China and the US both made statements this week about cracking down on mining/trading, new reporting requirements for transactions, the concern of crypto being used for tax evasion and illegal activities, the Bank of England governor recently said bitcoin has no value, European officials have often made negative statements, and there is always talk of bans in India. It was just reported on the news that Hong Kong is going to announce a ban for retail trading of cryptocurrency.
It's obvious that countries haven't considered bans in the past because they didn't consider bitcoin to be a threat, and it gets harder to ban the longer they wait because of the negative effects on their country, but the possibility remains. Also even if it were not banned, governments can monitor all activity because basically everyone uses centralized exchanges and the blockchain is public. They can tax it at whatever rate they decide to. It is just not conceivable that ordinary people are going to install applications on rooted phones to be able to continue to use bitcoin in the presence of a ban.
So what would the future trajectory of the world look like after that? I guess the price would fall precipitously, probably under 5000 USD or more likely 1000. Are people still going to want to hold it when the government can always come after them? I don't see how any small underground activity like paying your hairdresser in crypto, or even sending money to family/friends internationally is going to be able to sustain the viability of bitcoin, nor how the vast majority of the population can be convinced to use it in the face of government FUD.
One thing that does not seem to a be a concern is mining, because even if governments outlaw and can find ASICs and farms, the mining can always shift to use less electricity, fewer ASICs, etc.