Your topic and what it contains is a little different. You mean JP Morgan going back from not supporting bitcoin or supporting with there coin...
I suspect that any day China is going to declare its support for crypto and lift its ban even though we all know its working on blockchain projects in the background. It just means we have to wait longer for the price to go up I guess.
I rather would expect a major bull if China declares publicly, there turning around to endorse bitcoin. Chinese would immediately buy in and we know they have large population. This will bring increase demand.