If paypal accepting bitcoin, it will be a good news for both paypal and bitcoins. The price of bitcoin will increase for sure and many people will start using bitcoins.
Even if paypal allow direct deposit/withdraw to bitcoin worldwide there may not be much effect on price instantly however it will be really good news for bitcoin users because the shops which only used to accept paypal payment will also add standalone bitcoin payment system for sure. This may increase the use cases of bitcoin in daily life.