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Bitcoin price is decreasing and is off around 39 percent from its peak in mid-April when it was $64,895.
On Wednesday (May 19) around 11.30 AM, Bitcoin was at $38,570.90 according to latest data on Coinbase. This is its lowest level since February 2021. Yet, it is still up over 40 percent year-to-date and 320 percent in the last 12 months.
One of the reasons for the tumble is Tesla chief Elon Musk’s tweets. He tweeted on May 13 that Tesla had suspended vehicle purchases using Bitcoin. That tweet sent the cryptocurrency careening and wiping of off $300 billion off the market. The other reason being regulatory hurdles.
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