The cryptocurrency currency market continues to recover and resist. El Salvador the new Bitcoin Act revived the market for a few days, and BTC almost took back $ 39,000. However, most cryptocurrencies have since been corrected by 2% or more in the last 24 hours. The saw they see highlights the difficulty of making movements at this unpredictable moment. Nevertheless, here are the top 5 cryptocurrencies to buy at a cheap price in the medium term.
This list covers coins that have a good chance of rising in the medium term. Given that the entire market has fallen in recent weeks, this means they can be obtained right now at a relatively discounted rate.
Top 5 cryptocurrencies in the medium term at an affordable price
1. Buy Bitcoin (BTC)
Bitcoin (BTC) has been the best performer on the market over the last couple of days. It rose more than 7% per day after Salvador made it a legal tender in the Central American Republic. On Thursday, $ 38,849 (according to CoinGecko) it dropped to just under $ 36,000. However, it has risen nearly 2% since Thursday, to just over $ 37,000. Its performance is impressive as it was close to $ 31,000 until Tuesday.
Assuming the government of Nayib Bukele has seriously popularized the use of bitcoin throughout El Salvador, then $ 37,000 is cheap for a cryptocurrency. At the same time, State Street has become the latest American bank to launch a separate cryptocurrency unit. It is linked to the Bank of New York Mellon, Northern Trust and Standard Chartered, suggesting that institutional demand for Bitcoin remains strong enough to support future price increases.
2. Buy Ethereum (ETH)
Ethereum (ETH) is one of the best cryptocurrencies in the medium term. It also rose after the news of El Salvador, however has since fallen To $ 2,450. Nevertheless, it still holds its value better than other large altcoins and has a very good outlook in the medium term.
Deposits in Ethereum 2.0 continue to grow data from Dune Analytics. The owners are now committed to the contract for 5.45 million ETH (4.7% of ethereum’s deliveries). This anticipates the amount of ETH that users will remove from circulation when the transition to proof of contribution in Ethereum 2.0 is complete. Some analysts have suggested that stakeholders could market up to 30% of ethereum’s supply. This could lead to large price increases once Ethereum 2.0 is released.
3. Buy Cardano (ADA)
Cardano (ADA) has a $ 1.52 big discount compared to an all-time high of $ 2.45 (set on May 16). It rose as high as $ 1.62 as a result of El Salvador news, but fell with other markets. Its level of resistance has fallen last week, which is not surprising given the market-wide recession. It says its support level has risen over the past couple of days, from $ 1.45 to $ 1.51.
Cardano set its ATH at a time when it has not yet started smart contracts. These are due tolate summer, ”With the introduction of the Alonzo update. With smart contracts, Cardano will become a full-fledged DeFi platform. And as examples Binance Smart chain and Polygon high Ethereum fees mean there is plenty of room for new entrants.
4. Buy Ripple (XRP)
The Ripple (XRP) is definitely one of the cryptocurrencies that needs to be monitored in the medium term. At only $ 0.87, it’s very cheap, the least compared to its $ 3.40 ATH (set in January 2018). It has dropped quite a bit with other markets in recent weeks. It has fallen 41% over the last 30 days, while ETH and Binance coins (BNBs) fell 40.9% and 46% over the same period.
The key to XRP’s medium-term performance is Ripplen’s ongoing work in the Securities and Exchange Commission. According to encryption-focused lawyer Jeremy Hogan, it has a good chance of achieving a favorable result.
Ripple never liked the ICO because the XRP ledger already existed when Ripple was formed. So previous lawsuits against companies with ICOs don’t usually show that Ripple had a fair statement that what it did was illegal. Ripple makes an important difference here.
– Jeremy Hogan (@ attorneyjeremy1) June 7, 2021
Similarly, other observers have found that about 96% of all SEC cases are resolved before going to court. This raises the hope that Ripple’s case will end up giving the company some legitimacy.
96% of all SEC cases are resolved before trial (60% before file and 90% upon discovery). Do you think this “weak” case is an exception and falls within the 4 percent that ends in litigation?
Please provide details.https://t.co/zZSNlW4oTK
– Stefan W.Huber @ (@Leerzeit) May 31, 2021
If so, expect the XRP to rise sharply.
5. Buy Decentraland (MANA)
Decentraland (MANA) is another coin that is somewhat far from its all-time high. May 7, set at $ 1.60, it is currently $ 0.777, down 52%. The coin has dropped 45.6% in the last 30 days and 13% in the last two weeks. However, it has risen 7% in the last 24 hours. This is largely behind the news that the blockchain protocol Boson paid $ 704,000 for a plot in Decentraland, a blockchain-based game similar to Second Life.
We bought LAND in @Decentraland ✨
The deal, the largest dollar-denominated LAND deal to date at Decentraland, gives Boson full control of the premium apartment building in the Vegas City area 🔥
– Boson Protocol (@BosonProtocol) June 9, 2021
Other positive news is the auction giant Sotheby’s opens a virtual gallery in Decentraland. This follows a similar transfer from Playboy, while Big Time Studios – the makers of Decentraland – has recently outlined plans to bring non-replaceable characters to the game. All this suggests that MANA has a good chance of rising at a greatly reduced price.