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For many people, crypto is just another investment opportunity. Either it makes them richer or it doesn't. If it doesn't, then they have no interest in it. But, for many others, including many crypto pioneers, there is an ideological element to crypto. They see it as being part of building a completely alternative financial, social and even cultural structure that is beyond the grip of governments. Sadly for them, crypto is much more affected by the existing system than they would like. In the case of Bitcoin, its value has taken another blow as a result of US Federal Reserve announcements this past week. For Chronoly.io (CRNO), on the other hand, it was just business as usual.
As of the time of writing, the last week of August 2022, the Chairman of the US Federal Reserve announced that they will likely keep raising interest rates as a means of tamping down inflation. This is not the news that crypto investors wanted to hear because low-interest rates are one of the primary motivators that push investors into the cryptocurrency markets.
Bitcoin, the largest cryptocurrency in terms of market capitalization, lost around 4% of its value this week following the announcement and, as a result, dipped below the $20,000 mark for the first time since mid-July. All in all, Bitcoin has lost some 57% of its value in 2022 and while it remains 'the King' of cryptocurrencies, it is clearly not invulnerable.
It has been trading up a little to $22,000 but it has a long way to go to reach the dizzy heights it had scaled by November 2021 when each Bitcoin was valued at $65,000. Will Bitcoin ever go that high again? It's too hard to tell right now.
Bitcoin has the fame and the glamour but what it does not have is any real-world physical assets to back up the value. Bitcoin is, in a way, famous for being famous; its value is based entirely on market sentiment and not really much else. Chronoly.io (CRNO) is almost the opposite as it is still (for now) relatively unknown but the value of their token is supported against the value of authentic, physical investment-grade watches by makers such as Patek Philippe and Richard Mille.
The investment-grade watch market indeed has huge potential value both for value storage purposes and capital growth. Globally, the value of the secondary watch market is currently $18bn and growing. There are very few people who can afford to buy such a watch outright but, with Chronoly.io (CRNO), they no longer need to. Each of their watches is represented by an NFT which is subdivided into bite-size fractions which can be bought for as little as $10.
Chronoly.io (CRNO) is still in a pre-sale phase which is expected to end on the 27th of September next. In the meantime, the market has responded so positively to this unique token, that the price has rocketed up a whopping 560% since the launch of the presale back in May of this year. Given its attractive offering, many analysts believe that the price could reach as high as $1.00 by the time the pre-sale phase ends.
Website: https://chronoly.io/
Telegram: https://t.me/Chronolyio
Presale: https://presale.chronoly.io/register
Twitter: https://twitter.com/Chronolyio
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
