BTC/CAD exchange rate shows how bitcoin and the Canadian dollar correlate on the Forex market. This pair is popular among traders and investors not only in Canada, but also outside the country. The high volatility of bitcoin creates great potential for trade speculation, and the Canadian dollar is the seventh most popular of all traded currencies in the world. Traders who use this pair additionally diversify their portfolios.
BTC/CAD is lower in terms of trading volume than the more traditional bitcoin-US dollar pair, but it has seen quite a significant growth in recent years. Profit from the price difference is stable, and you can open both long and short positions. Converting BTC to CAD and back does not cause any difficulties.
This currency pair belongs to the secondary category, but it is quite active. It is usually used for simple transactions. The BTC/CAD rate is highly dependent on the trade balance in Canada: if it is increasing, then the rate of Canadian dollar is also increasing. If it seldom shows growth in pair with US dollar, then with bitcoin, we are not surprised. At the same time, the dynamics of this pair is rarely sharp, which makes it an excellent solution for long-term investments.
Trading in the pair BTC/CAD on the Forex market is gradually gaining momentum. The Canadian dollar is one of the most stable fiat currencies, while bitcoin fluctuates widely enough, which creates room for trading - usually an experienced trader can predict the rate.
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