Bitcoin to New Zealand Dollar Exchange Rate

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Historical Rate chart of BTC and NZD

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Bitcoin was worth eight cents in 2010, but today it’s worth thousands. Spending about $7 on bitcoin in 2010 could mean you’re a millionaire now. But bitcoin’s value doesn’t always go up. Imagine if you had bought a thousand bitcoin in late 2013 — when the cryptocurrency was worth more than $1,100 a pop — and then watched its value plummet below $200 in just over a year. It’s tough to predict exactly how much bitcoin will be worth in the future. Let’s explore how bitcoin has grown over the years and where it might be headed.


What to consider before buying bitcoin

Bitcoin hit a new high of over NZD$14,000 in November 2017.

However, it’s a notoriously volatile currency, and it’s difficult to know what bitcoin will be worth a week – let alone a year – from now. To have a shot at predicting the price you need to know how the cryptocurrency is bought and sold, and what factors affect the price of bitcoin.

However, there might be two factors to consider above all others.

First, only 21 million bitcoin will ever be created. Throughout 2017, the number of bitcoin in circulation increased from about 16 million to 17 million, but it will slow down as it gets closer to the 21 million limit. The final bitcoin isn’t due to be mined until the year 2140.

This finite supply, and its popularity increasing more quickly than its availability, is believed to be the reason bitcoin’s prices keep increasing.

Second, it’s important to remember that bitcoin is now just one cryptocurrency among hundreds. Although it’s the most valuable, bitcoin’s overall cryptocurrency “market share” is declining. Competing cryptocurrencies can offer some features that bitcoin can’t, and many people think another currency will eventually overtake bitcoin.

Bitcoin mining: Is it worth mining bitcoin?

Many bitcoin proponents speculate that its limited supply will only increase the value of the cryptocurrency in the long run and is its greatest strength. But critics say that this will be its undoing.

They point out that inherent scarcity is a useful way of controlling value, but might be too impractical for bitcoin to ever become the standard global currency.

To judge for yourself whether it’s worth buying bitcoin, you may want to look at the history of its ups and downs to better understand the factors affecting its value.

Compare bitcoin marketplaces

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Easy Crypto Cryptocurrency Exchange
Bank transfer, POLi
NZD

151
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Based in New Zealand, Easy Crypto enables users to simply pay in NZD through POLi or bank transfer to access a range of cryptocurrencies.
Independent Reserve Exchange
Cryptocurrency, SWIFT, Osko, PayID, EFT
AUD, NZD, USD

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Deposit NZD and buy or sell BTC, ETH and 20+ other cryptos with trading fees of up to 0.5%.
Changelly Crypto-to-Crypto Exchange
Credit card, Cryptocurrency
USD, GBP, EUR, CAD, MXN, HKD, RUB, NZD, SGD, JPY & 40+ more

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Access competitive crypto-to-crypto exchange rates for 150+ cryptocurrencies on this global exchange.
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

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Buy 200+ cryptocurrencies, earn up to 14.5% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, POLi, Osko, PayID
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Finder Exclusive: Receive $10 BTC on Sign up and Verification.
Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Binance Cryptocurrency Exchange
Bank transfer (ACH)
USD, AUD, GBP, EUR, RUB, TRY, NGN, UAH, PHP, CZK & 20+ more

354
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Finder Exclusive: Get 10% discount on your fees when signing up through Finder.
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
KuCoin Cryptocurrency Exchange
Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

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Finder exclusive: Sign up and use code 1xf56 for one month of VIP 1 benefits. Deposit/transfer more than 0.1 BTC to KuCoin within 7 days of registration for 1 month of VIP 2 benefits. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Gemini Cryptocurrency Exchange
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USD, AUD, CAD, EUR, GBP, SGD, HKD, COP

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Get USD 25 in BTC when you trade USD 100 within 3 days of signing up. T&Cs apply.
Trade bitcoin, Ethereum and more at a US-based exchange where payments can be made in USD.
FTX Cryptocurrency Exchange
FTX Cryptocurrency Exchange
Credit card, Wire transfer, Silvergate Exchange Network (SEN), Signature SIGNET
USD,EUR,GBP,AUD,HKD,SGD,TRY,ZAR,CAD,CHF,BRL

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Sign up through Finder for a 5% discount on all trading fees. T&Cs apply.
FTX is an exchange built by traders for traders, with a range of derivatives markets such as options and futures with deep leverage, in addition to standard spot markets. Note: Not available for US customers.
Gate.io Cryptocurrency Exchange
Cryptocurrency
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Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in GateTokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
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Market rate for common transfer amounts BTC to NZD

Bitcoin (BTC) New Zealand Dollars (NZD)
฿1 0
฿100 0
฿500 0
฿1000 0
฿1500 0
฿2500 0
฿5000 0

Bitcoin is volatile

Bitcoin value can change a lot very quickly. It has a history of sharp ups and downs.

