That may well happen unless the US government does something effective against Bitcoin provided that it can. Considering that Bitcoin is mined all over the world and largely in powerful countries that are geopolitical rivals of the USA I don't think it will be possible for the US government to kill Bitcoin. The worst case scenario is for it to ban the use of Bitcoin in the USA and pressure its allies into doing the same in their countries. That would send the market cap of BTC tumbling down but it wouldn't stop it.

Very interesting times ahead indeed. The world is becoming multi-lateral economically and thus geopolitically. That's simply because the USA is losing its share of of the world economy as the rest of the world grows faster. The US contribution to world economy has fallen from 40% in 1960 to 22% in 1914.