Bitcoin was trading more than 4.3% lower Wednesday morning.
After hitting $57,000 on Tuesday, Bitcoin was trading at around $54,750 per coin, while rivals Ethereum and Dogecoin were trading around $3,445 (-1%) and 22.3 (-0.58%) cents per coin, respectively, according to Coindesk.
A Mississippi Baptist church has become the first Southern Baptist church to accept cryptocurrencies for donations and tithes.
Back Bay Baptist Church in St. Martin announced at the end of September that it would accept digital currencies after COVID-19 made it difficult to collect traditional payments.
“We stopped passing around an offering basket when COVID hit,” Back Bay Baptist’s Pastor Adam Bennett told WLOX. “We actually have a little basket in the back for the room.”
The church accepts Bitcoin, Ethereum, USD coin, Dogecoin, Litecoin, Die and Bitcoin cash. Parishioners can choose to either give or invest an amount as pre-set by the church, from “as little as $10 worth” of Litecoin or as much as $100,000 worth of Ethereum.
Meanwhile, Coindesk reports Bitcoin buyers are trading cautiously as overbought signals appear on the charts. Resistance is seen at around $58,000-$60,000, the level that preceded a price drop in May. This time, however, pullbacks could be limited toward the $50,000-$52,000 support zone, the report said.