In a nostalgic tweet, PlanB has reminded his followers of the primary symbols of the four Bitcoin (BTC) ‘stock-to-flow’ stages and demonstrated how they correlate with BTC price dynamics.
Road to $1,000: pizza, scandals, GPU mining
According to PlanB, the first two phases of the ‘Stock-to-Flow’ price progress model occurred between the release of the Bitcoin (BTC) protocol and the first reduction of miner rewards.
Mining on GPUs, the ‘Bitcoin Pizza’ deal with Laszlo Hanyecz and the involvement of the flagship cryptocurrency in the rise of Silk Road are among the symbols of this phase. In terms of price, all these crucial events occurred in sub-$1 waters.
Then, Bitcoin (BTC) reached the $1 level for the first time. During the second phase, the first crypto-to-fiat exchange Coinbase was launched and the first blockchain-based game Satoshi Dice was released.
The interval between $100 and $1,000 was marked with the emergence of Bitstamp, the arrest of Silk Road’s Ross Ulbricht and the tragedy of the MtGox collapse.
Standing at the threshold of the fifth Bitcoin (BTC) phase
Within the fourth ‘S2F’ phase, the Bitcoin (BTC) price entered four-digit waters. Adoption and legalization symbolized the first years of this stage. Bitcoin (BTC) was legally recognized in Japan and Australia.
In terms of technology, Bitcoin (BTC) went through its most popular forks (BCH and BSV), implemented Segregated Witness and Lightning Network to scale and the first Bitcoin (BTC) futures became available for trading.
The last periods of the fourth stage witnessed the ICO bubble and a rise of altcoins.
Thus, this May represented the start of Bitcoin's (BTC) fifth epoch. According to PlanB, the price of the king coin may surge to above $100,000 in the current ‘S2F’ stage.