Bitcoin Unlikely to Break Below $50K, Trader Awaits October FOMO Event

According to BlockBeats, on July 20, Doctor Profit (@DrProfitCrypto) stated that Bitcoin is unlikely to break below $50,000, citing that widespread expectations of a bottom in September-October will create a contrarian signal. The Swiss-based trader, who has nearly 500,000 followers on X, has deployed his short profits to accumulate Bitcoin at approximately $64,000 and plans to invest 5% daily in the $54,000-$64,000 range while maintaining a 4:1 BTC-to-ETH ratio.

Doctor Profit highlighted upcoming institutional catalysts including BlackRock's tokenization platform launching in October and potential regulatory clarity legislation in August, which could trigger early FOMO and price appreciation. He recently closed all Bitcoin and over 100 altcoin short positions to transition to spot accumulation.