Join Our Telegram channel to stay up to date on breaking news coverage
The cryptocurrency market has had a rough 24 hours, along with global stock markets. Its total cap stands at $1.96 billion, down by 4.6% in the past day. Most major coins have fallen along with, including bitcoin (BTC), ethereum (ETH) and solana (SOL). However, a sharp dip always creates the potential for a sharp rebound. As such, we’ve listed the 5 cryptocurrency to buy for a price boom this weekend. This covers coins with good short- and long-term potential.
5 Cryptocurrency to Buy for Price Boom This Weekend
1. Lucky Block (LBLOCK)
LBLOCK continues to have a strong week. It’s up by 16% in the past 24 hours, reaching $0.00928347. This represents an impressive 74% rise in the past week and a whopping 700% jump in the last 14 days.
LBLOCK recently set a new all-time high of $0.00974554, some 13 hours ago. This has been a recurring pattern all week, with the altcoin rising by roughly 2,000% since launching at the end of last month.
It’s hard to say where LBLOCK will stop, given it’s such a new crypto and may have plenty of room left to rise. It’s the native token of the Lucky Block lottery platform, which is based on Binance Smart Chain. It has now racked up 35,000 holders, with this number likely to be obsolete in the next few days, if not hours. Such growth has been driven largely by forthcoming release of the beta version of its app, which is due for full launch on March 21.
1/ Dear Lucky Block Army,
Many of you have been asking about the Beta Testing for the Lucky Block App and we have an important announcement to share.
The release of the beta testing version of the app will now take place on 07.03.2022. pic.twitter.com/P9bEVQkXhF
— Lucky Block (@luckyblockcoin) February 14, 2022
Starting from March 25th, Lucky Block will hold regular draws. Interested parties can enter by purchasing tickets using LBLOCK, with entrants having the chance to win 70% of each lottery’s jackpot fund. Meanwhile, 10% of each fund will be shared equally among all LBLOCK holders, regardless of whether they formally enter or not.
? Important announcement regarding @LBank_Exchange listing! ?
Make sure you join our telegram and be first to know about future announcements! ?
? https://t.co/4MigxHlmDP pic.twitter.com/a0xM7tKQgM
— Lucky Block (@luckyblockcoin) February 7, 2022
Currently, investors can trade LBLOCK on PancakeSwap and on the LBANK Exchange. Given that it’s growing strongly already, it’s likely that more listings will be added soon. This is why it’s one of our 5 cryptocurrency to buy for a price boom this weekend.
2. Bitcoin (BTC)
BTC has dropped by 5% in the past 24 hours, bearing the brunt of market fears surrounding the Russia-Ukraine crisis. At $40,954, it’s also down by 6% in the past week and by 3% in the last 30 days.
BTC’s technical indicators suggest that, contrary to the wisdom of crowds, now may be a good time to buy. Its relative strength index (in purple above) has dived almost to 20, indicating that it’s oversold. Likewise, its 30-day moving average (in red) is falling below its 200-day average (in blue). When it completes this move, it may signal a prime time to reenter.
While bitcoin has had a rough start to the year, analysts remain bullish for its prospects once the global macroeconomic situation stabilises. For instance, research firm FSInsight released an investor note at the start of this month predicting that it could end the year at $200,000. Similarly, Bloomberg analyst Mike McGlone has long held fast to his contention that it will reach $100,000 this year, driven by it increasingly being seen as digital version of gold.
$100,000 #Bitcoin, $50 #Oil, $2,000 #Gold? 2022 Outlook in 5 Charts – Peaking commodities and the declining yield on the Treasury long bond point to risks of reviving deflationary forces in 2022, with positive ramifications on Bitcoin and gold. pic.twitter.com/j3VNAOCwuz
— Mike McGlone (@mikemcglone11) December 9, 2021
It’s also worth pointing out that BTC now commands $62.4 billion in institutional investment, much more than any other coin. It continues to attract the most outside interest, and as the market’s leader, it will inevitably lead any significant recovery and new bull market.
3. Neo (NEO)
NEO is a rare major coin that’s having a good day, despite the state of the rest of the market. It’s up by 5%, rising to $26.00 in the past 24 hours. This level also represents an 8% rise in the past week and a 30% jump in the last 30 days.
