Bitcoin copying 'familiar' price trend in 2023, two more metrics show

Bitcoin (BTC) is connected the roadworthy to a caller bull marketplace and should present superior returns successful the process, caller investigation reveals

In a tweet connected April 2, Charles Edwards, laminitis of Bitcoin and integer plus hedge money Capriole Investments, flagged a "familiar" bull awesome connected the SLRV Ribbons metric.

Edwards: SLRV opening "new trend"

SLRV Ribbons is simply a instrumentality for measuring imaginable Bitcoin profitability. Put guardant by Capriole successful 2022, it is based connected the Short-to-Long-term Realized Value (SLRV) Ratio from well-known expert David Puell.

The SLRV Ratio takes the percent of the BTC proviso progressive successful the past 24 hours and compares it to that past progressive 6-12 months ago. The effect shows however comparatively progressive short-term proviso and semipermanent proviso are astatine a fixed point.

From this, an capitalist tin summation an penetration into some sentiment and apt terms trajectory, but implicit time, specified proviso values whitethorn change, Edwards argues.

Related: Crypto wintertime tin instrumentality a toll connected hodlers’ intelligence health

SLRV Ribbons attempts to code this by analyzing the interplay betwixt 2 moving averages. When its short-term 30-day MA crosses implicit the semipermanent 150-day MA, Bitcoin is astatine the commencement of a bullish phase.

The metric "is astir arsenic elemental arsenic gets" erstwhile it comes to reliable Bitcoin analytics tools, Edwards explained successful an introductory blog post, and is presently repeating classical bullish behaviour with a crossover taking spot successful aboriginal 2023.

"A caller inclination successful SLRV ribbons, and it looks familiar," helium summarized.

Bitcoin SLRV Ribbons annotated chart. Source: Charles Edwards/ Twitter

While comparatively new, Edwards added that SLRV Ribbons had been backtested to amusement some its reliability and capableness to amended BTC concern returns versus buying and holding.

Bitcoin is inactive "cheap"

SLRV is not the lone Bitcoin metric giving Edwards a consciousness of deja vu this month.

Related: BTC terms targets hole connected $35K arsenic Bitcoin eyes ‘massive’ liquidity squeeze

The Bitcoin Yardstick, previously covered by Cointelegraph, reveals a betterment successful Bitcoin marketplace headdress versus hash complaint but inactive classes BTC arsenic "cheap" astatine existent prices.

"The Bitcoin Yardstick is coating a precise acquainted signature to the 2019 lows," helium commented connected March 31.

After exiting the "cheap" portion aboriginal that year, BTC/USD past lone saw 1 little instrumentality during the March 2020 COVID-19 cross-market crash.

Bitcoin Yardstick chart. Source: Charles Edwards/ Twitter

The views, thoughts and opinions expressed present are the authors’ unsocial and bash not needfully bespeak oregon correspond the views and opinions of Cointelegraph.