Bitcoin [BTC] may be destined for bull run despite Chinese crackdown

China's central bank, People's Bank of China [PBOC] has vowed to penalize Bitcoin and crypto-related businesses. Continuing its tough stance, the bank declared all activities such as trade offering, order matching, issuance of tokens and derivatives as illegal. The latest move by the Chinese authorities reflects a similar event that transpired four years back. Bitcoin proponent, Lark Davis shared the same view. In his tweet, Davis drew parallel to the previous event of China banning ICOs and the present crackdown on Bitcoin and crypto-related activities and speculated that a bull run could be just around the corner. Exactly four years…