If bitcoin's value dropped to one dollar then it only shows its weakness, everybody will quit. Honestly, one of the reason why I'm here because the price itself attracts me.
But I do agree also that even it reach the lowest amount, it could still make the price high but I think it will be harder.
There will be a extremely significant loss in confidence for sure if Bitcoin would drop to $1 at today's valuation. It's also true that a lot of the people here (most of the people?) are solely attracted by the high/rising valuation - which doesn't apply in my case. I don't think that everybody will quit just because of the price decrease. Personally I've decided to never cash out for fiat.
What's more important than the price decrease itself is
the reason for such an epic drop. If the reason is a fundamental security flaw, then Bitcoin is most likely done. But it's also possible that such an event might just be based on elaborate market manipulation or the collapse of several major exchanges. In this case, a quick recovery is possible.
ya.ya.yo!
