There's so many countries banning bitcoin now that it affected all alt cryptos as well. wonder when it will actually recover.
Beginning of new phase for sure.. People voice will change things .
It can be slowed down but not sure they can BAN it completely, they could probably try to control it by some kind of regulations due to money laundry and taxes.
Like you said, "new phase", and that can actually be good, because if they say: "BTC can and must be taxed", then they admit that has a value.
With regulations being imposed, this mean that cryptos does not have its own meaning anymore. If it can be taxed, mean it will be traceable thus defeat the purpose of cryptos.
The reason for the government policy sanctions is that "direct prohibition will not look so humane", so take the lead and tax the players; in order to curb the number of participants, most people think that the profits of digital currency trading is not so high , Will automatically leave
However, if the tax is levied, the profits of the market makers will also be lower, which will not cause a more insane increase. However, the blockchain and the digital currencies should be separated. The latter belongs to the game. No one can block the area Blockchain, from a technical perspective, each country will embrace the blockchain, but each country will not embrace digital currency trading like "Japan"