Because the government of Indonesia now has and controls its exchange, the bull run won't start because of that. What the Indonesia government has done is contribute to the mass adoption of bitcoin by allowing its citizens to invest in bitcoin through their local exchange in order to generate broad profits for them both before and after the bull run, as there will be a need for individuals to invest in bitcoin towards the upcoming bull run.
because the Indonesian government has controlled the crypto price thus making it more stable, probably no price significantly spikes on the exchange were regulated by the institution. but as I know the Bitcoin price is not only in 1 country movement but in all countries where all kinds od exchange have paired with the fiat. This means, the Bitcoin price does not significantly change if the trader can withdraw or do the transaction from my local exchange to another country's exchange.