i disagree. it may be a tiny part of the reason but the main reason is because bitcoin is decentralized and can not be banned. not to mention that bitcoin's main usage has never been for anything illegal. if it were any other way then truly anonymous coins such as Monero would have been banned already, which is obviously not happening.
Bitcoin might be decentralized, but that doesn't make it non-bannable. It's as simple as declaring any Bitcoin tx a crime (or however it'd be called). Imagine a private network created by & for drug dealers - would it be left alone by intel because it's decentralized?
You could give me Tor as an counter-example, but how many of those using Tor do you think are really using it the right way leaving no identity trace behind? Most of those downloading it are using JavaScript and logging into their personal accounts through it. Now comparing Tor with a private network created by drug dealers, we're talking about the average Joe who is unconsciously accessing illegal sites (or falls in CIA's trap by paying for some "red rooms" or "hitman" fake services created by them to catch criminals) with drug dealers who obviously learn how to properly use the private network not to get caught.
Every little backdoor we leave makes it easier for the authorities to find out who you are and what's your business. I highly doubt that at least one intel agency from US doesn't have some software that makes identifying BTC users an easier job - something like an AI-powered blockchain analysis.. They have tech
decades more advanced than us, this could be as easy as 1-2-3 if they right now own the perfect tool to do this.
Monero is the best example you could've given: it's starting to lose ground, isn't it? It's a quite hot topic right now that
Monero is getting delisted from big exchanges and I doubt it's a decision taken by the exchanges' will. Look at what happens when you use CoinJoin and then place your money on an exchange - you get your funds locked, don't you?
It's because using these features the
right way makes you an almost invincible target for the intel agencies willing to see what's up with you.