{"id":47783,"date":"2023-04-03T04:19:38","date_gmt":"2023-04-03T04:19:38","guid":{"rendered":"http:\/\/egrowonline.com\/?p=47783"},"modified":"2023-04-03T04:19:38","modified_gmt":"2023-04-03T04:19:38","slug":"bitcoin-copying-familiar-price-trend-in-2023-two-more-metrics-show","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=47783","title":{"rendered":"Bitcoin copying \u2018familiar\u2019 price trend in 2023, two more metrics show"},"content":{"rendered":"


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Bitcoin (BTC<\/a>) is on the road to a new bull market and should deliver serious returns in the process, fresh analysis reveals.<\/p>\n

In a tweet<\/a> on April 2, Charles Edwards, founder of Bitcoin and digital asset hedge fund Capriole Investments, flagged a \u201cfamiliar\u201d bull signal on the SLRV Ribbons metric.<\/p>\n

Edwards: SLRV beginning \u201cnew trend\u201d<\/h2>\n

SLRV Ribbons is a tool for measuring potential Bitcoin profitability. Put forward by Capriole in 2022, it is based on the Short-to-Long-term Realized Value (SLRV) Ratio from well-known analyst David Puell.<\/p>\n

The SLRV Ratio takes the percentage of the BTC supply active in the last 24 hours and compares it to that last active six to 12 months ago. The result shows how comparatively active short-term supply and long-term supply are at a given point.<\/p>\n

From this, an investor can gain an insight into both sentiment and likely price trajectory, but over time, such supply values may change, Edwards argues.<\/p>\n

Related: Crypto winter can take a toll on hodlers\u2019 mental health<\/a><\/em><\/strong><\/p>\n

SLRV Ribbons attempts to address this by analyzing the interplay between two moving averages. When its short-term 30-day MA crosses over the long-term 150-day MA, Bitcoin is at the start of a bullish phase.<\/p>\n

The metric \u201cis about as simple as gets\u201d when it comes to reliable Bitcoin analytics tools, Edwards explained in an introductory blog post<\/a>,\u00a0and is currently repeating classic bullish behavior with a crossover taking place in early 2023.<\/p>\n

\u201cA new trend in SLRV ribbons, and it looks familiar,\u201d he summarized.<\/p>\n

Bitcoin SLRV Ribbons annotated chart. Source: Charles Edwards\/ Twitter<\/em><\/figcaption><\/figure>\n

While relatively new, Edwards added that SLRV Ribbons had been backtested to show both its reliability and capability to improve BTC investment returns versus buying and holding.<\/p>\n

Bitcoin is still \u201ccheap\u201d<\/h2>\n

SLRV is not the only Bitcoin metric giving Edwards a sense of deja vu this month.<\/p>\n

Related:\u00a0BTC price targets fix on $35K as Bitcoin eyes \u2018massive\u2019 liquidity squeeze<\/a><\/em><\/strong><\/p>\n

The Bitcoin Yardstick, previously covered<\/a> by Cointelegraph, reveals a recovery in Bitcoin market cap versus hash rate but still classifies BTC as \u201ccheap\u201d at current prices.<\/p>\n

\u201cThe Bitcoin Yardstick is painting a very familiar signature to the 2019 lows,\u201d Edwards commented on March 31.<\/p>\n

After exiting the \u201ccheap\u201d zone early that year, BTC\/USD then only saw one brief return during the March 2020 COVID-19 cross-market crash.<\/p>\n

\"\"
Bitcoin Yardstick chart. Source: Charles Edwards\/Twitter<\/em><\/figcaption><\/figure>\n

The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) is on the road to a new bull market and should deliver serious returns in the process, fresh analysis reveals. In a tweet on April 2, Charles Edwards, founder of Bitcoin and digital asset hedge fund Capriole Investments, flagged a \u201cfamiliar\u201d bull signal on the SLRV Ribbons metric. Edwards: SLRV beginning \u201cnew trend\u201d […]<\/p>\n","protected":false},"author":1,"featured_media":47784,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[40],"tags":[50,10726,1673,1373,195,2554,654],"class_list":["post-47783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","tag-bitcoin","tag-copying","tag-familiar","tag-metrics","tag-price","tag-show","tag-trend"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/04\/76b707f3-0ed1-41eb-8a65-dbfa78fd6c30.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/47783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=47783"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/47783\/revisions"}],"predecessor-version":[{"id":47785,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/47783\/revisions\/47785"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/47784"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47783"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}