Bitcoin’s Price Snaps Longest Monthly Losing Streak Since 2016

Bitcoin’s price posted gains in the first month of the third quarter, snapping the longest losing streak it’s seen in nearly two years. The world’s largest cryptocurrency by market capitalization rose 20 percent in July, having registered losses in the previous two months – the first instance of back-to-back monthly drops since August 2016. At press time, bitcoin (BTC) is trading at $7,580, according to CoinDesk’s Bitcoin Price Index (BPI). At first instance, the rally seen in July may appear corrective in nature as BTC was looking oversold at the…