The BTC/NOK is a combination of the Bitcoin (cryptocurrency) and the Norwegian krone, NOK (fiat currency). The Bitcoin to NOK is composed of the most popular crypto as a base currency and one of the top-20 currencies in terms of the foreign exchange market turnover, according to the Triennial Central Bank Survey. Given the popularity of the Bitcoin to NOK pair, traders can enjoy high liquidity.
The historical BTC to NOK exchange rate shows that there is an upward trend and also this pair provides numerous trading opportunities thanks to the continuous occurrence of retracements. Namely, BTC to NOK has an adequate level of volatility which can result in some attractive profits for different types of traders. The pair can be a viable choice for day traders, swing traders and position traders because its price can fluctuate multiple percentages within a short or more extended period.
Since its introduction in 2008, the Bitcoin had a significant impact on the financial markets and on trading. Despite the scepticism related to BTC in the early years, it is now one of the most actively traded cryptocurrencies in the world. Bitcoin is a base or quoted currency in tens of currency pairs with a daily trading volume reaching tens of billions of pounds.
The supply and demand for Bitcoins have a major influence on its price. The cost for mining Bitcoins also affects the value of BTC, in a way that higher costs would imply that BTC value should increase or mining would be unprofitable. The number and strength of competitive cryptocurrencies and the number of currency exchanges which quote the BTC can positively or negatively impact BTC value. Moreover, different regulations and legal issues can affect the value as it was evident in the past.
Norwegian krona or NOK is the official currency of Norway and it was introduced in 1875 when Norway became part of the Scandinavian Monetary Union. The Central Bank of Norway ensures the stability of NOK and uses relevant monetary instruments to maintain a stable currency.
The NOK value is under the influence of different factors such as demand and supply, the level of economic activity and other relevant fundamentals. The Norwegian krone is also affected by country-specific things such as the oil price because the export of crude oil may take more than half of the overall exports. Another specific factor that impacts NOK is the value of other European currencies. Norway exports the majority of crude oil to countries in Europe, which is one of the reasons why other currencies and NOK are connected.
Access to 70+ technical indicators and analysis tools, powerful charts, real-time price alerts and notifications.
Seamlessly fund your account and withdraw fiat with your credit card, bank transfer or a crypto wallet.
Stop paying more to trade BTC. Start with as little as 0.002 BTC and enjoy the power of up to 100x leverage.
Instantly buy tokenised assets with Bitcoin and at competitive prices. Store your holdings safe and transfer with ease.
Manage your risk with guaranteed stop-loss and take-profit orders. Never lose more than you put in.
Trade the global financial markets using Bitcoin or Ethereum.
Authorised by the High Technology Park of Belarus, the European blockchain regulator, the safety of your holdings is guaranteed.
Keep an eye on your positions with over 75 advanced charts, price analysis and price alerts.
Use stop-loss and take-profit orders to keep what you earn.
Use the world’s first regulated tokenised assets exchange to build a diverse investment portfolio with your crypto holdings. Make your deposits in Bitcoin or Ethereum to trade global financial instruments with competitive leverage and tight spreads. Currency.com keeps your holdings secure and accessible at a glance.