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Bitcoin (BTC) is standing there naked
Bitcoin reached a peak, and some would say
insane price of $69,000 as recently as November 2021. However, since then it
has lost over two-thirds of its value. As at the time of writing, the price of
Bitcoin was a little over $19,000 and although that does represent a massive
loss of value, there does appear to be a lot of resistance that is keeping
Bitcoin from falling below the $18,500k mark. At least for now.
Cryptocurrencies have benefited from the
most favorable financial conditions for most of their existence. Since
Bitcoin’s inception, the Fed has mostly worked to support demand. The US
Federal Reserve acquired Treasury securities and government-backed mortgage
securities worth $6.5 trillion during that time. In an effort to promote
risk-taking, raise asset values, and increase demand through wealth gains, this
kept rates low. But those days are rapidly drawing to a close, leaving many to
believe that Bitcoin’s essential ‘nakedness’ will be exposed. The reality is
that in the final analysis, Bitcoin is just a series of numbers and not much
else.
Nobody is coming to rescue Bitcoin and if
the crypto market does not recover, then the Bitcoin price could have a lot
further to fall.
Chronoly (CRNO) is
fully clothed
The team behind Chronoly (CRNO) are looking like a pretty prescient bunch right
now. They had the foresight to launch a new token that is not simply a string
of numbers. Instead, they adapted a model that used to be used for national
currencies last century. That method was called the “Gold Standard” ; it meant
that the currency was pegged to the price of gold. Chronoly (CRNO) works
similarly, only instead of precious metals, the token is pegged to the value of
a high-end, investment-grade watches.
Each watch is represented by an NFT which
is then sub-divided into much smaller NFTs for users to buy with an investment
from as little as $10. Investors can trade their NFTs, stake for extra income,
borrow against them and trade them either on Chronoly’s own marketplace or on a
third-party platform such as OpenSea.
As if this was not attractive enough, Chronoly throws in some further
goodies, such as a free monthly lottery in which the winner gets a real
investment-grade watch and also a referral scheme that pays holders 10% of the
value of any investment they introduce.
Since launch, the price has increased 500%
from $0.01 to $0.06. Crypto enthusiasts have been talking
about this up and coming token which has gained real traction amongst the
crypto community. Although significant gains are predicted to be had with the
token, the NFT’s that will be launched on the marketplace are being talk about
as a potential new ‘stablecoin’ The
potential therefore for Chronoly to become a unicorn company during 2023 and
embed its position as a top crypto project seems more like a reality waiting to
happen. This has to be one of the most interesting projects we have seen during
2022. Find out more about how to enter the presale below.
Website: https://chronoly.io/
Presale: https://presale.chronoly.io/register
Telegram: https://t.me/Chronolyio
Twitter: https://twitter.com/Chronolyio
Read More: Bitcoin At $18,500 Resistance As Chronoly Holders 6x Their Investment
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