There are many obstacles that bitcoin will face first before having it's true value like government acceptance. If 50% of the governments will banned it then it's value will only remain to 50% out of it's 100% value as the demand is only 50%.
If there are many buyers then it's price will increase and the same with it's opposite, so in my case only the government has the power to dictate the price of bitcoin.
That's right most of the government in each country they opposed it, I don'k know why they hate despite of it can help to their economy.
But others country they're not banning it instead they regulate Bitcoin to their country just like Japan, and others. And I agreed that the government has the influence to make the price of Bitcoin be increase or decrease.
But the main thing here is, the Government can sometimes influence the value of Bitcoin.
But the real value of Bitcoin is their innovation of blockchain technology. And I think that's the real reason why people still investing in it.
Besides that, Bitcoin also already been used as the main pair on almost every token or coin.