I have said it so many times that no one country owns bitcoin and as such no country can bring down bitcoin!
it is not a country that lowers the price of bitcoin, but a country's decision on the bitcoin usage policy is affecting global bitcoin market prices.
That's right. If BTC were to be banned in a country where there are many investors, like in China, some of those coins would be converted back to local currency.
People would be afraid of being unable to trade and cash out, so they'd sell while the exchanges are still online.
As we know, a massive sale, even if performed by just 5% of the investors, could trigger an avalanche.