Investing.com - Bitcoin prices fell on Tuesday, while the price of Ethereum, Bitcoin's closest rival in terms of market cap was also lower.
On the U.S.-based GDAX exchange, Bitcoin fell to $2,690.3, down $70.7 or 2.56%.
Bitcoin rallied last week, rising to a high of $2,953.5 on July 19, just shy of its record high of $3,000 set in June.
Prices rose after Bitcoin avoided a split into two independent currencies last week when its network supported a proposal on upgrading to its software in order to speed up transactions on the Bitcoin network.
The upgrade to Bitcoin's network will not take place until autumn, according to reports.
The support of Bitcoin miners, who combined make up nearly 80% of Bitcoin’s computer power was crucial in ‘locking-in’ the software upgrade, Bitcoin Improvement Proposal 91 (BIP 91).
Meanwhile, Ethereum mirrored Bitcoin’s move lower, falling 5.18% or $11.75 to $215.00, retreating further from its all-time high of $419.3 set on June 11.
The pullback in Ethereum from its all-time high has seen its market capitalization fall to below $20 billion, well below Bitcoin’s $43 billion.
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