
Why is the price of Bitcoin and other cryptocurrencies falling?
CBSN
The price of Bitcoin fell as much as 29% Wednesday after the China Banking Association warned member banks of risks associated with digital currencies. Other digital currencies suffered sharp declines as well.
Bitcoin's volatility was on full display: The decline had narrowed to below 10% in early afternoon trading. Bitcoin has lost about 40% of its value since April 13 when it hit a high of more than $64,606 per coin. Before Wednesday, Tesla's decision to not accept the digital currency as payment for cars, along with concerns about tighter regulation of digital currencies, were major factors in the decline. The price is still up about 31% in 2021 and nearly 300% from a year ago.
Robert Morris, founding pastor of Gateway Church, a megachurch in Southlake, Texas, has been indicted on five counts of lewd or indecent acts with a child, stemming from alleged incidents dating back to the 1980s, the Oklahoma attorney general's office announced Wednesday. We are aware of the actions being taken by the legal authorities in Oklahoma and are grateful for the work of the justice system in holding abusers accountable for their actions. We continue to pray for Cindy Clemishire and her family, for the members and staff of Gateway Church, and for all of those impacted by this terrible situation.