El Salvador Drops External Debt, Bitcoin (BTC) Analyst Dan Gambardello Expresses Optimism Regarding BTC's Weekly Chart

El Salvador has significantly shifted its fiscal strategy, as President Nayib Bukele announced that the country will no longer depend on external debt to finance its budget.

El Salvador will no longer rely on external debt to finance its budget, President Nayib Bukele announced. The nation has integrated Bitcoin into its economic framework since Bukele took office. On September 7, 2021, it officially became the first country to adopt Bitcoin as legal tender.

Meanwhile, crypto analyst Dan Gambardello expressed optimism regarding Bitcoin’s weekly chart, highlighting a bullish consolidation pattern that could initiate the next market rally. He also emphasizes several forthcoming events that may play a key role in driving this potential upward movement. Hence, investors are searching for affordable tokens, particularly the best cheap crypto to buy now under 1 dollar.

5 Best Cheap Crypto to Buy Now Under 1 Dollar

nobr="true"Fantom (FTM) has seen significant price action, with a 15% rise over the past week, now trading at $0.516. Meanwhile, Reef has made strategic advancements on multiple fronts. Over the past year, Celo has achieved significant milestones, registering 208 million transactions and experiencing 119% growth year-over-year.

To address DeFi fragmentation caused by the increasing number of blockchains, Osmosis has launched the Polaris portal. The Mega Dice (DICE) presale has attracted substantial attention, raising $1.86 million. Meanwhile, Bitcoin has fallen back to $57,000 following a weekend rally.

1. Fantom (FTM)

Fantom (FTM) has experienced notable price movement recently, rising by 15% last week and currently trading at $0.516. Over the past 24 hours, the token has managed a 0.33% increase, showing resilience against the broader market downturn. This upward trend positions FTM as a key player in the cryptocurrency space.

One of the driving forces behind Fantom’s growth is its expanding role in the DeFi sector. Its ecosystem enables developers to create decentralized applications (dApps) with low transaction fees, typically around $0.01. As a result, this has attracted significant attention, particularly from large investors and crypto whales.

Furthermore, Fantom has consistently outperformed 80% of the top 100 cryptocurrencies over the past year, surpassing Bitcoin and Ethereum in performance. Currently trading above its 200-day simple moving average, FTM provides a strong signal to long-term holders.

2. Reef (REEF)

Last week, Reef made several strategic developments across multiple fronts. A DAO protocol developer began work on Monday, and the team had an introductory meeting with the Chief Business Development Officer of a chain-agnostic CeFi and DeFi aggregator. They also met with a representative from a centralized exchange (CEX) to discuss listing $REEF and engaged with a CEX that already supports Reef, seeking to add Reef chain integration.

Reef initiated discussions with the team behind a popular wallet app about integrating the Reef chain with ongoing talks. Further, conversations are in progress with several fiat on-ramp providers to explore integration options, covering costs, timelines, and liquidity. Additionally, an agreement with a game development studio was drafted, and Reef committed to sponsoring and speaking at a blockchain event in Europe in Q1 2025.

On the partnership side, Reef signed agreements with a betting platform to integrate $REEF. An announcement is soon expected, and a bridge developer will be revealed shortly.

THIS WEEK AT REEF

Friday, September 13, 2024

– DAO protocol developer started work on Monday

– Had an introductory meeting with Chief Business Development Officer at a chain-agnostic CeFi and DeFi aggregator

– Met with representative from a centralized exchange about…

— Reef Chain (@reef_chain) September 14, 2024

Reef is trading at $0.002482, reflecting a 6.52% increase in the last 24 hours. Year-to-date, Reef’s price has risen by 99%, outperforming 60% of the top 100 crypto assets. The token trades above its 200-day simple moving average (SMA) by 39.87%, with the 200-day SMA at $0.001793. Additionally, Reef has seen 20/30 green days, making up 67% of the period.

The token has shown strong price support at $0.0016, with the next target potentially being $0.0033 in the short term. Based on technical indicators, the general market sentiment remains bullish, and the price is forecasted to increase by 226.85%, possibly reaching $0.007876 by mid-October. However, the performance remains dependent on broader market trends, particularly Bitcoin’s stability