After the soar to an almost $680 level against the USD the price of the Bitcoin then failed to climb further and eventually fell into its recent bearish momentum. Last week showed the BTCUSD trapped in an established range, with the pair at the end of the week moving down swiftly when more bitcoin bears joined the market. In its downward spiral, the price fell below some major support levels, this fall slightly accelerated it’s near term losses.Bitcoin again shed $30 this morning as confusion in the market was heightened by the current closed door meeting between Bitcoin core developers and Bitcoin miners. Information about the ongoing meeting is sparse due to the absence of any independent observers or media representative in attendance, it is said to be the most important meeting in the crypto currency’s existence.The only news being made public is that the meeting has seven representatives of the major mining companies and 20 Bitcoin Core/Lightning Network developers.publicly stated by Roger Ver, a bitcoin early adopter and angel investor, as it seems that no one has being invited from the Bitcoin Unlimited or Bitcoin Classic team.The meeting is however being referred to as awith the most important item on the agenda likely to beespecially with the appearance of early indications that Bitcoin miners might switch clients by the first week of August. Bitcoin discussion on online forums like its reddit forum; r/btc, have shown some spates of comments but it has also revealed a mounting anticipation for the outcome of the meeting with multiple threads being simultaneously updated on the topic. Most of all, the meeting is expected to generate a decision that will set the currency on a new path.The fall in its price could be caused by a handful of reasons, like low anticipation from the market that there will be a resolution on the topic of on-chain scalability, it could be the result of the confusion looming over the currency while the meeting is being held, and it could simply be the result of insider trading.Officially the meeting is not supposed to result in an announcement, but the absence of an announcement would leave miners with the choice of deciding tomorrow whether to stick with Bitcoin regardless of on-chain scaling or switch to a different client, this dilemma makes it necessary for the meeting to at least result in an announcement, whether official or informal.With the posts circulating the r/btc, it appears that tomorrow will hold a conclusive decision reached by Bitcoin miners on how they will operate for the rest of 2016. One of the options being offered up by many participants of the reddit is a switch to Ethereum and the others suggested awhich requires experienced programmers to hardfork the public block-chain and modify it to suite miner’s demand, and ultimately make the bitcoin lose its backwards compatibility.