the best cryptocurrency to buy for weekend. It jumped by 18.6% between its seven-day low of $0.162516 and its current price of $0.192828. It has also risen by 5.5% in the past week. That said, it remains a hefty 73% below its all-time high of $0.731578.

Dogecoin (DOGE) price chart - Top 5 Cryptocurrency To Buy For Weekend Rally.

DOGE often has a tendency to bounce back strongly after falls, as the chart above illustrates. It’s also looking forward to a couple of big updates early next month. The first will add SegWit and Check Sequence Verify (CSV), which will improve scalability in differing ways. The second upgrade will reduce transactions fees, making DOGE more usable as a medium of transaction.

This could likely increase demand for dogecoin. And we could also expect the market to increasingly price in the value of these changes in the coming weeks.

There’s also the Dogecoin community, which is large enough in size to provoke isolated surges. The same goes for vocal Dogecoin supporter Elon Musk, who helped push DOGE back upwards this week by updating his Twitter profile pic to include ‘Dogecoin eyes.’

4. Polkadot (DOT)

Polkadot (DOT) has risen by 23% since its seven-day low of $10.62. It now stands at $13.14, which indicates a 5.8% rise over the past week. That said, it remains down by 14% in the past fortnight and by 10% in the past month. It’s also 73% below its all-time high of $49.35.

Polkadot (DOT) price chart.

However, DOT’s poor recent performance sets it up to rally strongly. It has also performed relatively well during the recent bear market (compared to certain other coins), with its status as a proof-of-stake coin attracting institutional investors.

It is also in the process of rolling out parachains.

These are basically side-chains which connect to the main Polkadot relay chain. This will enable the Polkadot platform to host a range of apps. In turn, it will increase demand for DOT, which is used to create parachains (and is also a governance token).

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