Bitcoin's RHODL Ratio shows a 'new bull run forming,' argues PositiveCrypto.
RHODL Ratio is a method of tracking BTC price behavior based on the realized price of the supply — the price at which coins last moved.
Created by Swift in 2020, it compares the relative ages of coins which moved one week ago to those which moved 1-2 years ago. This ratio gives an insight into the relative activity of short-term and long-term holders , and by extension the extent to which speculation is present on the market.At the time, Swift
Cointelegraph that Bitcoin was “at the point of maximum opportunity” — something which has since proven true, with BTC/USD gaining 70% in Q1 2023.Now, with speculative activity seemingly increasing, he believes that a new bull cycle is already underway. “When I created the bitcoin RHODL Ratio indicator in 2020, one thing that struck me was how it showed a new bull run forming...when the ratio value of younger coins began to increase. Which is where we are right now,” he commented.Bitcoin RHODL Ratio annotated chart. Source: Philip Swift/ TwittercalledAn accompanying chart meanwhile added that the 2021 bull market, despite delivering a blow-off top for BTC/USD, did not see a copycat move for RHODL.
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