Android Studio error: "Environment variable does not point to a valid JVM installation"

Question

When trying to run Android Studio on my computer, I get the following error:

The Environment variable JAVA_HOME (with a value of C:\Program Files(x86)\Java\jdk1.7.0_51\bin) does not point to a valid JVM installation

I tried to remove the \bin extension on my JAVA_HOME environment variable, but it gives me the following error:

No JVM Found. Please install a 64-bit JDK. If you already have a JDK installed, define a JAVA_HOME variable in Computer > System Properties > System Settings > Environment Variables

• My System: Windows 8.1 Update 1 x64 (64 bit)
• Java Directory: C:\Program Files (x86)\Java\jdk1.7.0_51\bin

Answer 1

If you start 64bit Android Studio, you have to add JAVA_HOME as

    "C:\Program Files\Java\jdk..."

If 32bit

    "C:\Program Files(x86)\Java\jdk..."

and dont put "\bin" end of the path.