Exavtly Bitcoin is no bubble. Bitcoin is backed by the investments in hardware, internet, electricity, man hours and the technology that allows users to make transactions worldwide with a fucking smartphone in their hands. A guy in London can send $10000 in crypto to a guy in a basement in China at the touch of a button no banks involved. FREEDOM.
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The problem is that the governments doesn't want to give that freedom
It's hard to censor peer-2-peer technology. A government would ultimately have to outlaw VPNs (practically impossible) or create a separate Internet (like North Korea.)
Or just ban them like BTCC exchange
I'm assuming BTCC exchange was a central website?
VPNs can go around such bans, unless the site itself was taken down. You could upload the website on a peer-2-peer HTTPS alternative, such as IPFS.
Internet bans are hard, to be effective you need to take the physical server down. And such actions can be avoided by peer-2-peer. Then a government would have to ban peer-2-peer connections. Those bans can be avoided by VPNs and proxies. And it's practically impossible to ban them, unless you deny access to the Internet itself.
You r right but still it will be illegal
Legality is the politicians opinion enforced by guns.
People will preform agorism as they've always done. Heck, that was why the US was created, the people disagreed with the King's laws.