All prices are dictated by supply and demand. Currently not much of the world owns bitcoin. If just a small fraction start taking up a position because bitcoin is not correlated with any other asset and it works decently as a store of value alternative to gold, the price will go up. Multi billion dollar funds and endowments will eventually want a 1-2% exposure to bitcoin, which will represent $100's of millions in buying pressure, each.
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It is not by contradecirte seriously ^_^
In India, the use of cryptocurrencies has been prohibited, and you can close your bank accounts if you do cryptocurrency transactions, whatever it may be.
In Europe there is a great debate on the subject and it is becoming very clear that what matters is to implement the BlockChain technology, but not the use of cryptoactive as payment method, because that is why we have the Euro in our homes.
The BTC bubble has been inflated by criminal societies that wanted to divert and clean money, when governments have warned this, they have put cards on the table (nobody likes to have something they can not control and that can affect the economy of a country, it becomes extremely dangerous) and the first step to avoid this has been that you can no longer acquire cryptocurrency without being properly identified and tracked assets.
That is, Europe says yes to implement BlockChain in its banks, but not cryptocurrency. Soon, a resolution on this will be coming soon. Europe and many other governments do not approve of the BTC or any other cryptoactive, they do welcome the BlockChain technology, which by the way is open source and accessible to everyone, being able to improve it for internal banking purposes, but the currency it will continue to be the Euro in Europe and the Dollar in the US.
Nobody wants a runaway horse loose in his field and much less if it is unpredictable, because it becomes as I said before, dangerous to the system. History can tell you a lot about this.
Look for example in the currency EUR / USD in Forex, as you see it is falling, that is losing value.
In any case, everyone is free to invest their money wherever they please, as long as the assets are clean.
My personal opinion is this, nothing more ;-)
Bitcoin has also been declared as money in Japan. It's global. Even if one country takes a hard stand on it, doesn't mean others will.
Here I have posted an article that you , is in Spanish, but you can translate it with Google Chrome or any other.
A greeting