Its funny because I almost take the opposite view. If it drops to 1k, I wonder how much damage would already be done. With about 19 million coins out there, at 1k, the market cap will be only 19 billion, and I wonder who would still take is seriously.
The more important metric in my opinion is hashpower. If this took a major hit and goes into decline, that would worry me. I understand some miners might become insolvent in the near future, so maybe hashrate can go down, but there is perhaps a lower bound that you don't want to see or else the network might become open to attack. As long as the miners are online, this to me is perhaps the most important metric. Even if regulation turns unfavorable, as long as the hashrate stays up there, the world will see the potential, even if the US decides to make things difficult.
