Why Bitcoin Sailed Higher on Sunday

All in all, cryptocurrencies had a good weekend, headed by the No. 1 crypto bellwether Bitcoin (CRYPTO: BTC). In mid-afternoon trading on Sunday, the token that launched thousands of other cryptos was up by nearly 5% across the previous 24 hours. That was on the back of several news items that were generally good for Bitcoin individually, and cryptocurrencies in general.

Many investors are shedding the caution brought on by the war in Ukraine and its immediate economic after-effects, most notably a spike in oil prices. Such events tend to make many people nervous. When investors are nervous they tend to bail out of speculative assets and buy ones considered safer.

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Source Fool.com