Despite many supporters claiming that no government has control over the Bitcoin network or price (and that even if they do have control, they wouldn't hurt it due to innnovation), this seems to be proven untrue time and time again. For example, over the years, everyone labelled China threats as FUD and that they would never completely ban Bitcoin. Earlier this year China banned BTC mining, and over half of the entire network shut offline in the following weeks.
It may surprise you but China is a f.king country. Not a single indentity. I can go even further with this. Bitcoin is not decentralized - earth (our planet) is resposingle for 100% bitcoin hashrate. If earth will decide to stop mining ... btc will die!
Now let be serious. Lets sum up this China ban event. The most populated country, 4 times bigger than USA in term of population, 18% of world population, economic and military power banned bitcoin... BTC hashrate dropped by half (for short period of time - it was also caused by price dump - less profitable mining worldwide) and ... no effect on end user. End user not even realize what happend. Hashrate is slowly going back up with miners moving to other countries.
The largest cannon has just fired and bitcoin is still here.