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As quantum computing becomes increasingly integrated into our lives, it is being described as posing a significant threat to Bitcoin (BTC). It is argued that quantum computing could one day undermine the cryptographic foundations that secure trillions of dollars worth of crypto assets.
While some analysts argue that the quantum threat is imminent and should be taken into account, others argue that it is exaggerated and that it will be a long time before the threat emerges.
As discussions about quantum physics continue, a warning has come from Charles Edwards, the founder of the US-based cryptocurrency investment company Capriol.
According to Charles Edwards, if Bitcoin fails to achieve quantum resilience, it could fall below $50,000 by 2028.
Bitcoin Could Fall Below $50,000!
Charles Edwards drew attention to the dangers of quantum computing, a topic that has become a frequent subject of debate recently.
Edwards, in a post from his X account, argued that if no measures are taken against quantum technology by 2028, the price of Bitcoin could fall below $50,000.
Edwards noted that some people take the quantum danger as a joke, and warned that a massive bear market would occur if the danger is not recognized.
Edwards also stated that while some believe the quantum threat might come many years from now, it is actually very close, possibly as early as 2028, and that the price of Bitcoin could fall if the sector doesn’t act quickly enough.
“If no measures are taken against quantum technology by 2028, I predict that the price of Bitcoin will fall below $50,000 and will continue to fall until this threat is corrected.”
We absolutely must resolve this next year. Otherwise, Bitcoin and the cryptocurrency market will face the biggest bear market in history.
“FTX will seem like child’s play compared to this.”
Cryptocurrency expert and macroeconomist Luke Gromen shares similar views, arguing that cryptocurrencies like Bitcoin could be the primary targets of quantum technology attacks. Gromen stated that quantum computers could threaten the entire cryptocurrency ecosystem and affect Bitcoin’s price in the medium to long term.
*This is not investment advice.