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what does bitcoin utc close mean

By using our site, you acknowledge that you have read and understand our Cookie Policy , Privacy Policy , and our Terms of Service. If Bitcoin trading never stops then what does it mean when news sites and others talk about bitcoin opening or closing at a certain price, and why is this terminology used? Could two people mean different things when they talk about the closing price at the same date?

Traditional markets are not open for trade all day, so the opening and closing price refer to the first and last price of the day. They are used as measurements for the trading activity of a day. Since closing of the previous day is essentially the same as opening of this day, some pages such as e. CoinDesk only show the closing values for the historical data.

I only know about one exchange for sure but I'm pretty confident this is a widespread concept and applies to many other exchanges, too. These charts exist in traditional markets, too. There, a candle stick typically represents 1 day. That day has among others an opening and a closing price.

Note that the closing price December 29th doesn't have to be the opening price of December 30th and the opening price of December 29th wasn't necessarily the closing price of December 28th, in such markets. In fact, it's fairly unlikely that these prices are the same. Its candlesticks are different. First of all, they have different sizes depending on the length of the period of time the diagram shows.

In the 48 h chart, they only are 15 minutes wide. In the 1 Y chart, they are as wide as in old markets: 1 day. In the 5 Y chart, they are a week wide. Furthermore, the closing price of one candlestick is always the same as the opening price of the next one. This is because they simply slice time up on the clock , , , etc.

Every time slice's opening price is the price when that time slice started and its closing price is the price when it ended. Because the one time slice begins right when the one before it ends and price is is simplified to a function of time, the opening price of a slice must always be the same as the closing price of the previous one.

Podcast: We chat with Major League Hacking about all-nighters, cup stacking, and therapy dogs. Listen now. Home Questions Tags Users Unanswered. Asked 4 years, 1 month ago. Active 2 years, 5 months ago. Viewed k times. Haribo Dr. Haribo 7, 10 10 gold badges 36 36 silver badges 59 59 bronze badges. Jannes Jannes 5, 16 16 silver badges 23 23 bronze badges. Closing price should always be the last price of the day, so it should be unambiguous.

What about timezones? Haribo Oct 28 '15 at Well, it's the opening and closing of the market, so it should be in respect to the market's timezone. I hadn't even realized that it could be read that way. Then maybe the last price in that timezone; what exchange though, or an index?

Bitcoin price indices are made up of prices from different exchanges in different timezones. What exactly does the index closing price for a date consist of?

Haribo Oct 29 '15 at For the Gemini exchange the closing price is at the time of their daily auction at 4pm ET. SatoshiReport SatoshiReport 41 2 2 bronze badges. WebSockets for fun and profit. Related 5. Hot Network Questions. Question feed.

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what does bitcoin utc close mean

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Possible matching categories: Coins. Filter by: Select category from list Bitcoin Bitcoin is a distributed, peer-to-peer digital currency that functions without the intermediation of any central authority. The concept was introduced in a paper by a pseudonymous developer known as "Satoshi Nakamoto". Bitcoin has been called a cryptocurrency cpose it is decentralized and uses cryptography to control transactions and prevent double-spending, a problem for digital currencies.

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By using our site, you acknowledge that you have read and understand our Cookie Policy , Privacy Policy , and our Terms of Service. If Bitcoin trading never stops then what does it mean when news sites and others talk about bitcoin opening or closing at a certain price, and why is this terminology used? Could two people mean different things when they talk about the closing price at the same date? Traditional markets are not open for trade all day, so the opening and closing price refer to the first and last price of the day. They are used as measurements for the trading activity of a day. Since closing of the previous day is essentially the same as opening of this day, some pages such as e.

what does bitcoin utc close mean

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The controversial proposal seeks to change the transaction structure of the network via Segregated Witness, and increase a cap on the amount of data that can be stored in transaction blocks, a move tentatively scheduled for later this fall.

But Clode waves that apprehension closs. Behind the scenes, he and other pool operators have been restlessly working to ensure BIP 91 goes according to plan and bitcoin transitions to the new ruleset smoothly.

Plus, even more Core contributors, who have been largely opposed to Segwit2x, are helping smooth the transition. It seems many people want vlose see BIP 91 succeed, likely in an effort to supersede more aggressive alternatives such as BIP And finally, because transitioning to urc new BIP 91 rules odes on mining pools alone, Hilliard said:.

Lock image via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

BIP 91 has officially locked in. BIP 91 will activate at blockTheoretically, mining pools will start rejecting blocks that do not signal support for SegWit BIP SegWit could lock-in during the next difficulty adjustment period of blocks, which takes about two weeks. These concerns boil down to: Thinking miners might not be running the software they signal.

Speculating that mining pools might run the correct software for a while, then stop before SegWit locks in. WeChat saves the day? Read more about Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.

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Follow dies for global economic and financial news. These charts exist in traditional markets. But that doesn't mean the value of investors' holdings will double. Clearing Home. In which division do Bitcoin futures reside? Yes, based on growing interest in cryptocurrencies and strong demand for more tools to manage bitcoin exposure, CME Group will launch options on Bitcoin futures in Q1 Because the one time slice begins right when the one before it ends and price is is simplified to a function of time, the opening price of a slice must always be the same as the closing price of the previous one. Additional Information. Product Details. There, a candle stick typically represents 1 day. Viewed k link. US Cryptocurrency Exchange. London time on Last Day of Trading. Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.

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