For that price (US$60=S$73 only), you'd be lucky to get something of a bed in a hotel. You would probably only get a hostel with multishare facilities in Singapore. You may try couchsurfing though.

Why don't you go to any of the travel websites, and put in S$80 as your benchmark price and see what you get. It is quite expensive to stay in Singapore. For cheaper places, you'd be better off in Malaysia, Thailand or Indonesia.

FYI - Feb is PEAK travel period as its the Chinese Lunar New Year on 10th Feb. Yes, lots of pictures to take especially in Chinatown area.. but its also the time where everyone in the region travel everywhere so just prepare yourself for crowds, and booked up places.