Why make it illegal if you could just regulate it and get taxes from people who make money with Bitcoin?
That's a whole lot of revenue for the government that they would be missing out on if made illegal.

But Bitcoin is actually also illegal in a couple of countries: https://atozforex.com/news/top-countries-where-bitcoin-is-illegal/

I beleive that many governments and banks have changed their attitude towards Bitcoin, it's not anymore so hostile as it used to be. They figured out how they can have use of Bitcoin too and they are very well aware that it's not possible to make it illegal. They accepted it as something inevitable and they don't want the war against Bitcoin anymore.

I'm not so optimistic as you are. They can make BTC mining, trading, etc a crime as it is a real threat to their power whatever the money they can make on it from regulation ! FIAT money is the way governments have controlled us since the middle age ! BTC and altcoins and blockchain is to me the end of central authorities and therefore governments/banks/big institutions.

I don't think they will be ready to leave us free !

But yeah, some "emerging econony countries" could take advantage of a possible ban in "developed countries"  making people shift their BTC-related activities in these countries.

It is clearly not black or white ! But This uncertainty is the last point that makes me fear to fully invest time/effort/money in BTC/altcoins.

Share your opinions ! I'll be happy to learn from your positions !

First of all, banning Bitcoin is something that democratic countries can't do openly. It would create social unrest.
Bitcoin is groundbreaking new technology and not something evil or harmful - putting Bitcoin on the same level as drugs is idiotic.
Instead of being banned I imagine that bitcoin will be embraced and heavily regulated to eliminate any kind of 'illegal activity'.

Because they do not have the power to do so. Each government has their own sovereignty and jurisdiction and imposing an ILLEGAL label to Bitcoin worldwide is impossible unless all government in the world make the same move. However, some country/government acknowledges the worth of Bitcoin so it will be difficult to make Bitcoin to be illegal on a worldwide scale. Regardless of the threat Bitcoin gives to banking system, they just can't touch Bitcoin.

I feel that the majority of the countries around the world do not view bitcoin as a threat, but instead they see it as something revolutionary. Time has proven that and more and more governments are beginning to understand its value. They would still like to regulate it though and impose a few restrictions here and there. In the worst case scenario, if they do indeed decided to ban it, it would provoke a huge negative response from the public which would damage their reputation and their chance to preserve their government which means that this possibility is highly unlikely.

They can't. Even if they do, btc will become a black market industry, and people would still use it nevertheless.

Its still very early, even for the governments to judge whats the best option for them... It could end up benefiting them more to support and regulate it, collecting taxes or something... Only the future will tell

If we talk about democratic countries, making bitcoin illegal is not what they want to make. Mostly countries don't see danger in btc. Only thing what they want to do - regulate bitcoins. Let's say that you received profit from btc - you have to declare it, pay taxes and etc. But make bitcoin illegal worldvide? Why they need to go in such radical way?