Alibaba's US IPO May Have Crashed the Bitcoin Price
Alibaba's IPO (Initial Public Offering) is set to take place today at 11.00 AM ET on NYSE (New York Stock Exchange) under the ticker BABA. The IPO of Alibaba will become the largest IPO of a company in the United States, ever. Alibaba Group will price its shares at 68 USD, which makes their company worth 21.8 billion dollars. The Bitcoin price has plummeted by more than $60 or 12.5% this week. Just yesterday the Bitcoin price went from 450 USD per bitcoin to $407. The price has not been this low since April 2014, after a long decline from the massive spike during the Chinese fall where one....
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