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.
caprioleio Bitcoin's recent price recovery is showing a copycat trend from 2019 - have you seen what's going on?
caprioleio Finally got my first btc on my Ownr wallet