Bitcoin (BTC) continued beating out any competition on March vii, turning $9,000 into solid support while coronavirus ravaged stocks and forex alike.

Cryptocurrency market daily overview

Cryptocurrency market daily overview. Source: Coin360

BTC price makes solid support out of $9,000

Data from Coin360 and Cointelegraph Markets showed BTC/USD trading higher up 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 information technology originally exited the $eight,000 range on March 5.

Bitcoin 1-day price chart

Bitcoin 1-solar day price nautical chart. Source: Coin360

Having browbeaten expectations, Bitcoin appeared an increasingly safe bet equally the week drew to close. Traditional markets, fresh from serious losses, remained volatile on Friday.

At first, stock markets bore the brunt of the impact from the ongoing spread of coronavirus — the Dow Jones shed ane,000 points in i day on Wed, erasing gains that it made after a historic fall the previous week.

After cardinal banks reacted to the panic, all the same, it was national fiat currencies that suffered from the fallout. Equally Cointelegraph reported, charge per unit decreases and oil output wars saw major and developing currencies akin hemorrhage value.

The Brazilian real, the worst performer overall, traded at its everyman level ever against the U.S. dollar on Friday.

Analysts count down pre-halving bull run

Bitcoin meanwhile had been tipped to make farther gains to hit $9,400. Zooming out, analysts said they expect the cryptocurrency's bull run to intensify prior to May'south block reward halving outcome.

This week, veteran trader Tone Vays described the chances of BTC/USD trading college before then every bit "very likely."

"In 2022 anybody was calling for $10k #bitcoin," Cointelegraph Markets analyst Keith Wareing summarized in a tweet describing the electric current mood among market participants.

"When it finally hit, information technology took just 20 days to reach $20k At present in 2022 many are calling for $100k #bitcoin."

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