This may be a foolish question and it's just out of curiosity. Does the value of the coin determine the difficulty along with the block? I mean if the value hit rock bottom, would the difficulty drop as well?
It works by adjusting to the amount of hashing power essentially, trying to maintain a target time of 10 minutes per block. If the hashing power increases so that there is confirmation times under this, the network makes mining more difficult. If it loses hashing power, the network scales the difficulty so that it is easier overall.
There is no causation between the value of Bitcoin and the difficulty of the network.