Quantum Computing Threat Looms Over Bitcoin Price

Bitcoin's price could plummet below $50K if the network fails to develop quantum resistance by 2028, warns Charles Edwards, founder of quantitative Bitcoin fund Capriole.

Edwards emphasized that a major bear market might be necessary to motivate network upgrades and eliminate those dismissing the quantum threat as insignificant.

The industry needs to move quickly to address the emerging threat, according to Edwards, who expects Bitcoin will trade below $50K and continue falling until developers deploy a solution.

He stated that without a fix next year, Bitcoin faces the biggest bear market in history, which would make the FTX collapse look minor by comparison.