Analyst forecasts Bitcoin drop to $50k–$44k by October

Doctor Profit maps the next moves for Bitcoin after the drop below $70,000. He sees a range first, then a deeper test later.

Headline: Doctor Profit sees Bitcoin in $57k–$87k range, risk of $50k–$44k by Sep–Oct

In an X post, the analyst expects Bitcoin to trade sideways between $57,000 and $87,000. He calls it preparation for the next few months, not a bullish phase.

He warns BTC could revisit $50,000–$44,000 in the coming months, while price action mirrors 2022: a 52% drawdown from ATH, a 44% rebound, then another leg lower. He expects an upside rally first, then a drop below $60,000, following the same fractal path.

He cites market psychology. The fear and greed index is at extreme fear, which supports a relief bounce now.

Resistance at $70,000 remains heavy. BTC spiked to $71,000, then slipped under $70,000 after reports of potential Iranian naval mines in the Strait of Hormuz, amid oil volatility and war headlines here.

Key levels and timing:
- He sees $57,000–$60,000 as a local bottom that may get multiple tests ahead.
- He plans the “serious size” re-entry in the $50,000 to low-$40,000 area, which he views as the macro bottom zone personally.
- He expects the $50,000–$40,000 test between September and October, with a “long and boring” range until then this year.

Price now hovers near $69,800 over 24 hours, per CoinMarketCap data.