Exhibit A: Looking at the charts, we can see how this could be considered a "bottom".
I) The bottom corresponds to the "low" before the great run to ~20k.
II): Before we can call a bottom, one always has to wait for the "second" bottom, which has to be higher than the first. The first bottom was hit the week of June 16th @ 5750, the second, the week of August 12th @ 5880. This is precisely what we see happening here: https://www.tradingview.com/chart/BTCUS