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[NEWS BLOG]: Analyst Who Called Bitcoin’s Brutal Crash to $7,500 Thinks This is Next

It’s not a secret that Bitcoin hasn’t done well over the past few days and weeks; since the weekend’s $9,200 peak, the cryptocurrency has lost nearly 18%, and since the $10,600 peak in February, BTC has shed over 25%. In the process of this brutal move, hundreds of millions worth of leveraged positions have been liquidated.

Furthermore, with a harrowing macro outlook and Bitcoin seemingly becoming correlated with the stock market, some have been wondering if BTC could enter back into a bear market. One analyst, in fact, warned of a potential return to $4,000.

Despite these fears, many are staying - read more.


OTHER RELATED NEWS

Messaging Giant LINE Wins Japan License for Crypto Exchange Business

LINE, provider of Japan’s most popular messaging app, has just been approved for a cryptocurrency business license in the country.

The news, reported by CoinDesk Japan on Friday, means it will be able to offer its crypto exchange services in Japan where it has 80 million monthly active users. The new platform is to be called BitBox, according to the company.

The license was awarded by Japan’s Financial Services Agency, which indicated on its website that the registration was completed on Sept. 6 in the name of LVC Corp., which oversees LINE’s digital asset and blockchain business units.

LINE President Takeshi Dezawa also disclosed completed FSA - read more.

Former Giant YouTuber Michelle Phan is Now a Bitcoin Evangelist

After leaving YouTube at the height of her channel in 2015, one of YouTube’s earliest creators and most famous beauty stars, Michelle Phan, picked up cryptocurrencies as one of her most stimulating interests, finding her discovery of Bitcoin more exciting than that of YouTube.

Feeling burnt-out, but also thinking that she'd accomplished all that she wanted to on YouTube since she started her beauty channel in 2007, the 32-year-old American makeup artist, entrepreneur, author, and voice actress decided that the highest point of the channel was the best to walk away, she told The Cut.

While Phan still has an interest in beauty and - read more.

Statistics: Bitcoin Will Tumble to $6,000, Maybe Lower, If Bears Take Control Now

Despite the tepid price action over the past two days, Bitcoin has been on a remarkable rally over the past five weeks.

As this outlet reported recently, the cryptocurrency has done so well that as of Monday morning, BTC had printed five — yes, five — green weekly candles in a row for the first time since 2019’s small bull run, as analyst JofDom noted. The candles represent a rally of nearly 100%.

This is a stunning rally that has had analysts wanting more upside. For instance, a trader published the below chart, showing that there are remarkable similarities between the bottom - read more.

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