Why is the BTC to NZD pair important to traders?
BTC to NZD is a very popular crypto-to-fiat pair. Since its inception in 2009, Bitcoin – the base currency of this pair – has proved to be the world’s top cryptocurrency in terms of market capitalisation and value. The pair’s counter currency – NZD – is the official national currency of New Zealand. The NZD is also unofficially used in Fiji, New Caledonia, Samoa, Tonga and Zimbabwe.
The crypto market, including Bitcoin, is extremely volatile, which provides huge potential for speculation. Observing the popularity of BTC to NZD exchange transactions, there are immense opportunities for traders to profit from the pair’s trade.
BTC to NZD trading: the ultimate way to invest in Bitcoin
Although the volume of the BTC to NZD crypto-to-fiat pair is much lower than BTC to USD, Bitcoin to NZD trading is steadily growing. The ultra-volatile nature of BTC/NZD makes it a strong alternative to traditional Forex markets.
Bitcoin traders can always profit from BTC price swings. You can either go long or short, depending on Bitcoin to NZD price movement, and benefit from the price difference.
Proven to be a lucrative investment, Bitcoin consolidates its position as the world's top cryptocurrency. With a remarkably strong start of 2020, investors share a bullish view on Bitcoin price future. Convert BTC to NZD at Currency.com and trade it with 100x leverage and tight spread.
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Developed in 2009, Bitcoin introduced a new type of digital currency to the world gradually gaining worldwide popularity. Today, it is the most popular and valuable cryptocurrency on earth, serving as the gold standard for emerging cryptos.
Due to its decentralised nature, BTC transactions do not require a middleman, meaning no banks or other authorities are involved. In addition to being an alternative payment network and a store of value, Bitcoin offers great opportunities to traders.
Key facts about BTC
The first decentralised cryptocurrency
Launched in 2009
The brainchild of a person or group known as Satoshi Nakamoto
The maximum number of Bitcoins is 21 million
80% of all Bitcoins have already been mined
Bitcoin is considered both a commodity and a currency
The first BTC transaction was to buy 2 pizzas
In April 2010, when Bitcoin was launched at the first cryptocurrency exchange BitcoinMarket.com, its price was $0.0025 (NZ$0.0039). Shortly after, the BTC price rate started to surge dramatically, generating more than a thousand per cent earnings to its initial owners.
As the cryptocurrency is not tied to any particular country or region, domestic and geopolitical factors can have less of an impact on the value of Bitcoin. Instead, you should keep an eye on its demand, adoption rates, regulations and market sentiment.
Bitcoin price chart shows BTC/NZD price rate in real-time. Analysts expect 2020 to be an important year for Bitcoin, making positive forecasts regarding the Bitcoin to NZD price.
In the Bitcoin to New Zealand dollar pair, BTC is the base currency and the NZD is the counter currency, which means the BTC/NZD chart shows how much one Bitcoin is worth as measured against the New Zealand dollar.
New Zealand boasts of an industrialised free-market economy powered by a highly friendly regulatory environment. The industrialisation has enabled the country to increase production and expand its exports to new markets in South East Asia. Likewise, the favourable business environment continues to attract foreign direct investments mostly from the US, Europe, and Asia.
The positive investor sentiment is reflected in its steadily growing capital markets. Trading Economics further reports that foreign direct investments in the New Zealand stock market reached an all-time high in the second quarter of 2019.
Considered a risk-correlated currency, the New Zealand dollar is exposed to the world’s economic performance and has relatively high interest rates. According to analysts at TD Securities, the NZD is the most undervalued in G10 currencies. Consequently, it is bound to make exports more profitable hence attracting more foreign direct investments.
Those interested in the BTC/NZD pair trading should keep a close watch of crypto market news and the Reserve Bank of New Zealand releases regarding interest rates and monetary policy changes.