Investing.com – Bitcoin continued to give up recent gains, as investors looked ahead to additional hurdles that needed to be cleared before the bitcoin network can process additional data.
On the U.S.-based GDAX exchange, Bitcoin fell to $2,546.6, down $192.5 or 7.19%.
Despite data showing 93% of bitcoin miners supported software upgrade BIP91, which would enable the Bitcoin network to process transactions quicker, investor sentiment turned cautious as traders awaited further clues on whether miners would signal support for the next iteration in the path to software upgrade, BIP 141 (SegWit).
The upgrade to Bitcoin's network, is expected to activate in late August, providing miners with ample time to upgrade their software.
Meanwhile, Ethereum, followed bitcoin lower, falling 9.27% to $204.15, down 9.27%, after snapping a four-week losing streak last week.
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