As quantum computing becomes increasingly prevalent in our lives, it is reportedly a significant threat to Bitcoin (BTC). It is being argued that quantum computing could one day undermine the cryptographic foundations that secure trillions of dollars in crypto assets.
At this point, this debate was rekindled yesterday after Google introduced its new chip, named Willow, developed in the field of quantum computing.
Analysts warn that quantum computing could break Bitcoin's encryption within 2 to 8 years, with one warning coming from crypto analyst Charles Edwards.
Charles Edwards said that he once believed that future Bitcoin bear markets would become milder over time as markets mature, but that has now changed.
At this point, Edwads stated that now Bitcoin has the quantum threat as a very important and serious threat in front of me.
Edwards warned that if the quantum threat is not resolved soon, possibly as early as next year, Bitcoin and cryptocurrencies could face their biggest bear market ever.
“I would think future Bitcoin bear markets would have lower lows. But if we don't solve Quantum next year, we'll likely experience the biggest bear market in history.”
*This is not investment advice.
