Quantum Computing Threatens Bitcoin Security
- Quantum Threat Warning: Project Eleven CEO Alex Pruden warned Bitcoin developers at the Consensus conference in Miami about the imminent threat posed by quantum computing, urging immediate action to safeguard Bitcoin.
- Security Framework Necessity: Pruden highlighted that approximately $2.3 trillion worth of Bitcoin is currently vulnerable to quantum computing, necessitating the adoption of a new security framework to replace the existing ECDSA signature structure to avert potential massive losses.
- Transition Challenges: He stated that the transition to post-quantum security for Bitcoin will be more complex than the Taproot upgrade, requiring participation from holders, wallets, exchanges, and institutions, emphasizing the importance of starting this process as soon as possible.
- Quantum Cracking Competition: In a recent competition by Project Eleven, researcher Giancarlo Relli successfully cracked a 15-bit elliptic curve encryption using a quantum computer, earning 1 Bitcoin as a prize, demonstrating the potential of quantum computers to break Bitcoin's encryption methods.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 2 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR 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 crypto.
Support, Resistance & Moving Averages. From a structural perspective, MAJOR 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 $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0172 | 0.0251 | 0.0302 | 0.0381 | 0.0432 | 0.051 | 0.0562 |
| Fibonacci | 0.0251 | 0.03 | 0.0331 | 0.0381 | 0.043 | 0.0461 | 0.051 |
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