Bitcoin recovers to $38,000 after plunging 30% in 24 hours Bitcoin started seeing a major decline after Tesla CEO Elon Musk said his company will no longer accept Bitcoin as a digital payment due to damage it causes to environment. China has also proscribed financial institutions and payment firms from providing services related to cryptocurrency BusinessToday.In | May 20, 2021 | Updated 09:15 IST Bitcoin has fallen almost 50 per cent from April 12 The world's largest cryptocurrency Bitcoin has declined 6.62 per cent to $38,018.85 in the past 24 hours. The world's biggest cryptocurrency saw around a 26.7 per cent drop on Wednesday. It went from $43,602 5.15 pm ET to as low as $31,926 around 9.15 am ET, digital currency exchange CoinDesk data shows.