Ok, this is completely silly. No miners have the luxury of the price dropping, as it could make all of them insolvent. They depend on Bitcoin's exchange rate increasing so that the revenue generated from the block reward exceeds the cost of electricity to run the miners. They're not working large enough profit margins to take such risks.

It's non-workable anyway. If any miner has to drop out of the race, they still have an inventory of mining equipment to auction off. The highest bidder is simply going to put that equipment to reuse immediately, so there will be no meaningful reduction in overall hash rate. Any miner who attempted to cause the price of bitcoin to slump has simply shot themselves in the foot.

If the dollar cost of Bitcoin does not continue to increase sufficiently over time, Bitcoin is dead and every businessman who took out loans to buy mining equipment is going to default.