Honestly, even if every government tried to ban centralized exchanges at the same time, Bitcoin wouldn’t just disappear. People forget that BTC was already moving around before big exchanges existed — through OTC deals, P2P trades, even simple meetups.

A global ban would definitely hit the price short-term because liquidity would dry up, institutions would panic, and casual users would exit. But long-term, the value comes from the fact that Bitcoin can be transferred peer-to-peer without permission. If exchanges get shut down, decentralized platforms and P2P networks (Bisq, HodlHodl, even DEX liquidity pools) would see a massive spike in use.

So yeah, BTC would take a heavy punch, maybe even crash hard for a while. But “survive”? 100%. The whole point is that it doesn’t need anyone’s approval to function. In fact, such a ban might only strengthen the narrative of Bitcoin being unstoppable.