Adam Back Claims Quantum Computing Poses No Threat to Bitcoin
Quantum Computing and Bitcoin: Discussions about "Q-Day," when quantum computing could potentially compromise Bitcoin's security, have resurfaced amid market volatility, but experts believe this threat is far off.
Expert Opinion: Adam Back, a prominent figure in Bitcoin development, asserts that quantum computing is not a near-term risk and that it will take at least 20 to 40 years for the technology to threaten Bitcoin's cryptographic foundations.
Security Measures: Back emphasizes that the Bitcoin network has existing post-quantum signature schemes and will undergo multiple upgrades before any quantum threat becomes realistic, allowing for a planned transition rather than a last-minute scramble.
Market Dynamics: The narrative around quantum threats often emerges during price downturns, which can create panic among investors, but Back reassures that Bitcoin has time and options to address any future risks.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 35997.598 | 47998.799 | 60267.618 | 72268.819 | 84537.638 | 96538.839 | 108807.658 |
| Fibonacci | 47998.799 | 57269.947 | 62997.671 | 72268.819 | 81539.967 | 87267.691 | 96538.839 |
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