The value of the Grayscale Bitcoin Trust (ticker GBTC) has fallen by about 20% this week. This is almost double the fall of the world’s largest cryptocurrency. GBTC closed on Wednesday more than 14% below the value of its core assets – a record discount, according to data compiled by Bloomberg.

“GBTC has a fixed supply and acts like a leveraged play on bitcoin,” said Bloomberg Intelligence analyst James Seyffart. “As price goes down, sentiment goes down, GBTC is going to fall further than Bitcoin. Same thing happens on the way up.”

Bitcoin fell to a two-week low on Thursday, marking its longest streak of declines since December. This decline has already begun to affect institutional and retail investors. A further drop may lead to the beginning of profit-taking by large market participants and the beginning of panic sales, as in 2017-2018.

The material has been provided by InstaForex Company –

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.