A crypto exchange Crypto.com confirmed that hackers stole nearly $34 million during Monday's hack. In a Tuesday update, the exchange revealed that hackers stole 443.93 bitcoin ($18.7 million), 4835.25 ether ($15.2 million) and approximately $66,200 in USD. The company faced criticism over its communication after the incident. The company's CEO only confirmed the hack on Wednesday, three days after it took place. In total, the hack affected 483 users. However, Crypto.com said that they fully reimbursed all of them. The…
The bitcoin stock-to-flow model creator, Plan B, is confident that the coin’s price will stay around $10,000 after the halving. He is even more optimistic of its future price, expecting a gradual climb to the $100,000 model value by December 2020.
The stock-to-flow (S2F) model aims to make predictions of the Bitcoin (BTC) price based on its supply cuts. Many investors, however, criticize this, holding the view that BTCs price is rather demand-driven. Regardless of the criticism, a host of quantitative analysts are increasingly verifying and adopting this model.
Plan B views the upcoming May halving as having similar effects as the previous two due to a co-integration of the S2F and BTC price. He, however, gave a note of caution to investors, acknowledging that there is no guarantee of Bitcoin behaving as it did 12 years ago. However, it is a great bet even with a 10% chance of succeeding, according to him.
Options traders on the other hand hold some skepticism about the coin’s ability to start another major post halving rally. Data from Skew points to a tiny 4% chance that Bitcoin could reach new highs later this year.