Most of us believe that if there is a conflict, the price of Bitcoin and other cryptocurrencies will plummet. But that is not true, because in 2020, there is a global pandemic that severely damages our economy, but what happened in Bitcoin that time? Price hikes have caused an abrupt surge in the market, indicating that there is a lot of demand. As you can see from the chart, it reaches an all-time high. As a result, I believe that if there is a war, it may be beneficial or detrimental to crypto.
You are right but the truth of the matter is, such global crisis will definitely affect the price of Bitcoin for a while before Bitcoin will build it liquidity around it to push it price above the situation resistant conditions, take for example, in the early stage of the 2019-2020 covid pandemic, the price of Bitcoin and other digital assets suffered a price fall greatly, and if you can take the time to check the price chart at that time you will see that Bitcoin price fall significantly.
But then that does not stop Bitcoin from reaching and all time price in the same year due to the fact that, in the middle of the global crisis where there was a lot of restriction, online payment become the only option and Bitcoin and other cryptocurrencies that offers trance border transfers become the best alternative in the middle of the economic and financial crisis that came along with the pandemic, and that single reason pushed the price of Bitcoin to reach a new all time high due to high demands.