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Yesterday(1/11) the Bitcoin price dropped about 20%(from 38266 to 31294.)
But today(1/12) it showed yesterday's closing price is 35476?
Do you know that cryto market and forex market are similar but different in a way? While forex operates on 24/5 that is 24 hours per day for 5 days in a week, btc operates 24/7 that is constant 7 days per week .
the point want deduce from this analysis is that btc never stop changing or fluctuating, while you sleep others are awake dong one form of transaction or the other. In my opinion, that is what may be the cause of the difference in what you think it was yesterday and what it is this morning.
Hope this input help.
Many thanks, your reply helped to clarify the "closing price" problem.
Since Bitcoin's transaction "never sleeps", in other words, Bitcoin actually has no closing(or opening) price, am I right?
Yes! Unlike stocks, bitcoin can be traded peer-to-peer without the need of any official platform. Hence, it is possible to trade bitcoin anywhere and anytime. There is no opening or closing timings for the market. So, if a site is using the term 'closing price' then it's misleading and incorrect. Most probably, the closing price site is showing is 24-hour old price. For example, if you are viewing it at 7AM today, it maybe showing you the price of 7AM yesterday.