If governments are successful at shutting down crypto (possible, but unlikely to me) or people just decide they'd rather be subject to bureaucrats' monetary decisions (seems really unlikely) then crypto is going to zero.
To me this is just impossible, would be needed a ban from all the countries or at least all the most powerful countries to really shut down crypto, China's move is forcing miners to go out from there, equally a ban in USA or in the EU would cause similar responses.
Crypto is generally one step behind than any regulation and i think it will keep being like that as is easier to build new ways to use crypto than to adapt the regulation.
- Sorry i had a dumb morning and wrote that last sentence completely wrong lol.