The Latest Crypto Price Dip Is Fueled By Fake News Relating to Quantum Computers

[nasipadang]

The role of the media is now more to worsen the conditions, they just need an audience and profit. Even though there is no connection between quantum computers and the decline in bitcoin. That's why the media often use click bait for each of their titles, just for the attraction and center of attention for their media.

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[Hydrogen]

there is no connection between quantum computers and the decline in bitcoin.

The latest drop in BTC below $7,500 coincides with media sources re-publishing this old story about google "achieving" quantum supremacy from september 20th 2019. The drop in BTC to $8,000 in september coincides with the original publishing of the story.

You can say its all coincidence. But I think we could see future drops in BTC price when "further developments" on quantum computers are published. When the price of bitcoin spikes, they publish fake news about tether being a conspiracy to keep bitcoin's price contained. They've done this for the past 2-3 years.

Bitcoin price movements aren't motivated by natural market mechanics as much as political agendas.

[fiulpro]

I don't think it has anything to do with quantum computers since even if there is a thing that could actually hack into everything there will still be legal issues , do you see hackers running around free ? no ! The government sentence them according to their cyber crime , that's why they teach you ethical hacking !
We should understand that it was possible since time immemorial to hack into our accounts and all therefore now everyone will purchase the computers and Target you !
It cannot be that people are this stupid to sell off just because of this.

[Hydrogen]

It cannot be that people are this stupid to sell off just because of this.

Market analysis is determined by the least common denominator. Traders don't base future market projections on what they expect the most intelligent and most knowledgeable trader will do. Its always the opposite of that. Market reactions are always based on worst case scenarios to protect investments and mitigate risk.

When whales look at markets whether its bitcoin, equities, futures, penny stocks or whatever. They always ask: "how will the least intelligent, educated and knowledgeable trader react to this". And that is typically the basis they use for determining what the proper market reaction should be.

Feel free to disagree, I 100% don't mind. But please remember events which do not directly affects markets or stocks like the 9/11 World Trade Center bombings crashed the US stock market to an extreme degree. Its not necessarily the direct impact that matters but rather the psychology and worst case scenario.

[Wysi]

I don't think it has anything to do with quantum computers since even if there is a thing that could actually hack into everything there will still be legal issues , do you see hackers running around free ? no ! The government sentence them according to their cyber crime , that's why they teach you ethical hacking !
We should understand that it was possible since time immemorial to hack into our accounts and all therefore now everyone will purchase the computers and Target you !
It cannot be that people are this stupid to sell off just because of this.

I agree with you as it's the stupidity to blame any third part for the dip in the value of bitcoin and rather it's a blunder from users if they sell off bitcoin due to these FUD and I would say we need to cash out only if it's some sort of emergency and we all are aware bitcoin will not die but value will fluctuate and we need to learn the lesson as I have learned it hard way by selling it off around $5k then in couple of month it bounced back to $13k.

[EdenHazard]

Feel free to disagree, I 100% don't mind. But please remember events which do not directly affects markets or stocks like the 9/11 World Trade Center bombings crashed the US stock market to an extreme degree. Its not necessarily the direct impact that matters but rather the psychology and worst case scenario.

I see what you mean .. there's no such thing as coincidence , everything that happens is the result of something else movement. We just need to collect the data as much as possible ( in this case .. analyzing what's going on with bitcoin market getting drop ) a sudden fall right after Google claims major breakthrough in quantum computing... is so relatable in fact that the quantum computer pretty clear threatening cryptography system which is cryptocurrency and bitcoin itself is in it, a serious security breach awaits... that's the concern isn't it?

Nobody can judge that it's not the 'quantum computer' factor ... causing the market fall or just the reverse.

[kapalmabur]

I don't think it has anything to do with quantum computers since even if there is a thing that could actually hack into everything there will still be legal issues , do you see hackers running around free ? no ! The government sentence them according to their cyber crime , that's why they teach you ethical hacking !
We should understand that it was possible since time immemorial to hack into our accounts and all therefore now everyone will purchase the computers and Target you !
It cannot be that people are this stupid to sell off just because of this.

maybe they are panicking, or this is a whale game !, you know that Bitcoin is now very popular and many want to drop it,
especially from the government does not support 100% for Bitcoin, I have read an article that quantum computers will affect Bitcoin,
one of which is death Bitcoin, but I just don't believe it

[tbterryboy]

Nah man, Quantum Computing is no longer a theoretical subject, there are a few companies that are working with Quantum computers right now and these includes IBM, Google, D-wave, IonQ, and Rigetti. Google have achieved that for sure and I think they were the first to achieve because I remember a tweet that they were testing out the Quantum computer with NASA and it was called the 'D-wave 2', D-wave the Quantum computing company was also part of the test program.

So this is no joke, it's real! Quantum computing has been achieved. For now , I think it's only companies that have been getting their hands on it, maybe by next two years individuals will be able to access it.

[kotik085]

Do not forget that a quantum computer will come and can harm bitcoins and cryptocurrencies. We must take steps today to ensure security. I think that the scientists who created the crypto will gather.