Regardless, the price of BTCs will always depend upon the amount of people willing to purchase it at a given price. That is why, I do not see it happening from the near future that BTCs will not be able to be converted to fiat as people would always find ways of purchasing it for investment.
I also think the same thing, for me when BTC is still trusted by many people even though the bank does not legalize the conversion of BTC to fiat, people can still make the transaction. When basic needs such as bread are prohibited by the government from being exchanged for fiat, will people change their basic needs? not. As long as the bread is still liked by some people, even though they will secretly trade on the bread. peer to peer is an alternative for people who still love BTC, only gambling which is clearly illegal can still operate, why can't BTC?