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.
That is true. If the bitcoin stays below $300 for the next few months, then people will select another good coin.
No. If bitcoin goes below 300$, i will spend all my available resources on it, again, just like i did in 2015, which was the best year for accumulating! So would a lot of other people, hence the price won't stay below 300$ indefinietly - if you bought at 2015, and sold/hodled through this year May+, you more than doubled your investment, and more importantly, we know the bitcoin price can and will go up again and again. It is a self fulfilling prophecy.
So was the housing market prior to 2008 (a self-fulfilling prophecy). That's called a bubble, and when they burst, all that money goes bye-bye. The difference between blind optimism in bitcoin and blind optimism in the housing market was that the case for the sustainability of houses was much less in question than the case for bitcoin, and as a fallback, houses serve a function as a dwelling. Bitcoin is purely a vehicle for speculation. There simply is no asset that is guaranteed to go up in value.