Investors remain confident in the cryptocurrency market as around 70.35% of the total Bitcoin supply has not moved in over a year. The data is according to analytics firm Glassnode, which tracks the activity of all bitcoins. This trend indicates that investors believe in the future of Bitcoin and are unwilling to sell for short-term profits. It also shows that stores of wealth have shifted into cryptocurrency from traditional markets such as fiat currency and gold.

Analysts suggest this could be an indication of further growth potential for the cryptocurrency market, as long-term holders are invested based on confidence rather than greed or speculation. This bullish sentiment comes despite news about regulatory uncertainty amongst some governments and skepticism from traditional market analysts. Overall, this data from Glassnode suggests that Bitcoin remains a strong buy even with a turbulent 2020 so far, and could be indicative of further growth potential in 2021.