Why is Bitcoin crashing? And why is Chronoly (CRNO) rising? We explain

Prudent traders and investors claim crypto is the most volatile market globally. One day you are at the peak, and the other day you are at a depth of the ground. There are many reasons for the cryptocurrency crash and its rise. The traders analyse the price action based on fundamental and technical analysis. For example, Bitcoin (BTC), the world’s leading cryptocurrency, crashed in May 2022. Crypto experts predicted the fall earlier, while many were on the verge of believing that it would cross the $100,000 mark in the first quarter of 2022.

On the other hand, some new cryptos have also been launched and are gaining attention for uniqueness and great use cases. Chronoly (CRNO) is one of them. So let’s explore the reasons for the fall of Bitcoin (BTC) and the rise of Chronoly (CRNO) in this article:

Why is Bitcoin crashing?

Bitcoin (BTC), the world’s largest cryptocurrency, is still under heavy selling pressure. The BTC market has traded lower for eight weeks in a row, making it the longest “continuous string of red weekly candles in history,” according to Glassnode statistics.

Furthermore, a glance at the Bitcoin (BTC) derivatives market indicates the danger of a more significant downside in the next three to six months. In its recent report, on-chain analytics company Glassnode explains that the Bitcoin options market continues to price in near-term uncertainty.

The following are the reasons why Bitcoin crashed:

• BTC investors are taking on too much leverage.
• Lack of liquidity in cryptocurrency markets.
• Bitcoin regulation issues.
• BTC security breaches cause fear.
• BTC influencers are causing volatility.
• BTC correlations with the stock market.

Why is Chronoly (CRNO) rising?

Chronoly (CRNO) bucks the trend when the crypto market declines and moves upwards. There are many reasons for the rise of Chronoly (CRNO):

• It is a real utility-based token.
• It promotes digital authentication, fractional ownership, improved liquidity, alternative asset creation, and community.
• It is aligned with the Metaverse.
• It is extended to the NFT world and is backed by real-world watches.
• Fractionalisation
• Assets are NFT-backed.
• Verification through blockchain.
• Oracle is publicly assessable

Chronoly (CRNO) is the world’s first fractional watch investment platform, enabling investors to start investing from meager of funds. You can invest in the most significant untapped niche of expensive branded watches through the platform. These watches are worth millions of dollars, and the whole industry is equivalent to the revenue of a small country.

Chronoly (CRNO)‘s marketplace platform is based on the Ethereum (ETH) blockchain and will include multi-chain capabilities in stage 2 of development. Users may trade fractional NFTs of watches in the same way they would trade stocks. In addition, the platform allows users to borrow against their holdings. It includes decentralised functionality that enables them to keep NFTs in their Chronoly (CRNO) wallet or any third-party ERC-20 compatible wallet.

Chronoly (CRNO)‘s presale price of $0.01 has increased over 200% during the presale and is now at $0.033. Crypto analysts worldwide estimate a gain of more than 5000% on release day.
Presale: https://presale.chronoly.io/register
Website: https://chronoly.io/
Telegram: https://linktr.ee/chronolyio
Twitter: https://twitter.com/Chronolyio