As Bitcoin continues to consolidate between the $30K and $40K range, BTC investors holding coins between two and five years are still confident about their investment. 
On-chain metrics provider Glassnode explained:
“Bitcoin aged between 2y-5y old was accumulated between 2016 and 2019 at prices ranging from $640 to $20K. Conviction of these investors remains strong this cycle, now holding over 22.9% of the BTC supply.”
Notably, these investors are still in profits as Bitcoin was hovering around $33,230 during intraday trading, according to CoinMarketCap.
It, therefore, explains the reason why long-term BTC holders remain in an accumulation mode. For instance, Bitcoin addresses holding between 100 and 10,000 BTC recently hit 9.13 million coins.
Bitcoin’s average 6-month trading returns are negative
However, things have not been rosy for investors who have been in the Bitcoin market for only 6 months because their returns are in the negative trajectory, as acknowledged by…