I will say it actually will depend in the country its being banned for example, if its banned in a country like mine, I wont see any effect its going to have on the price of bitcoin because the population here might not be able to make the impact couple with the fact that the infrastructure to keep it at that is something I dont see us having currently but for a country like USA or China or Russia then I see a crash that we might not recover from because in those countries to my understanding, when its banned then it will remain banned especially the United States.
Population is not equals how much bitcoins do you have. I can have a thousands of bitcoins, live in a remote area, and when I dump bitcoins, the price will move significantly. You might think that you're just a thousand of bitcoiners in your country or maybe even less than that, but what if someone amongst you holds a lot of coins?
Bitcoin getting banned will lead to a lot of people from all over the world sell their coins. They would think that they wouldn't risk going to jail just to earn a couple of centavos in the bitcoin world. Personally, I'd sell my coins if by the time it got banned I'm not still earning much here. Regular people like me might not affect the price to go down as much as when Chinese people sell their coins, but when we backed off from using bitcoins, that will postpone or prolong the process of bitcoin mass adoption. That mean we would still indirectly affect the bitcoin price.
