Bitcoin reached a critical trend line
In its relentless march downwards the last few weeks, Bitcoin price is reaching a critical trend line :
Figure: critical trend line
If this trend line does not act as a place for a true bounce, the next historical trend line is way, way lower. In that case, the recovery will take much longer (months or up to one/two years).
But remember, for every seller there is a buyer. Someone is loading up on cheap coins right now....