Bitcoin Forum

This is not a share market. Exchanges are open 24*7. So what does it mean by showing daily opening & closing price ?

http://finance.yahoo.com/q?s=BTCUSD=X

Open of the period to close of the period.
All trades in this period are toted up.
As soon as one period closes the next opens.
Sorry, I don't know the lengths of these periods.

It can be a useful metric for some cases.  It's very likely the price at midnight of some major timezone (PST, EST, GMT), but someone should try to confirm when it changes.

EDIT:  It's GMT.  The interactive chart shows 12:00 AM GMT as time of opening.

But this is actually aggregation not reality. If u look at BTC-E, BitStamp or LocalBitcoin, trading takes place round the clock. There is a big chance that non-bitcoiner financial people may follow Yahoo chart and that would result in wrong calculation. Opening & Closing does not apply to crypto trading !!!

You should have used Google. Yahoo is displaying this correctly hopefully.

As a bitcoiner, I dont rely on Yahoo or Google, because I can read http://bitcoincharts.com/charts/ ...but a non-bitcoiner trader may follow that and may encounter loss. Its good if all of us report here...

https://yahoo.uservoice.com/forums/207809-finance-gs/category/68435-data-accuracy

I'll disagree.  I don't see any material miscalculation that could come as a result of showing an open and closing price.  If nothing else, it gives a nice way to summarize the price at the same point in time every day - i.e., if I wanted to see how much the price changed daily over the course of a year, using the open price for each day would be a nice alternative to a weighted average.

If you're really concerned about it, contact Yahoo and see what they say about changing it.  I think that more information is a good thing, not a bad thing.