Bitcoiners reject quantum computing fears as cause of price slump

Some Bitcoiners are “highly skeptical” that quantum computing is to blame for Bitcoin’s sideways price action, while others argue it’s a major issue.

Bitcoin backers have minimized claims that fears around quantum computing being a threat to the cryptocurrency sooner than expected are dragging on its price.

Glassnode lead analyst James Check said in an X post on Thursday that linking Bitcoin’s price to quantum computing fears “is akin to blaming market manipulation for red candles, and declining exchange balances for green ones.” 

Check argued that while quantum computing may be “keeping some capital away” from Bitcoin (BTC), the weakness in Bitcoin’s price performance has been driven far more by heavy selling from long-term holders. 

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