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

China has cracked down on Bitcoin three times in history.
In December 2013, for the first time, it was clearly stated that Bitcoin is not a currency, and Bitcoin fell in response, not recovering for 3 years.
In September 2017, for the second time, it was clarified that financial institutions were not allowed to provide settlement services for trading firms. Since then, there have been no trading firms within China, and Bitcoin fell in response. However, this only lasted a few months before Bitcoin reached a new all-time high.
In the above two instances, the first made it impossible for Bitcoin to circulate in reality, and the second restricted the exchange of Bitcoin and Renminbi.
The result is that Bitcoin is difficult to impact real-world transactions.
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 network security to a certain extent in the short term, and undermine market confidence, which is far less impactful than the first two times.
In fact, most people are unaware that after the crackdown on mining last July, the total network hash rate of Bitcoin has reached a new high.
In the end, the domestic Bitcoin trading volume has shrunk, and China's influence on Bitcoin prices is becoming increasingly small.
Cryptocurrencies like Bitcoin are inherently cross-border, and the influence of individual countries will only diminish.
Different countries have different national conditions, and it is quite 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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