I don't think anyone will prefer to buy if price falls back to $1 and if it goes that low then it will be surely an end of bitcoin and there would be no point in buying them at that stage.
Going back to $1 means the bad news is really heavy. No way bitcoin price will fall to $1 if there is no major bad news that will happen.
Also why it doesn't have established a support when the price reached $400 , $300 or $100 and really goes down to $1? That is the end of bitcoin if that will happened. No way it will gain trust again after the established progress today of bitcoin.
Yes if that fall that low in future then it will loose all the trust from the community and it would be almost impossible to bounce back and I think that would be an end of bitcoins.