With Bitcoin’s price peaking above $35K for the first time since May 2022, many investors feel that they may have missed the bear market bottom. However, the Bitcoin halving is still months away, and some analysts predict a pullback before rallying further.
Yet, despite Bitcoin’s recent solid performance, altcoins have fared even stronger, with many dramatically outpacing the market leader. This article lists five cheap cryptos under $1 that could explode in price.
Bitcoin Experiences Google Search Volume Bump and Positive Market Sentiment, but Investors Could Get One Last Chance to Buy Low
Market sentiment has been booming for Bitcoin, with Google trends data showing that the search term “buy Bitcoin” has spiked massively in the United Kingdom.
According to research from cryptogambling.tv, this spike equates to a staggering 826% increase. The research also highlighted a 250% increase in UK search volume for “Should I buy Bitcoin now?”
This illustrates significant growing investor sentiment, particularly given that the United Kingdom holds the third-highest crypto transaction volume behind the United States and India. As such, we could see an influx of new liquidity entering the market, enabling Bitcoin to climb much higher.
In confluence with retail investors, prominent crypto analysts are also optimistic that the Bitcoin price is on an upward trajectory. However, numerous analysts also believe there could a near-term pullback first.
Rekt Capital noted a historic Bitcoin price chart pattern that preceded its 2020 bull run. According to the analyst, there remains a 100-day period where Bitcoin could retrace before the halving commences.
However, the analyst also alludes that this would be a monumentally good time to buy, expecting an explosion in price to follow.
Analyst Stargazer_fx also expects a pullback for Bitcoin, predicting a retest to its $30.7K before a breakout above $36K.
However, other analysts expect an uptrend continuation, meaning investors may have already missed the lowest Bitcoin prices. FieryTrading notes an ascending triangle chart pattern formation, predicting that a breakout to $40K is imminent.
Ultimately, whether Bitcoin will present investors with another cheap buying opportunity remains to be seen. Yet, either way, Bitcoin’s upside is significantly limited due to its considerable market cap and the fact that it is already the most well-established cryptocurrency.
Nevertheless, there are several other projects currently priced under $1, which could present tremendous gains as the bull market pushes forth.
These projects are Bitcoin Minetrix ($BTCMTX), XRP, Meme Kombat ($MK), TG Casino ($TGC) and Arbitrum ($ARB).
Bitcoin Minetrix: Revolutionary Stake-to-Mine Project Enabling Users to Effortlessly Mine Bitcoin Without Hardware Nears $3.2 Million in Presale
Bitcoin Minetrix is a new cryptocurrency enabling users to effortlessly earn Bitcoin through its cloud mining platform.
The project works by users staking $BTCMTX tokens in return for Bitcoin mining credits; they can then burn these credits on the platform for cloud mining power, which earns them Bitcoin.
This operation streamlines Bitcoin mining, making it accessible to everyone without requiring technical expertise, expensive hardware, or overhead costs. All users need to get started is an Ethereum-compatible wallet and $BTCMTX tokens.
$BTCMTX plays a pivotal role in the process, meaning there could be significant demand once the platform launches. However, with tokens being locked for staking and rewards paid out in mining credits, the available supply will be limited, translating to massive price potential.
Several top analysts have favored Bitcoin Minetrix. One is YouTuber Michael Wrubel, who touted to his 310K YouTube that he is “bullish” on the project.
The project is currently in presale and has raised $3.1 million in just over one month. Currently, the price is $0.0114, but this is set to rise 10% in four days, so potential investors must be fast.
XRP: Global Bridge Currency With Renowned Partnerships and Regulatory Certainty
XRP is a popular crypto that facilitates cross-border payments via RippleNet. The project has attained partnerships with countless financial institutions and governments, and its team is well-ingrained within the global financial sector.
With the prospect of central bank digital currencies looming, the XRP community believes that the crypto will be used to settle cross-border payments between different CBDCs.
This could see trillions in liquidity flow through the crypto, providing an unprecedented level of demand. However, the project’s hype has been stunted due to the SEC suing Ripple (XRP’s founding company) for selling unregistered securities in 2020.
