**Serious BlackRock Bitcoin Warning Fuels 'Disaster' Fears As The Price Suddenly Dives**

The cryptocurrency market has been on a rollercoaster ride over the past month, with prices swinging wildly as traders brace for further price shocks. Just days ago, Bitcoin topped $105,000, only to plummet back towards $100,000 after a sudden surge fueled fears of a U.S. dollar collapse. But what's behind this sudden drop? And could it be related to a warning issued by the world's largest asset manager, BlackRock?

**A Warning from the Industry Giants**

BlackRock's chief executive, Larry Fink, has become one of the most bullish pro-bitcoin voices on Wall Street, helping to drive up prices. However, in an amended regulatory filing for its bitcoin fund, BlackRock issued a serious warning about quantum computing: "If quantum computing technology is able to advance [...] it could potentially undermine the viability of many of the cryptographic algorithms used across the world's information technology infrastructure, including the cryptographic algorithms used for digital assets like bitcoin."

**The Risks of Quantum Computing**

Quantum computing has been making strides in recent years, with tech giants like Google's Alphabet making significant breakthroughs in research. However, experts warn that if a company or government is able to create a fully-fledged quantum computer, it could be used to bypass the encryption that secures the blockchain technology underlying cryptocurrencies like Bitcoin.

"If quantum computing technology is able to advance [...] it could potentially undermine the viability of many of the cryptographic algorithms used across the world's information technology infrastructure," BlackRock's warning reads. This means that if a hacker were able to create a powerful enough quantum computer, they could potentially crack the encryption used by Bitcoin and other cryptocurrencies, rendering the network vulnerable to a devastating hack.

**The Fallout**

So what does this mean for investors? According to James Seyffart, ETF analyst with Bloomberg Intelligence, such a warning is "completely standard." However, experts warn that the blockchain sector is sleepwalking into a disaster if it doesn't take steps to address the risks of quantum computing. "Finance giants know the risk is there—BlackRock flagged the risk of quantum computing to bitcoin just this week," David Carvalho, chief executive of decentralized post-quantum infrastructure blockchain Naoris Protocol, said in an email.

**The Bitcoin Price Plummets**

As a result of BlackRock's warning, Bitcoin prices have plummeted back towards $100,000. Some experts warn that if the market doesn't take steps to address the risks of quantum computing, the price could drop even further. "At this point, no blockchain is ready to withstand a quantum attack when this becomes possible, which could very well be much earlier than 2030," Carvalho said.

**The Verdict**

In conclusion, BlackRock's warning about the risks of quantum computing has sent shockwaves through the cryptocurrency market. While some experts view such warnings as standard procedure, others warn that the blockchain sector is sleepwalking into disaster if it doesn't take steps to address these risks. As investors and traders continue to navigate this complex and rapidly evolving landscape, one thing is clear: the future of Bitcoin and other cryptocurrencies depends on our ability to stay ahead of the curve.

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