Miners are a good indicator on where the next price movements are headed, as long as the electricity is affordable we will have the higher difficulty levels pushing up the price
Miners are slaves--they have to adjust to whatever the market subjects them to. I remember how people put all their confidence in the $6000 mark because miners according to them needed it to break even.
The price didn't care about their operations and it corrected with 50% to $3000. The hashrate won't miraculously exceed the level of profitability, because that's not how things work, economically speaking.
Hashrate drops aren't the end of the world. The difficulty will adjust itself and stabilize at the levels miners stop shutting down their machines, and currently that seems to be the case.