Bitcoin and Quantum Computing: The Threat Remains Distant for Decades
Adam Back's Critique: Blockstream CEO Adam Back has dismissed concerns about quantum computing threats to Bitcoin as exaggerated and criticized venture capitalist Nic Carter for spreading what he calls "uninformed noise" within the community.
Diverging Views on Quantum Risks: The debate highlights a split in the Bitcoin community, with some members advocating for public discussions on quantum risks while others believe such discussions create unnecessary fear.
Carter's Position: Nic Carter argues that many Bitcoin developers are in denial about the potential risks of quantum computing, citing his investment in Project Eleven as a proactive measure to address these concerns.
Future Threat Timeline: Experts are divided on the timeline for quantum threats, with some warning that Bitcoin could face risks within two to nine years if it does not adopt quantum-resistant cryptography, while others believe the technology is still in its infancy and not an immediate concern.
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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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