This Strange Occurrence Suggests the Bitcoin Bottom is In

Bitcoin’s unprecedented flash crash seen earlier this week has not proved to be as bearish as it was initially thought to be, as the crypto has now been able to find some solid support within the mid-$9,000 region and has even begun inching higher.

It is important to note that while bulls have been able to absorb the intense selling pressure that resulted from this flash crash, they have yet to be able to propel the crypto back above $10,000, which remains a key short-term resistance region.

Now, one economist is noting that a strange occurrence seen while looking towards the crypto’s BitMEX / Bitstamp cost basis seems to suggest that its bottom may be in, and that its next major uptrend will soon kick off.

Bitcoin Gains Stability as Economist Notes That the Bottom May Be In

At the time of writing, Bitcoin is trading up just under 1% at its current price of $9,690, which marks a notable climb from its weekly lows of $9,200 that were set at the bottom of the flash crash seen this…