Analyst: The ratio of Bitcoin to VIX has reached the long-term trend line, which may indicate a bottom for Bitcoin

ChainCatcher news, according to CoinDesk senior analyst James Van Straten, the S&P volatility index surged to its highest level since August of last year this morning, indicating an increase in market uncertainty.

James also stated that the ratio of Bitcoin to VIX has reached the long-term trend line, which historically has marked the bottom for Bitcoin during significant market events, followed by a price rebound.