KuCoin $200M Hack || PlanB S2F Is Inaccurate!? || Bitcoin Decoupling from Traditional Finance
Hello and welcome to this video discussing the recent KuCoin hack, the accuracy of PlanB’s Stock-to-Flow model and the decoupling of Bitcoin from traditional finance.
On September 26th, KuCoin, one of the largest cryptocurrency exchanges, suffered a massive security breach in which hackers made off with over $200 million worth of Bitcoin, Ethereum, and other digital assets. In response to the hack, KuCoin froze all affected accounts and launched an investigation in order to return the stolen funds to their rightful owners.
The news of the KuCoin hack has sparked renewed discussion about the accuracy of PlanB’s Stock-to-Flow model. For those unfamiliar, the Stock-to-Flow model is a popular Bitcoin price forecasting tool which uses data on the supply of Bitcoin relative to the rate at which new coins are being mined.
The model has been widely discussed due to its impressive accuracy in predicting Bitcoin price movements. However, some have argued that the recent KuCoin hack is proof that the model is inaccurate.
Finally, the recent news of the KuCoin hack has also sparked discussion about Bitcoin’s decoupling from traditional finance. Historically, Bitcoin has been closely correlated to traditional markets due to its status as a risk asset. However, the news of the KuCoin hack has caused Bitcoin’s price to remain relatively stable, indicating that it may be decoupling from traditional finance.
Overall, the recent KuCoin hack has sparked renewed discussion about the accuracy of PlanB’s Stock-to-Flow model, as well as Bitcoin’s decoupling from traditional finance. Ultimately, only time will tell how these issues will play out in the future.