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.
In terms of the global pandemic of 2020 that amidst it still bitcoin market surged high like you said, true it did and that's because there was a huge cooperation all over the globe from both international organisations to countries and individuals against a common enemy the COVID-19 but in a war situation the conditions are different on the people. In a situation of a global war bitcoin would not stand a benefiting chance in the sense that respective countries and even individuals also would be pulling out their investment suddenly each to their own welfare and sustainability.
And it's likely that countries that have investment in bitcoin would pull those investment off to use the proceeds to strengthen herself military-wise, while on the other hands individuals would need money to be able to stuck foodstuffs and others needs of sustaining themselves throughout the war period. All of these actions would rather be negative to bitcoin price falling drastically and there's no benefits in that case.
I agree that the case with pandemic is very different from war. People are shut in their house during the pandemic but the infrastructure are intact and they have continues connection of internent. People are also exposed to being online since they have more time to browse the internet and learn things that they don't understand. Besides, people are looking for an alternative income so it is also the possibility why Bitcoin did not crash during the pandemic. While when there war, the destructive effect of bombing can destroy facilities that may halt the service of internet providers. If that happen it is obvious that Bitcoin market will be negatively affected.
Ther might be a crisis and a food shortage is very possible. People instead of putting their money on Bitcoin will rather use it to buy necessities for survival.
The world has been facing economy crises, and the Russian and Ukraine war has made it to effect Bitcoin price, during the last Bull Run was dropped as the results of war, actually Bitcoin is gradually growing back, which all eyes is on Bitcoin as number one cryptocurrency digital assets.
I don't see how the Russia-Ukraine war had any effect on the price of Bitcoin knowing none of these two regions are too popular for Bitcoin adoption nor do they have accepted Bitcoin as a legal tender or something, and when something is not even closely related to another thing, I don't see how anything bad or good happening with the first thing can have any negative or positive effect on the other thing.
If Bitcoin was being widely used in Ukraine and then the internet and everything gets disrupted and people stop using Bitcoin all of a sudden or sell everything they had due to the war then that might have affected it, but I don't think anything like that happened.
Yes that's true, even something big happened i think bitcoin still survive no matter what happens on this world execpt meteor has coming to destory earth
We all know the moment of bullrun comes when something happening like covid in 2021. which is bitcoin continue growing with positive vibes at negative issue on this world. reality and crypto is different thing that can't be related to each other because bitcoin is solution as safe asset and not affected by crisis economy. I hope in the next year tren bitcoin will hype again
As long as there is a single entity/unit that is mining the chain, Bitcoin will continue to operate even if it is an apocalypse. Bitcoin operation only stops when all the miners shut down. Bjut obviously market will behave in a different way.
