Quantum fears aren’t behind Bitcoin’s 46% drop, says developer
Bitcoin developer Matt Carallo says Bitcoiners are looking to “blame something” for the asset’s sluggish price, dismissing quantum fears as the culprit.
Bitcoin’s recent sell-off isn’t due to quantum computing fears, because if that were the case, Ether would be soaring, says Bitcoin developer Matt Carallo.
“I strongly disagree with the characterization that Bitcoin’s current price is materially, because of some kind of quantum risk,” Carallo told journalist Laura Shin on the Unchained podcast on Thursday.
“If that were true, then Ethereum would be up substantially on Bitcoin,” he added. Ether (ETH) is down 58% since a major crypto market crash in early October, trading at $1,957 at the time of publication.