Bitcoin to Hungarian Forint: trade BTC to HUF pair and track its real-time price.
The Bitcoin to Hungarian Forint pair features the world’s most popular cryptocurrency, Bitcoin, as the base, and Hungary’s official currency, the Hungarian Forint (HUF) as the counter.
The Hungarian Forint was introduced after the World War II in an effort to stabilise the country’s torn economy. It is not among the most popular currencies in the world but it still plays a key role in commercial transactions with this European country as Hungary has not yet adopted the Euro.
The liquidity of BTC to HUF is decent, even though the pair is not among the most popular crypto-to-fiat pairs. Traders can benefit from this reduced liquidity by anticipating potential changes in the fundamentals of both Bitcoin and the Hungarian Forint, taking long or short positions depending on the direction of the forecasted price movement.
The illiquidity of BTC/HUF may expand the ultimate gains generated by traders, even though the cost of each transaction may be higher due to higher bid-ask spreads.
The value of Bitcoin is generally moved by the perception of the investment community regarding the widespread adoption of this cryptocurrency as both a payment method and a popular financial asset, while the Hungarian Forint’s value is mainly driven by the country’s political and economic situation, the monetary policy of Hungary’s Central Bank, and the country’s commercial relationships.
CFDs are used by traders to take long or short positions on BTC/HUF, with the possibility of boosting the results of their operations by using leverage.
The introduction of Bitcoin to the global financial stage back in 2009 changed the way people viewed digital currencies, by presenting a strong alternative to regular fiat currencies.
Bitcoin relies on blockchain to guarantee the transparency of the transactions conducted with this cryptocurrency through what’s known as a distributed decentralised ledger that allows third parties to validate any entries made to the ledger to avoid the loss of information or inaccurately recorded transactions.
This cryptocurrency has evolved to become a major player in the investment world, allowing traders and investment managers to diversify their portfolios by using an alternative financial asset such as Bitcoin.
The modern Forint was adopted as Hungary’s official currency in 1964, as a result of hyperinflation that forced the country to leave behind its previous currencies. The nation’s political and economic approach drove the value of the Forint in the international market down, even though certain reforms that pushed Hungary to become a free market economy ultimately helped in stabilising its value over time.
The Forint has been losing value against the US dollar and the Euro progressively during last year and traders can use this information to anticipate potential price swings in BTC/HUF.
Capital.com provides a real-time price chart of the BTC to HUF pair and traders can enter both long or short positions by using our CFDs to profit from BTC/HUF directional price swings.