Here are a few things that could affect the price of bitcoin:

  • Government regulation. Although bitcoin is a decentralised currency, it’s still affected by government regulation. For example, when the Chinese government barred financial entities from processing bitcoin transactions in late 2013, the price of bitcoin dropped hundreds of dollars within a few days.
  • The headlines. The price of bitcoin tends to move with major world news and important bitcoin-related events (like security breaches). However, many people speculate that news doesn’t necessarily affect the price one way or another; instead, it simply focuses attention on bitcoin and may increase trading volume.
  • Major buyers. Large organisations and speculators have a significant effect on the price of bitcoin, and some experts estimate that of bitcoin’s approximately $160 billion market, a majority of coins might be owned by relatively few organisations and individuals.

Why is bitcoin’s currency code sometimes BTC and sometimes XBT?

Because bitcoin is a decentralised currency, the standards that dictate how to refer to it are still forming. XBT is the official designation, while BTC is the more commonly used code.

In its earliest days, bitcoin’s currency code was BTC. With its growing acceptance as a legitimate currency, the International Standards Organisation (ISO) designated bitcoin’s notation as “XBT”. If a currency is not associated with a specific country or government, its three-letter note starts with an “X.”

However, XBT has yet to gain much adoption beyond banker and finance types. BTC seems to be what the everyday person and most enthusiasts prefer. You’ll probably continue to see references to both BTC and XBT until one eventually sticks as the standard.


A short history of bitcoin prices

The very first bitcoin transaction took place on January 12, 2009, from creator Satoshi Nakamoto to developer Hal Finney. On October 5, online publication New Liberty Standard pegged the bitcoin exchange rate at 1 USD = 1,309.03 BTC — a calculation based on the cost of electricity for a computer to create bitcoin.

July 2010 saw the founding of Mt Gox, a bitcoin exchange that would eventually grow into the largest player in the market. We’ll start our bitcoin price history in 2011, using figures from CoinDesk’s price index.

Note: Unless otherwise stated, all prices in this article refer to BTC:USD exchange rates.

2011: A false start for bitcoin

StartPeakEnd
$0.30$29.60$6.33

Early in the year, one bitcoin finally became worth as much as one US dollar. In just a few months, the price of bitcoin shot past the $10 mark.

But on June 19 Mt Gox was hacked, causing customers to lose more than 4,000 BTC. Bitcoin’s value hovered around $30 for several days and began a slow descent to around $4 by the end of the year.

2012: Bitcoin rises steadily

StartPeakEnd
$4.99$13.70$13.40

Bitcoin experienced a recovery in 2012. The cryptocurrency didn’t hit the heights of the previous year, but it climbed back into the double digits by the end of the year.

June saw the founding of Coinbase, which is one of the largest bitcoin platforms today. In November, the publishing tool WordPress began accepting bitcoin as payment.

2013: Bitcoin shoots into the stratosphere

StartPeakEnd
$13.30$1,147.25$757.50

In February, bitcoin surpassed its previous all-time high and then abandoned the $30 range as it continued growing in value.

At the same time, Mt Gox was failing as bitcoin transactions overwhelmed its servers. In the same month bitcoin broke the $200 mark. Less than a month after that, it shot past $1,000.

Chinese investment in bitcoin pushed the price of the cryptocurrency even higher. But December also saw the largest theft of bitcoin ever: 96,000 BTC from Sheep Marketplace. This was also the year that China banned its financial institutions from processing bitcoin transactions.

2014: A rough year

StartPeakEnd
$770.44$951.39$319.70

Bitcoin’s price euphoria came to an abrupt end, and the cryptocurrency steadily lost value over a year. Mt Gox finally shuttered its doors. However, Microsoft and PayPal-owned Braintree started accepting bitcoin as payment.

2015: Bitcoin holds steady

StartPeakEnd
$313.92$465.50$430.05

In late January, Coinbase launched its bitcoin trading platform, while Mt Gox’s CEO Mark Karpeles was arrested.

But the European Court of Justice ruled that bitcoin is currency, not property, and that it would not be assessed a value-added tax in the European Union. Bitcoin’s price broke the $400 mark toward the end of the year.

2016: Back in form

StartPeakEnd
$434.46$978.01$968.23

The marketplace software OpenBazaar was released over the northern hemisphere summer. It’s a peer-to-peer platform on which users can buy goods with bitcoin. Bitcoin’s price, in recovery mode at the beginning of the year, approached its former glory as it hovered around $1,000.

2017: A wild year

StartPeakEnd
$770.44$19,783.06$13,860.14

Bitcoin reached a new peak early in the year at over $1,100 on January 4, then promptly plummeted below $800 a week later. It would repeat this pattern throughout the year, including hitting multiple all-time highs on 1 September 2017 before dropping by an immense 20% in the next three days.

This sudden drop may have been the result of traders taking advantage of the peak to sell off their bitcoin.

A month later it broke US$5,000 in another all time high. And two months after that it had almost doubled to nearly NZ$12,000.

Then on 29 November it broke US$10,000 (more than NZ$13,500). On 17 December bitcoin hit its all-time peak of $19,783.06, stopping just short of the $20,000 mark. By New Year’s Eve, it had dropped to $13,860.14.

As you can see, a lot can happen in a very short time.

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