Data from Coin360 and Cointelegraph Markets showed BTC/USD trading above the $9,000 mark for a third day on Saturday.
At press time, the pair was circling $9,130, having stayed within a narrow corridor since it originally exited the $8,000 range on March 5.
Having beaten expectations, Bitcoin appeared an increasingly safe bet as the week drew to close.
At first, stock markets bore the brunt of the impact from the ongoing spread of coronavirus — the Dow Jones shed 1,000 points in one day on Wednesday, erasing gains that it made after a historic fall the previous week.
After central banks reacted to the panic, however, it was national fiat currencies that suffered from the fallout. As Cointelegraph reported, rate decreases and oil output wars saw major and developing currencies alike hemorrhage value.
Bitcoin meanwhile had been tipped to make further gains to hit $9,400. Zooming out, analysts said they expect the cryptocurrency’s bull run to intensify prior to May’s block reward halving event.
This week, veteran trader Tone Vays described the chances of BTC/USD trading higher before then as “very likely.”
“In 2017 everyone was calling for $10k #bitcoin,” Cointelegraph Markets analyst Keith Wareing summarized in a tweet describing the current mood among market participants.
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