Not forgetting anything. The price is what it is because the demand is there. Which is to say, the demand for black market dollars is higher than the demand for legal dollars. Another factor is scarcity of supply in such situations.

With bitcoin, the countries with failing fiat economies are the most likely to ban it. Those are also the countries where people will be most desperate to find alternatives to hold their money over fiat. Reduced supply (only criminals have bitcoin) with rising (desperate) demand means the price will stay stable or go up. If it goes up it will spill over into the legal parts of the world in the form of arb. These are basic fundamentals.