Canadian bitcoin value

Bitcoin to Canadian dollar: track BTC to CAD chart live and trade it with CFDs

The BTC to CAD crypto-to-fiat currency pair matches the world’s most popular cryptocurrency Bitcoin with the 7th most widely-traded fiat currency in the world

– the Canadian dollar. The pairing represents how many Canadian dollars — which is the quote currency — are needed to buy one bitcoin — the base currency.

A decade on from its launch, BTC is the largest and most valuable cryptocurrency in the world in terms of market capitalisation and cost. However, it remains highly volatile, providing traders with strong potential for speculation. 

For that, many fiat currencies are used to acquire this digital coin with much of the activity happening in the North American markets. The ultra-volatile nature of BTC/CAD backed by the ever-fluctuating crypto industry makes it a strong alternative to traditional Forex markets.

Witnessing the rapidly growing acceptance of digital money worldwide and in Canada in particular, the trading interest in the BTC/CAD pair is very likely to grow significantly in the foreseeable future. Increased number of BTC to CAD transactions offers traders additional diversification to their portfolio and substantial opportunities for profit.

Today, Bitcoin keeps its strong position at the forefront of the industry, serving as the gold standard for emerging projects. With a remarkably strong start of 2020, investors share a bullish view on the Bitcoin price future.

Due to its decentralised nature, BTC transactions do not require a middleman, meaning no banks or other authorities are involved. 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.

Often referred to as ‘Loonie’, the Canadian dollar strongly depends on the price of crude oil, as the country is one of the major commodity exporters. Canada takes a leading place in the global supply chain, which makes it highly sensitive to changes in the worldwide economic activity. 

CAD rates are deeply connected with the United States – Canadian closest and largest trading partner. The US accounts for 80 per cent of all Canadian exports.

With Contracts for difference you can profit from both negative and positive Bitcoin to Canadian dollar price swings. You can either go short or long, depending on the BTC/CAD rate movement, and benefit from the price difference. 

To better understand what affects the BTC/CAD rate and make thorough trading decision, you should keep a close watch not only of crypto market news, but also consider the interest rate decisions, made by the Bank of Canada (BoC). 

Follow the BTC to CAD rate live and trade this popular crypto-to-fiat currency pair at Capital.com enjoying market-leading spreads and high leverage.