Why Bitcoin Was Bumping Higher on Monday
The apparent U.S.-Iran framework document to end the war lit a fire under relatively high-risk investments.
Why Bitcoin Was Bumping Higher on Monday
Overview
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.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
