As quantum computing becomes more prevalent in our lives, it reportedly poses a significant threat to Bitcoin (BTC). It has been argued that quantum computing could one day undermine the cryptographic infrastructure that protects trillions of dollars in crypto assets.
At this point, the debate was reignited yesterday when Google announced a new chip called Willow developed in the field of quantum computing.
Analysts have warned that quantum computing could crack Bitcoin’s code within two to eight years, including crypto analyst Charles Edwards.
Charles Edwards said he once believed that future Bitcoin bear markets would gradually moderate as the market matures, but he has now changed his mind.
At this point, Edwards said that the quantum threat is now a very important and serious threat to Bitcoin.
Edwards warned that if the quantum threat is not resolved soon, perhaps next year, Bitcoin and cryptocurrencies could face the biggest bear market in history.
“I think future Bitcoin bear markets will have even lower lows. But if we don’t solve the quantum problem next year, we will probably experience the biggest bear market in history.”
*This is not investment advice.
