Place/Date: - June 16th, 2022 at 11:22 am UTC · 3 min read
If a market drops more than 20% from its top, it’s considered a bear market. There are three stages to bear markets: sharp downfall, a reflexive comeback and long-term fundamental downturn. Wall Street veteran Bob Farrell, who integrated technical research with numerous measurements of investor moods came up with this model. In this post, we take a look at a well established crypto token that is having a bearish time and another token, Chronoly (CRNO) that is experiencing significant gains.
An early bearish reversal pattern in Aave (AAVE price) indicates that the recent rise in the stock is showing signs of fatigue.
A “rising wedge” pattern emerges when the price rises inside a range represented by two ascending converging trendlines. A reduction in trading volume indicates a lack of confidence among traders. The ongoing link between crypto and US equities markets has led to a bearish situation for AAVE. As of May 17, the AAVE/Nasdaq 100 correlation coefficient was 0.91, indicating that the two markets had been moving in near-perfect harmony.
Chronoly (CRNO) which is now in phase two of its presale has experienced significant gains since launching just over 4 weeks ago. Seeing the price increase in value from $0.01 to $0.05 in such a short period of time, some top crypto analysts are predicting by the conclusion of presale the price could rise a further 2,500% from its current rate.
The project provides investors with the option to make investments in rare, luxury and exclusive timepieces crafted by eminent watchmakers of the caliber of Rolex and Patek Philippe amongst other top luxury brands. After the most recent crypto bear market, it is crucial for investors to remember that timepieces have established themselves as a dependable investment class over the course of several decades. Furthermore, after the issues with the Terra stablecoin, investors are looking for confidence and security, and Chronoly (CRNO) can supply both of those things as its NFT’s are minted against the real watch itself. Unlike a ‘stablecoin’ this can not crash in value overnight.
Chronoly (CRNO) is able to provide traditional investors the best of both worlds by providing a blockchain marketplace that specializes in time-tested assets. This is because many traditional investors are hesitant to get their feet wet in the digital asset market.
Many investors will be interested in the opportunity to acquire a stake in luxury watches without having to deal with the hassles of dealing with customs, shipping or physical storage of the items. Chronoly (CRNO) addresses the issue of an illiquid market in watches as another one of its solutions. In the past, vendors needed the assistance of dealers or auction houses in order to sell their wares; however, there will soon be a bustling marketplace for the purchase of these goods.
Investors can purchase a F-NFT (fraction of the watch) for as little as $10 giving a chance for the first time to users who want to invest their funds in appreciating watches but don’t have the money to purchase one outright which can often be above $100,000.
This is a golden opportunity to get involved with the presale. Our pick of the month for top crypto investment goes to Chronoly.