2. Get some loan.
3. Buy as many btc as I can.
4. and wait for it to rise and sell when it's a peak price
What would you do if bitcoin becomes 0$ after you bought as much BTC as you can or simply consider it as a dump coin? This is actually possible to happen if an alt coin will rise and replace/upgrade all the privileges that BTC offers. Please do consider that bitcoin dropping to 1$ doesn't mean that it's the lowest price bitcoin will be. There's a chance that people are just dumping their btc and are migrating to another crypto-currency that's why bitcoin's price became 1$.
Yep, it's close to impossible. With all these people becoming a part of the bitcoin community, bitcoin has a good future to rise in price but it has very little to none at all chance to touch 1$.
yeah, bitcoin falling back to $1 is never possible now, it will keep on rising in future and even if it falls in future it will not be below anything $250.