{"id":11269,"date":"2023-04-02T16:42:46","date_gmt":"2023-04-02T16:42:46","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=11269"},"modified":"2023-04-02T16:42:46","modified_gmt":"2023-04-02T16:42:46","slug":"bitcoin-copying-familiar-price-trend-in-2023-two-more-metrics-show","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=11269","title":{"rendered":"Bitcoin copying &#8216;familiar&#8217; price trend in 2023, two more metrics show"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Bitcoin (BTC) is on the road to a new bull market and should deliver serious returns in the process, fresh analysis reveals<\/p>\n<p>In a tweet on April 2, Charles Edwards, founder of Bitcoin and digital asset hedge fund Capriole Investments, flagged a &#8220;familiar&#8221; bull signal on the SLRV Ribbons metric.<\/p>\n<h2>Edwards: SLRV beginning &#8220;new trend&#8221;<\/h2>\n<p>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<p>The SLRV Ratio takes the percentage of the BTC supply active in the last 24 hours and compares it to that last active 6-12 months ago. The result shows how comparatively active short-term supply and long-term supply are at a given point.<\/p>\n<p>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<p><strong><em>Related: Crypto winter can take a toll on hodlers\u2019 mental health<\/em><\/strong><\/p>\n<p>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<p>The metric &#8220;is about as simple as gets&#8221; when it comes to reliable Bitcoin analytics tools, Edwards explained in an introductory blog post, and is currently repeating classic bullish behavior with a crossover taking place in early 2023.<\/p>\n<p>&#8220;A new trend in SLRV ribbons, and it looks familiar,&#8221; he summarized.<\/p>\n<p><em>Bitcoin SLRV Ribbons annotated chart. Source: Charles Edwards\/ Twitter<\/em><\/p>\n<p>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<h2>Bitcoin is still &#8220;cheap&#8221;<\/h2>\n<p>SLRV is not the only Bitcoin metric giving Edwards a sense of deja vu this month.<\/p>\n<p><strong><em>Related:\u00a0BTC price targets fix on $35K as Bitcoin eyes \u2018massive\u2019 liquidity squeeze<\/em><\/strong><\/p>\n<p>The Bitcoin Yardstick, previously covered by Cointelegraph, reveals a recovery in Bitcoin market cap versus hash rate but still classes BTC as &#8220;cheap&#8221; at current prices.<\/p>\n<p>&#8220;The Bitcoin Yardstick is painting a very familiar signature to the 2019 lows,&#8221; he commented on March 31.<\/p>\n<p>After exiting the &#8220;cheap&#8221; zone early that year, BTC\/USD then only saw one brief return during the March 2020 COVID-19 cross-market crash.<\/p>\n<p><em>Bitcoin Yardstick chart. Source: Charles Edwards\/ Twitter<\/em><\/p>\n<p class=\"post-content__disclaimer\">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<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-copying-familiar-price-trend-in-2023-two-more-metrics-show\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 &#8220;familiar&#8221; bull signal on the SLRV Ribbons metric. Edwards: SLRV beginning &#8220;new trend&#8221; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11270,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-11269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11269"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11269\/revisions"}],"predecessor-version":[{"id":11271,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11269\/revisions\/11271"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/11270"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}