If bitcoin should drop to $1000 or below, I think first thing to do is to find out why such a thing happened, because bitcoin, (considering it's current price and all time high price, plus all the high profile investors), have grown past the stage where it can drop to such a ridiculous amount without any form of negative news backing it.

So for me, first, I will have to know what caused the price of bitcoin to drop that low, what ever the reason is; will determine for me whether I should buy more bitcoins or just sit and watch as the whole magic play out.