More than likely..
It is your slave cylinder. The master cylinder is located in the cockpit and is attached to the clutch pedal itself, looks like a little shock which mounts to the firewall. The slave cylinder is mounted on the input shaft of the transmission, and to change it, the transmission has to come out. Sure, you can bleed the system of air, but look at it like this, you don't normally have to bleed your brakes do you unless you open the system and air gets in right? Same thing with the clutch, if you have to bleed the air from it, then it HAS a problem somewhere. Air is entering the system through a leak in the hydraulics. any air in the system is otherwise NOT normal and means that something needs attention. You can bleed the system for now and probably restore function, but this is only a temporary stop-gap measure as it will worsen to the point where no amount of bleeding will fix the problem.
My advice, unless you have the $$ to fix it right now, bleed the system, restore the function, and carry a big bottle of dot3 brake fluid to add. Check the clutch fluid every day or two to see how quickly the level drops.
Good luck!!
Phil