Trade war will put pressure on the Yuan and Chinese people will try to get their money outside their country. Due to capital controls they will resort to putting their money into crypto to move their wealth and preserve it from yuan devaluation.
Right now less than 1 Chinese out of 1000 have cryptos.. would they jump into it in masse, this could create an unprecedented demand for bitcoin.
In the past, in times of trade wars, hard assets have done much better than currencies. Traditionally, gold has done well in times of turmoil. But you know what, now we have bitcoin. Bitcoin has a fixed supply. It acts exactly like a hard asset, exactly like a commodity. In the trade war, it does well. I think for BTC an alternative store of value it still needs a baseline value grounded in USD for the moment, but either way, I should probably rebalance a bit into BTC from Gold/ETH. We also have to also look at Trump and what policies he will say in relation to trade wars, since he has a huge influence especially with the US.