We saw a flash crash after reaching $1080 down to the $1030's, but it's rebounded. So we're stagnating on progress it seems, making a sustained downtrend much more likely in my opinion.
Expect these sort of price crashes when some news pops out of China that Chinese authorities will be meeting with exchanges and even a news like that would create panic in the price of bitcoin and hope we wont see a crash and these sort of volatile nature really scares anyone who is invested in bitcoin.
It is terrible to see this great concern for the Chinese influence in the bitcoin price. I really hate this. I am a western man, so I dislike to be permanently reading and watching what are Chinese thinking or opining about bitcoin. Actually I think this a myth, and I am sure there is bitcoin after China.
No doubt there is Bitcoin after China. But since BTC is such a small currency in the grand scheme of things, it can be heavily swayed by a single party with deep pockets. With that being said, we did break $1000 once again so that's definitely a good sign.