Bitcoin tanks below $40,000; here's why This is the cryptocurrency's lowest level since February 2021 and comes after knocking a peak of $64,895 last month BusinessToday.In | May 19, 2021 | Updated 13:15 IST As per the latest data on Coinbase (at around 11.30 am), Bitcoin was trading at $38,570.90 on May 19 Bitcoin continued its week-long slide triggered by Elon Musk's back-and-forth remarks on Tesla's holdings of the digital currency. Extending its losses, the cryptocurrency fell below $40,000 on Wednesday, May 19. As per the latest data on Coinbase (at around 11.30 am), Bitcoin was trading at $38,570.90 (on May 19). This is the cryptocurrency's lowest level since February 2021 and comes after knocking a peak of $64,895 last month.