As we know nowadays everybody uses cryptocurrenies and specially Bitcoin in their trades and criminals too. China recently declares blockchain illegal in that country, How likely do you think is that other countries ban it?
If they start to ban it, what would be happen to bitcoin price?
When China decided to eventually ban Bitcoin exchanges from operating within the country after they also decided to stop all ICO-related activities, there had been many who concluded that it would be affecting Bitcoin that much so as to setback its growth and future. But, fortunately, that is not what happened. Yes, there was that notable retreat in value but things started to pick up again days after. The China ban did not put a stop to the surge of Bitcoin which we recently experienced (just days ago).
Now, we have to remember that any country can choose to ban Bitcoin because that is certainly their own sovereign right and power as a country and there is nothing we can do about it. This is the reason why we are pushing for regulations in place of the ban because some compromises can be better than to have nothing at all.
As of now, Bitcoin has been operating in many countries which openly accept Bitcoin either as a medium of exchange (currency) or an asset (comparable to gold) and it is impossible for these countries to unite and ban Bitcoin altogether as they are now getting some tax revenues out of the transactions involved.