Crypto Terms: Letter C

What is Close?

Close - the closing price of the market that's used in traditional and crypto markets.
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Let's find out Close meaning, definition in crypto, what is Close, and all other detailed facts.

Close, or closing price, refers to one of the four key data points used in day trading, known as OHLC. The other three data points are opening, high, and low prices. OHLC is widely used in traditional, cryptocurrency, and other markets to consistently track asset performance.

The term “day trading” originates from the traditional structure of the stock exchange before the late 1960s. Trade used to be conducted during regular market hours. In the case of the New York Stock Exchange, trading would commence between 9:30 a.m. and 4:00 p.m.

This meant that the performance of market assets could be traced on a day-to-day basis. Since the trading was executed between the same hours every day, it was easy to highlight the highest and lowest market prices.

Most traders view the closing price as the most important OHLC metric. The closing price is often set as the benchmark to determine the performance of an asset throughout different periods in the market.

With the emergence and rapid development of electronic trading, the phenomenon of after-hours trading arose. After-hours trading is notable for lower volumes than regular day trading. Despite the rise of after-hours trading, the OHLC metrics remained relevant and are continuously tracked within the regular day market hours.

Since the creation of cryptocurrencies in 2009, exchange platforms dedicated to digital assets started appearing in the early 2010s. These platforms support a model of 24/7 trading since they are accessible solely online and the listed assets are always operational. Nevertheless, crypto exchanges also provide OHLC data. Candlestick charts are particularly common.