Yeah, miners will either stop mining or continue mining but hoard most of the coins they receive to wait for a higher sell price.

Very, very few miners will actually mine at a loss and continue selling. This is incredibly stupid to do as it means you are actually paying your own money for the privelidge of mining bitcoins, lol.

This means we could see a couple scenarios:
1) A lot of miners (GPU miners, as well as newer ASIC purchasers who will not see a realistic ROI at current BTC/fiat rate) will simply stop mining, for the time being. This will increase profitability of remaining miners.
2) Reduced supply of coins (far fewer miners will be selling their coins right away at this price) will partially contribute to price rally. This illustrates one of the essential roles of hoarders in any healthy economy, per Fekete. Removing and introducing liquidity, i.e. "everyone has a price." Miners hoarding are like a crude version of market-making derived from rational self-interest yet also benefiting the economy as a whole.

I can see both scenarios happening fairly soon.

If price goes down further, it will only compound the effect of (1) and (2) in the long run. More miners will stop, those ASIC miners that continue (and are actually profitable) will have to either sell at a VERY slim profit, or hoard (thus partially contributing to a reduction in supply)

In the end, the demand side has to be taken care of, naturally, via adoption. I don't think this will be a problem. In the meantime, it's pretty easy to speculate as to what this ASIC mining fiasco will contribute in terms of supply.