I guess the price would fall precipitously, probably under 5000 USD or more likely 1000.
It's really hilarious to ever think that will be possible. It didn't drop to $1000 during the last severe dump in 2018/19 when it was patronised mainly by individuals let alone now that institutions are fans of it. No matter whatever ban Bitcoin witnesses, it won't drop to that level.
Are people still going to want to hold it when the government can always come after them?
Bitcoin is a community coin. The people own it, not a few selected sect in government. Also, we have to factor in the sentiment now with the people that Bitcoin/cryptocurrency is their way of getting out of poverty. So, they tend to see anything against Bitcoin as something against their own progress. The government in this case, is tagged public enemy. People aren't even going to bleak not to continue to hodl Bitcoin.