There are only two outcomes. If there is a severe economic crisis, people will either sell all of their Bitcoins to have a money for food and utilities or they'll buy Bitcoins with the hope that it's the only thing that will help them to financially escape.
I'm afraid the first one is going to happen.
People will sell bitcoin not just to buy food or utilities, they will sell all risky assets and seek safe havens to protect their assets if the war gets worse and the economy falls into crisis. That was bound to happen, and the clearest evidence was when news of the US bombing Iran’s nuclear facilities made the world more nervous and the price of bitcoin fell below $100k.
Update: today there is a ceasefire and bitcoin price quickly recovered, this is positive news but this makes it more clear that the world still does not consider bitcoin as a safe haven. Bitcoin only goes up on positive news and down on negative news, this is not how safe havens work.
This is a very interesting topic to discuss. If there is a severe economic crisis, believe me that instincts will revive us and majority of people will start selling every asset they have because they'll be in panic but this is definitely the moment that some smart people can use for their own benefit. By the way, what is a safe asset during the war if you live in a country that's getting bombed? If you buy a gold, your gold might become dust with you in that country but if you escape and move in a safe-zone country, then there are opportunities. To my mind, the best investment during war is (let's pretend you won't be bombed and killed) gold, pharma stocks and weapon manuacturers' stocks.
