Bitcoin trades around monthly lows, down more than 5% on day

As fresh developments surrounding the Bitcoin pushed investors away from the digital currency, the BTC/USD pair lost more than 5% on the day despite the greenback weakness and fell below the 2.200 mark for the first time since June 15. At the moment, the pair is trading at 2.198,6, down 5.5%.

According to a recent story by CNBC, an internal dispute over Bitcoin soon could translate into a panic in the $39 billion marketplace forcing prices to drop and payments to be delayed. CNBC also argues that it all depends on whether or not a major software upgrade is implemented at the end of the month.

Furthermore, the Indian government is said to be looking into ways to integrate the digital currency into their financial system by taxing it. Although this development shows that the Bitcoin is starting to be recognized as an alternative investment instrument, it also means that other countries could follow the same path.