After a lengthy legal battle, Ripple Labs notched a partial victory, with the court finding that XRP is not a security. While the case is ongoing, this provides an unparalleled degree of regulatory certainty, which could bolster its adoption as CBDCs emerge.
Following the partial victory, Ripple Labs has continued pushing forth with business development. A recent announcement stated that the Dubai Financial Services Authority (DFSA) has approved using Ripple’s XRP cryptocurrency in the Dubai International Financial Centre (DIFC).
This will enable XRP to be used within the Middle East’s leading financial hub, also connecting it with other financial hubs around the world through one unifying currency.
Currently, XRP is priced at $0.59, up 8% this week and 17% this month but down 84% from its all-time high (ATH).
Meme Kombat: GambleFi Meme Coin That Taps Into Multiple Crypto Trends for Significant Upside Potential
Meme Kombat is a unique twist on a traditional meme coin, integrating the prominent crypto-gambling trend to provide an immersive and engaging experience. The project enables users to wager on the outcome of AI-generated meme battles to earn crypto rewards.
It launched a presale just one month ago and has raised $1.1 million, indicating the community’s vast interest.
Meme Kombat has also drawn excitement from prominent analysts. For instance, Cilinix Crypto recently exclaimed that he bought the Meme Kombat presale, referencing that its viral meme coin allure and utility-driven platform could lead it to explode.
YouTuber Jacob Bury also covered the project recently, stating it could be the “Only meme coin worth buying in 2023”. Bury is renowned for discovering promising cryptos early, lately faring as one of the earliest Wall Street Memes presale proponents before it did a 3x.
Another promising factor is the project’s staking mechanism, which provides a 112% annual percentage yield (APY). As well as rewarding community engagement, this will also drive demand and lock up supply, creating favorable dynamics for an increasing price.
Currently, investors can buy $MK for $0.189. However, they must be fast because the price is set to rise in six days.
TG Casino: Annonymous Casino Built on Telegram With 25% Cashback on Losses and a Cutting–Edge Buyback Mechanism
TG Casino is a KYC-free crypto casino built on the Telegram application. The project boasts significant advantages in convenience and accessibility, enabling anyone to get started with just a crypto wallet.
There is no need to create an account, so users can begin gambling in seconds. Moreover, its Telegram-based application makes placing bets far easier and more beginner-friendly.
Telegram’s end-to-end encryption also means that users can gamble privately and unrestricted from anywhere in the world.
These factors hint at an in-demand platform, but the $TGC token’s pivotal role in the ecosystem indicates tremendous capital appreciation potential.
$TGC holds countless benefits like free rewards, access to exclusive games and rooms, 25% cashback on all losses, and a 310% staking annual percentage yield (APY).
Another promising factor is the project’s innovative buyback mechanism, which repurchases $TGC tokens off the open market with a portion of the platform’s revenue. It will allocate 60% of these tokens to staking rewards and burn 40%, significantly bolstering its supply and demand dynamics.
With all this in mind, it is no surprise that the presale has raised over $1.6 million in just over one month. Currently, investors can buy $TGC for $0.15, but they cannot wait around as the presale is nearing its $2.5 million goal.
Arbitrum: Ethereum Layer 2 With Staking Proposal Deemed to Induce Scarcity
Arbitrum is a layer 2 blockchain that provides low fees and fast transactions while benefiting from Ethereum’s security. The project enjoyed an explosive launch earlier this year, peaking at $1.8. Following this, its price sold off to lows of around $0.76 in September.
However, interest has begun building for Arbitrum again amid an exciting proposal in the Arbitrum DAO, which would see a significant change to the project’s tokenomics. This has caused its price to climb to $0.95.
The proposal is called Active ARB Staking and will enable users to stake $ARB tokens, with 1.75% of the total supply allocated to staking rewards.
Analyst Poopman analyzed the proposal, highlighting its pros and cons. The analysis noted that active staking could bolster token demand and lock up a significant portion of the circulating tokens.
Factoring in the its increasing demand as traders turn to Arbitrum in the bull market, this could equate to massive upside potential.