The 34-year-old has enjoyed two spells at Anfield, and openly admits that he grew up supporting the club under the management of Bob Paisley.
Bellamy comes up against the Reds this weekend in the league with the Bluebirds, and he believes that they can now push on an taste sustained success with Brendan Rodgers at the helm.
"A lot of the fans have grown up watching that type of football; Liverpool would always, when they didn't have the ball, get it back very quickly," the 78-time capped Welsh international told the club's official website. "They had high energy doing that and when they had the ball, they would keep it.
"That's why Liverpool were so successful for long periods. This team now is the closest I've seen to that. Brendan fits what Liverpool have been doing in their most successful periods, 20 to 30 years ago. I get so excited watching Liverpool.
"When you're a supporter, you'll support no matter what, but actually watching this Liverpool team, it's the Liverpool team I grew up watching. It really is, especially after last Sunday. I just feel this is such a great opportunity for Liverpool now to really establish themselves, and hopefully go on and not just win a title, but kick on from there and dominate for a number of years."
Liverpool currently trail league leaders Chelsea by four points.