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Why Bitcoin Was Bumping Higher on Monday

TheMotleyFool

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Why Bitcoin Was Bumping Higher on Monday: https://g.foolcdn.com/editorial/images/874774/bitcoins-depicted-as-if-real-and-material-currency.jpg

A sharp, sudden decrease in geopolitical tension was helping Bitcoin (CRYPTO: BTC) rise in price over the weekend. From Friday at 4 p.m. ET to late Monday afternoon, the bellwether cryptocurrency was up by more than 4%.

Since cryptocurrencies are on the far side of the investment risk scale, they tend to be sold during times of uncertainty. This was very much evident throughout the Iran war, when crypto rallies were few and far between.

Image source: Getty Images.

Source Fool.com

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