Bitcoin Drops 20% in 24 Hours, <br />Hitting Lowest Level Since Feb. 3.<br />On May 19, Bitcoin fell below $37,000 for <br />the first time in over three months.<br />According to Coinbase, <br />Bitcoin has dropped <br />over 30% in the last week.<br />Since hitting a record high of $64,829 in mid-April, it's down about 44%.<br />Much of the drop is likely due to Elon Musk withdrawing his support for the cryptocurrency over environmental concerns. .<br />Much of the drop is likely due to Elon Musk withdrawing his support for the cryptocurrency over environmental concerns. .<br />On May 18, China banned financial institutions and payment companies from conducting virtual currency-related business.<br />Other cryptocurrencies have also taken a hit.<br />As of May 19, both Ether and Dogecoin <br />dropped over 30%.<br />As of May 19, both Ether and Dogecoin <br />dropped over 30%.<br />Regardless of the downward trend, Bitcoin is still up about 300% in the last 12 months
