Bitcoin rises after snapping longest ever losing streak as investors seek a market bottom

A young woman walks past a Bitcoin symbol in the window of a company that offers blockchain application services.rose over the weekend as cryptocurrency investors continue to look for a bottom following a rough six months of selling.EtherCrypto continues to move in tandem with stocks. Futures tied to major stock averages were all higher on Monday morning too.

"Token prices fell 27% in May, following a 20% decline in April," said Kenneth Worthington, a JPMorgan research analyst, in a note Monday. "The already challenged April environment was exacerbated in May by thethat drove a combination of forced selling and uncertainty to negatively impact the broader cryptoecosystem. While trading volume appears somewhat higher in May from a depressed April, nearly all the other gauges of growth declined this past month.

Last week bitcoin and ether both turned green for their first positive week in nine, according to Coin Metrics. That was the longest running losing streak ever for the cryptocurrencies.

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Bitcoin at $30K Heading for First Green Week After 9 in Red (Market Watch)Bitcoin is on the verge of marking its first weekly green candle in roughly two months, thus breaking its longest negative streak.
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