If our country cracks down on Bitcoin, will the price of Bitcoin big dump and become less valuable?

China has cracked down on Bitcoin three times in history.
For the first time, in December 2013, it was clearly stated that Bitcoin is not a currency, and Bitcoin fell in response, not recovering for 3 years.
The second time, in September 2017, it was clearly stated that financial institutions were not allowed to provide settlement services for trading institutions. Since then, there have been no trading institutions in China, and Bitcoin fell in response. However, this only lasted for a few months, and Bitcoin reached a new all-time high again.
In the above two instances, the first prevented Bitcoin from circulating in reality, and the second restricted the exchange between Bitcoin and Renminbi.
The result is that Bitcoin has difficulty impacting transactions in the real world.
The third time, in July 2021, the mining ban, mining is merely a way to protect the security of the blockchain network. The crackdown on domestic mining can only weaken the network security to a certain extent in the short term, and undermine market confidence, which is far less impactful than the previous two times.
In fact, most people are not aware that after the crackdown on mining last July, the total network hash rate of Bitcoin has reached a new high.
In the end, the trading volume of Bitcoin in China has shrunk, and China's influence on Bitcoin prices is becoming smaller.
Cryptocurrencies like Bitcoin are inherently transnational, and the influence of individual countries will only become smaller.
Different countries have different national conditions, and it is very normal to have policies that are tailored to local circumstances.
So, in which country, abide by the laws of that country.
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