Bitcoin cannot REALLY be banned, its P2P so they can't shut down one person and expect the whole network to go offline.
Yeah, that's totally true. "Banning" Bitcoin is just like Banning the internet, which means no one would do that.
They won't ban Bitcoin. They will ban the services who accept/trade BTC. They can ban the exchangers or they can request the exchangers to have financial licenses which is a must, IMO.
Also, a financial license is almost equivalent to a ban because only few companies can afford to comply with all the financial laws and to have a lot of money to sustain a licensed company.