Adam Back Slams Bitcoin VC Over Quantum Threat Concerns
Quantum Threats to Bitcoin: Adam Back, CEO of Blockstream, argues that fears regarding quantum threats to Bitcoin security are exaggerated, stating that such risks are 20-40 years away and Bitcoin's security is based on digital signatures rather than encryption.
Debate on Security Measures: The crypto community is divided on the need for post-quantum upgrades, with some experts advocating for proactive measures to protect Bitcoin holdings, despite no immediate market impacts following Back's statements.
Social Media Discussions: Ongoing discussions on platforms like X (formerly Twitter) reflect concerns about future-proofing Bitcoin's infrastructure against potential quantum computing threats, although no significant regulatory changes or financial shifts have been reported.
Expert Opinions: Experts emphasize that while quantum technology poses a long-term risk, Bitcoin's security is currently robust, relying on complex algorithms, and historical trends suggest a cautious approach to potential future threats.
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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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