Many people claim that they will buy massively and not look at the price if Bitcoin drops below $10k, $5k or $3k but I bet if Bitcoin drops to $3k, people will run away in panic. No one will believe in the bitcoin revolution or the financial freedom that bitcoin brings anymore.
Yes, they will panic and run away from the market without think to buy Bitcoin at that price. They will not think Bitcoin price can increase back after the drop because they will think that is the end of Bitcoin. But I will buy it without take too long and hold it because I believe Bitcoin will increase in the right time. But we don't know if that will really happen or not. That will need a big dump that can force the price to go down. Only those who owned a big amount of Bitcoin that can do that 