What's going to happen to cryptocurrencies or specifically bitcoin if World War 3 is going to happen? That's the first issue I think pop-ups because of a lot of headlines about the US-Iran war.
The government will usually focus on manufacturing in war materials in the war culture, and most likely some countries' economic status will go down and some will go up.
I think this war's effect for the cryptocurrency is when the war ruined the internet, which is the global network, where even the cryptocurrency is reliant on most citizens. Most of the business we're running on the internet today, all of the company's important files are also uploaded to secure internet storage. The internet is the most powerful invention and most of the devices today rely on the power of the internet. Due to the internet, even the blockchain network is processing because there is no possibility that the chain network will run on its own without the internet.
I'm not finished yet...
Basically, if there's a war, most people will die, do you think they're going to end up thinking about their cryptocurrency investments? No!
The importance of cryptocurrency at that time will actually fade and the market will fall. All of the people will just worry about the biggest problem which is the war.
Okay, all this was my view only when the US and Iran have a massive war so what's yours?
You seem to ignore the fact, that Internet was specifically built to withstand a nuclear war. There is no single point of failure, there is no specific target you can hit to "stop" internet. Sure you could cripple it down, but it would be restored.
Bitcoin will keep working as long as there is a node running somewhere. I agree Bitcoin needs the internet, for the most part (it IS theoretically possible to make it work in another network), but i don't agree a war, and much less a war between two countries, can "destroy" internet. Iran cannot harm America, at least not to the point of total annihilation, but America can subjugate Iran at great cost.
Suppose you magically disappear the USA an IRAN, does Internet stop? NO. It would slow down, but it would be restored. Same with Bitcoin. Of course it will suck to the people of those countries, especially the ones getting bombed, but after its over things will go back to normal. You can take a look at Iraq, which was the place were this latest event occurred.
If these two countries go to war, most of the world would be unaffected. Heck my country has more relations with Iran than the USA, yet we have zero capacity to intervene militarily in anyway (and Trump would love the excuse to bomb us as well, as he promised but never did).