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Bitcoin prices rebound after Silk Road closure

The digital peer-to-peer currency Bitcoin has seen its price bounce back after a market crash in April. The price on Mt. Gox, the largest exchange, hit $197.40 recently, and current price estimates put it at $182.74, according to The Guardian.

Bitcoin has been in the news recently after the online drugs marketplace Silk Road was shut down. Some observers thought that incident would hurt Bitcoin, but some say it could help strengthen the fledgling currency.

"If anything, the fall of Silk Road has done Bitcoin a favor," Emily Spaven, editor of the digital currency news website CoinDesk, told The Guardian. "Hopefully now that the website no longer exists, people will start to see Bitcoin in a more positive light and appreciate the numerous benefits it offers."

The latter prediction seems to have stood up, the newspaper said, as the price drop caused by the closure of Silk Road was reversed in less than two weeks. The value of a bitcoin has grown nearly continuously since.

But according to a report from McAfee, the currency is still thought to have potential criminal uses.

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