Bitcoin dropped to its lowest level on Tuesday in reaction to the concerns on whether the digital payment system will continue to evade a split.
About 80 percent of developers said they would support BIP91 the previous Thursday. This proposal is for the improvement of Bitcoin, mainly to resolve alterations between SegWit2x and the Aug. 1 User Activated Soft Fork. The digital currency is likely to split if developers won’t universally agree on the 2MB size by its execution this November.
Bitcoin slipped as much as 10 percent to settle at $2,487.13. According to CoinDesk, this is its lowest level compared to the $2,276.16 it notched last Thursday. The cryptocurrency kept stable during the recent month but it continuously doubled its value for the year as it was able to reach close to $2,500.
The price of gold stayed unchanged as investors shifted their attention to the coming Fed meeting.
Copper touches a two-year high after the release of strong earnings boosted the S&P 500 index.
U.S. gold futures declined more than 0.4 percent to trade at $ 1,246.70 an ounce for its August delivery and spot gold was marginally down by 0.1 percent to finish at $ 1,247.08 an ounce.