is it possible for bitcoin to trade well below 300 this year? 

That's a very good question, and probably would even be a decent poll question.
My personal sense is that it will NOT go below $300, and I have a real hard time speculating that it could go below $400 for the remainder of the year.... so I would vote NOT to both $300 and to $400 for the remainder of the year (absent some major negative news event or some very convincing FUD)