The major governments of the world have for some time been laying the groundwork for their own national cryptocurrencies. Does that matter? Yes, it matters a lot. Bitcoin will be a direct competitor.
Why do they do this? To remain in financial control and to stop financial crime like whitewashing of funds from happening. Is it likely to happen? Yes, the US banned holding gold privately in the 1930's. So that the US government was to be a monopoly gold holder in the US.
There is a clear danger that the US, Europe, China, Japan and others will get togheter and flat out ban and even criminalize the usage and holding of Bitcoin. Resulting in after the ban, if you are cought using and holding BTC, you would get a huge fine or jail term.
The price of Bitcoin would get killed completely, you would be looking at Bitcoin below $1000.
How likely do YOU think this scenario is? Although you might say this is only speculation, IT IS A FACT that these countries are working on cryptocurrencies of their own.
If you don't see a clear difference between 1930 and 2021, then I don't know what to say. They banned not only gold but Alcohol distillation, steroids, 90ths drugs, etc. But what? Gold is legal again, alcohol is legal again and just visit the Campus of any University, you'll be amazed when you see what happens there. Also, every bodybuilder and fitness influencers (some exceptions ofc) use steroids (while it's illegal).
Nevermind, Bitcoin isn't their competitor and there is no need to ban it. Plus, consider that there are a lot of businesses built around Bitcoin and cryptocurrencies, you can't just abandon them when you wish.