Two metrics show how 'familiar' the 2023 BTC comeback is, says caprioleio.
Bitcoin is on the road to a new bull market and should deliver serious returns in the process, fresh analysis revealson April 2, Charles Edwards, founder of Bitcoin and digital asset hedge fund Capriole Investments, flagged a"familiar" bull signal on the SLRV Ribbons metric.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 Ratio from well-known analyst David Puell.
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. 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.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.
The metric"is about as simple as gets" when it comes to reliable Bitcoin analytics tools, Edwards explained in an"A new trend in SLRV ribbons, and it looks familiar," he summarized.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.SLRV is not the only Bitcoin metric giving Edwards a sense of deja vu this month.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
2023 seven-round Seahawks pseudo mock draft - Part twoRound 1 pick, in the trenches, but not on defense.
Read more »
Victrix Reveals Two New Controllers During EVO Japan 2023In the middle of EVOJapan 2023, Victrix decided to reveal two new game controllers for you to pick from, depending on your style.
Read more »
Bitcoin's Q1 Performance; U.S. Government Sold $216M of Seized Silk Road Bitcoin This MonthBitcoin (BTC) is on track to end the first quarter with its best performance since the first quarter of 2021. So far, the largest cryptocurrency by market capitalization has rallied roughly 70% in 2023. Separately, the U.S. government sold 9,861.17 bitcoin (BTC) for almost $216 million on March 14, a court filing shows. CoinDesk's Bitcoin Protocol Reporter Frederick Munawa and Crypto Markets Analyst Glenn Williams Jr. discuss.
Read more »
Bitcoin price hits $28.5K on PCE data as macro 'accumulation zone' endsBTC price offers bullish signals on long and short timeframes as PCE data conforms to expectations.
Read more »
Bitcoin (BTC) Price Analysis for April 1Can BTC reach the $30,000 mark next week? NickSzabo4 alistairmilne Maybemore_DC WhalePanda maxkeiser
Read more »
BTC price targets fix on $35K as Bitcoin eyes ‘massive’ liquidity squeezeBitcoin at a key resistance zone means “massive” liquidations due if BTC price hits $30,000.
Read more »