This week the price of bitcoin has been descending downwards following a bearish trendline and is currently hovering just around the US$2000 range.
The price started its downtrend on July 10 after staying around the $2550 territory for a few days, but subsequently started dropping to a low of $2225 on July 14.
At press time the price of BTC is struggling to stay above $2K, and current technical indicators are showing the bear run may not be over.