Bitcoin (BTC) may face a catastrophic crisis if panic occurs among owners. These conclusions were drawn by crypto analyst Justin Bons after studying the peculiarities of the cryptocurrency network.

What's wrong with Bitcoin

The maximum throughput of Bitcoin is around 7 transactions per second (TPS), which is equivalent to approximately 18.1 million transactions per month. By 2023, the number of on-chain BTC users has exceeded 33 million. If all users were to simultaneously decide to withdraw their funds, they would simply face a system failure.

Even without other operations, most transactions would get stuck in the queue. In the event of a panic, the situation would worsen due to a sharp spike in fees.