NEO’s chart reveals that it’s picking up momentum after several months of decline. Its RSI shot up from 30 around a week ago, and remains around 60, suggesting continued strength. Its 30-day average has also recently overtaken its 200-day, indicating a new upwards trend.
NEO has been a neglected coin for too long, but not anymore. Its native platform, the layer-one blockchain Neo, has announced it’s partnering with China’s state-backed Blockchain Service Network. As a partner, it will provide infrastructure services to the BSN, which is planning to create its own permissioned chain called Jiuquan. This is massive news for Neo, with the partnership likely exposing it to new opportunities and customers.
?We are thrilled to announce that @Neo_Blockchain will be a framework provider on the BSN DDC!
Now users can digitize and automate asset management through smart contracts provided by NEO.
?Guess which blockchain framework will be next? https://t.co/758UyNaY3w
— BSN (@bsnbase) February 15, 2022
Interestingly, NEO is one of the few coins that didn’t set a new all-time high in 2021, with current high of $198.38 set back in January 2018. This means it has plenty of room left to rise. This is why it’s one of our 5 cryptocurrency to buy for a price boom this weekend.
4. Polkadot (DOT)
DOT is another seriously under-appreciated altcoin right now. At $18.51, it’s down by 4% in the past 24 hours, and by 10% in the past week. It has also fallen by 26% in the past month and by 42% in the past year.
DOT’s RSI hit nearly rock bottom a couple of days ago, and remains low. At the same time, its 30-day average continues to flag below its 200-day. This all suggests it’s largely undersold right now, and due a big upwards correction in the not-too distant future.
It’s certainly odd that DOT has sunk so low in recent weeks, given how fundamentally strong it is. Its native platform, Polkadot, is one of the most promising layer-one blockchains in the sector. It has been hosting auctions for parachain slots on its main chain since the end of last year. These will decide which projects join Polkadot’s overall network, with the 9th such auction end a week ago.
Congratulations to @hydra_dx on winning Polkadot's 9th auction!
HydraDX will be onboarded at block #9,388,800 [roughly March 11,2022] at the beginning of lease 7 with the other winners from auctions 6-11. Over 5.3K network stakeholders locked up DOT in favor! pic.twitter.com/x3wMkMDKA9
— Polkadot (@Polkadot) February 10, 2022
Once the parachains are up and running, Polkadot should become much busier. This means more DeFi activity and more demand for DOT. Indeed, certain analysts believe it could be one of the biggest coins of 2022. It’s certainly overdue a rally at some point, which is why it’s one of our 5 cryptocurrency to buy for a price boom.
5. Internet Computer (ICP)
At $20.14, ICP is down by 6.5% in the past 24 hours. It’s also down by 7% in the past week and by 31% in the past month.
ICP is another under appreciated coin. Its RSI is no higher than 40, and hasn’t been high for a long time. Its 30-day average is also flatlining, and remains no higher than its 200-day average.
However, ICP holds considerable promise as a discounted investment that could boom in the not-too distant future. This is largely because its native platform, the Internet Computer, is pursuing integrations with Bitcoin and Ethereum, respectively. This means that users of the Internet Computer will, once the integrations are complete, be able to execute Bitcoin and Ethereum transactions.
1/ #BTC ? #ICP direct integration ? ?
Phase 2 is complete: @dfinity cryptographers & engineers release new Bitcoin integration API.✅ Phase 1: Threshold ECDSA signatures
✅ Phase 2: BTC<>ICP Developer Preview (see demo)
?️ Phase 3: BTC<>ICP full integration (end of Q1) pic.twitter.com/78fHwAJcna— DFINITY (@dfinity) February 3, 2022
It also means that Bitcoin may end up having its own DeFi ecosystem. This is because Internet Computer smart contracts will be able to transact in bitcoin, with these contracts be usable by DeFi protocols. While this is still some ways off, it’s likely that once the market catches wind of this development, ICP could rally considerably.
Capital at risk
Read more:
Join Our Telegram channel to stay up to date on breaking news coverage
Staking
Bitcoin
Gaming
Best Coins
Buy NFTs