For the first time in history, Bitcoin is set to close with four consecutive quarterly green candles this year.

Bitcoin has never seen four consecutive quarters of decline in the past on its quarterly candlestick chart. However, if it fails to close above $19,423 on 12/31, Bitcoin is set to break that record.

According to a report by BeInCrypto, Bitcoin has set multiple records this year. For instance, Bitcoin has never dropped below its previous all-time high, but it has broken the $20,000 high from 2017 multiple times this year.

Furthermore, several records have been broken in technical analysis:

• In the monthly chart, Bitcoin has never fallen below the 50-month moving average (MMA) shown as the orange line in the chart below.

• In the weekly chart, it has rarely fallen below the 200-week moving average (WMA), but it has consecutively fallen below the 28-week average.

Additionally, Bitcoin's performance in the quarterly chart has closed with three consecutive declining quarterly candlesticks. If the closing price on 12/31 is not above $19,423, it will be a record-breaking four consecutive red candlesticks, requiring approximately a 16% increase.

Similar situations occurred during the bear markets of 2014 and 2018, but never with four consecutive declining red candlesticks.

From the quarterly chart, it is evident that Bitcoin's dismal performance this year has brought the market into uncharted territory. Compared to previous years, Bitcoin has risen less and fallen more. Even if Bitcoin repeats similar trends from past bear markets, it indicates that the market will enter a long period of consolidation.