How much more descent???
The BTC has been in a down trend for a pretty good time. This descent started from Nov 9-10 and since then BTC has lost half of it's value. In this logarithmic weekly chart we can see what has happened from Aug 2011 . As you see the price is near the bottom of both the red short term yellow channel at about 32 K and the yellow mega channel at about 29-30 K. Anyway, the price will go up sooner or later, but when. With regard to current situation of price, position of indicators and the general sentiment I think it will touch the bottom of red channel in near future. At that time we can think about touching the next bottom or going up.
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