Bitcoin is getting all the press, but many are looking at the broader crypto market. (AP Photo/Mark Lennihan)
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Bitcoin rallied past the $16,000 mark Tuesday as traders of the world's biggest digital currency sought to draw a line under its roller-coaster five-day slump.The gains will be a welcome relief for crypto bulls, after bitcoin declined 26 percent in the five days through Monday in what was seen as a major test for the nascent digital currency industry.Bitcoin is the crypto benchmark, but not the best representation of the technology, Mike McGlone, Bloomberg Intelligence analyst, wrote in a column Sunday.When the frenzy subsides, 2Gs should continue to gain on bitcoin, according to McGlone.
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