Bitcoin Near $64,000 as Drawdown From October High Tops 24%
By The Defiant
The slide has deepened since the Nov. 12 break below $72,000. A SpaceX IPO comparison offers a bullish scenario, not proof that selling is nearly over.
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Initial public offering
The first sale of a private company's shares to the public, after which the shares trade on a stock exchange.
An IPO raises money for the company and lets early owners and investors sell part of their stake.
More about Initial public offeringBitcoin
The first and largest cryptocurrency, created in 2009, with a fixed maximum supply and no central issuer.
Its price swings and adoption by funds and companies make it a bellwether for the whole crypto market.
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