Bitcoin surges 10% after analyst says bear-market bottom may still lie ahead

Bitcoin rose about 10% in a single day on Aug. 20, briefly breaking above $70,000 for its highest level since early June and triggering the largest short-liquidation wave since 2021, with more than $1 billion in short positions liquidated in one hour. The move came a day after a recorded interview in which Rob, founder and host of Digital Asset News, said he hoped the market had not yet bottomed and that a four-year-cycle low could arrive around October at $55,000, $50,000 or even $45,000. Rob has been in crypto since 2017 and publicly practices DCA (dollar-cost averaging), increasing purchases as Bitcoin falls by using risk levels from Ben Cowen's Into The Crypto Verse website. He views the 200-week moving average as a historically attractive buying zone. The discussion also covered the CLARITY Act, a White House meeting with crypto executives, the SEC's Regulation Crypto framework, renewed ICO activity, diversification of self-custody after cold-wallet incidents, stablecoins, selected blockchain networks, tokenization and AI-agent payments. Rob said his short-term forecast could be wrong, but emphasized investing discipline over precise market timing: buying more during deeper declines, taking profits in stages and treating missed selling opportunities as tuition.

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