Bitcoin to Krona: trade BTC to NOK pair and track its real-time price.
The Bitcoin to Krona pair is a popular cryptocurrency-to-fiat pair that tracks the relationship between Bitcoin (BTC), the most popular cryptocurrency in the world, and the Norwegian krone (NOK), which has been the official currency of Norway since 1875.
The Norwegian krone is among the top 20 most traded currencies in the world and Norway is considered to be the 29th largest economy in the world by GDP and one of Europe’s wealthier countries based on its GDP per capita and other economic indicators.
The BTC to NOK is a popular crypto-to-fiat pair that enjoys decent liquidity as both currencies are important players in their markets. Bitcoin, on the one hand, is by far the most important cryptocurrency in the world with a market capitalisation that exceeds $100 billion, while the krone is a strong European currency that attracts the interest of both institutional and retail investors and traders.
Traders can profit from trading BTC/NOK by analysing the fundamentals that drive the price of both the base and counter currency. Bitcoin’s most powerful drivers include the degree in which the currency is adopted as a mainstream payment method, along with its adoption as a suitable financial asset.
Meanwhile, the price of the Norwegian krone (NOK) is mainly influenced by global capital influxes and monetary policy decisions of the Norges Bank, which is Norway’s central bank.
CFDs can be conveniently used to trade BTC to NOK pairs and traders can benefit from using leveraged positions to further expand the potential profitability of their long and short positions.
Bitcoin is the world’s leading cryptocurrency. After being introduced in 2009 as a potential paradigm shift away from traditional government-controlled currencies. Ever since then, BTC and its underlying blockchain technology have disrupted the financial world by creating not just an alternative payment method, but also a new asset class.
Bitcoin investors have been bullish on BTC’s potential long-term price appreciation, as the cryptocurrency is constantly being adopted by brick-and-mortar businesses as a payment alternative. BTC has also gained the attention of major banks and investment funds around the world, who are now considering cryptocurrencies as an appealing financial asset to diversify their investment portfolios.
The Norwegian krone has been the official currency of Norway for more than 100 years and since 1992 the price of NOK has been released from all pegs to float freely, attracting the attention of numerous traders since then.
Additionally, the Norwegian krone shows a relative stable price trend vs. the US dollar and the Euro over the last 24 months, ranging from $7.5 to $9 per krone and €9 to €10 per krone.
Traders can benefit from BTC/NOK price swings by taking long or short positions on this crypto-to-fiat pair using Capital.com’s proprietary trading platform which features a real-time price chart and charges a 0% commission on trades.