Bitcoin will die only if the price of bitcoin falls to zero level but I don't think that is ever going to happen as price will keep on going higher and higher in future as and we will see more people start adopting bitcoins in near future;
Even if Bitcoin was $0.00 the transactions of the coins would remain active. When or if Bitcoin reaches that price then people would have the choice to either pay for things with Bitcoin decimals or using another barter product. For the price reaching $0.00 another type of payment would get released by a higher class individual/individuals and digital transactions would get used a bunch more than it is right now.
Bitcoin would die if the whole system just stopped functioning (Blockchain doesn't have any new confirmations, the wallets won't sync, etc).