I think that it probably won't go down to single digit. With the current mining difficulty, it will cost more for miner's electricity to mine them. So, miners will not sell below their electricity cost.
That argument is very flawed. It would be as arguing that a stock can not fall below e. g. $100 because so many people bought at that price so they won't sell it below. Well my 15+ years experience in the stock market tells me a little different...