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CryptoWatch: Could bitcoin break the internet?

After trading in the red most of Monday morning, cryptocurrency prices popped higher midafternoon, pushing the price of the No. 1 digital currency, bitcoin, to its highest level in a week.

After last Thursday’s regulatory news that bitcoin and ether were not considered securities, which was widely considered a win for crypto enthusiasts, digital currencies had failed to hold on to gains, a sign the bear market is firmly intact. However, investors were hoping Monday’s move above the post-SEC-statement high will be the start of a more fruitful period for digital currency owners.

“There’s the Square news, which adds to the adoption argument,” said Matt Hougan, global head of research at Bitwise Asset Management.

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