Bitcoin to Leu: track BTC to RON chart live and trade it with CFDs
The BTC to RON crypto-to-fiat pair is a match between the world’s first successful digital currency, Bitcoin, which serves as the base, and the Romanian Leu, which is the counter currency of BTC/RON. The value of this pair indicates how many Bitcoins it will take to purchase one Leu.
Romania’s economy is not as large as France or Spain’s economy, but it is still an important player on the continent and it is considered to be the 40th largest economy in the world.
The European Commission is forecasting a 3.8 per cent growth in Romania’s GDP for 2020 and a mild inflation rate of approximately 3.4 per cent. The country’s most important economic activities include manufacturing, technology, and chemicals.
The Romanian Leu has been the country’s official currency since the 1860s, even though it has gone through four different reforms. In 2005 the fourth version of the Leu was released by dividing all former currency amounts by 10,000. Even though the Leu is not a popular European currency, it still gets attention as Romania is an important economy in Central Europe.
The strength of Romania’s economy could fuel the demand for this currency, as it continues to gain territory in the global economic landscape.
Bitcoin has disrupted the financial markets since the cryptocurrency started trading at various exchanges in 2008/9. It has significantly increased its value over time, providing huge returns for those who stepped in during the early days. That said, Bitcoin continues to attract the interest of traders around the world as many believe that the digital currency will continue shifting traditional paradigms and ultimately result in a higher demand for BTC.
Bitcoin’s underlying technology, the blockchain, has boosted its credibility as it relies on decentralised distributed ledgers to accurately record and verify every single transaction made with the help of ‘miners’ around the world.
In this sense, the combination of a popular crypto token such as Bitcoin and the official currency of an important European country makes BTC/RON a crypto-to-fiat pair to watch. The evolution of the Romanian economy coupled with the widespread adoption of BTC as both a payment method and financial asset certainly makes for an interesting combination.
Through contracts for difference (CFDs), traders can speculate on the BTC/RON pair’s fluctuations, taking either long or short positions.
The limited liquidity of BTC to RON can be used as an advantage during an event that triggers the demand for BTC/RON as traders may be able to secure lower or higher prices as a result of wider spreads.
Capital.com’s trading platform provides streaming price charts of BTC/RON to enable traders to analyse potential price patterns and trading signals they can profit from by taking long or short positions on this crypto-to-fiat pair.