Can you explain the meaning of previous close in relation to digital assets?

3 answers

• Dec 25, 2021 · 3 years ago
  The 'previous close' refers to the closing price of a digital asset at the end of the previous trading session. It serves as a reference point for traders and investors to assess the price movement and performance of the asset. By comparing the current price to the previous close, traders can gauge whether the asset has gained or lost value since the last session. This information can be useful for making informed trading decisions and identifying trends in the market.
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• Dec 25, 2021 · 3 years ago
  Hey there! So, the 'previous close' is basically the price at which a digital asset ended its last trading session. It's like the final note of the day before the market closes. Traders often use this metric to analyze the performance of the asset. If the current price is higher than the previous close, it indicates a positive movement, while a lower price suggests a negative movement. It's a handy reference point to track the price changes and make trading decisions accordingly. Hope that helps!
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• Dec 25, 2021 · 3 years ago
  When it comes to digital assets, the 'previous close' is a key metric used by traders and investors to assess the performance of an asset. It represents the price at which the asset ended the previous trading session. By comparing the current price to the previous close, traders can determine whether the asset has experienced a gain or loss since the last session. This information can be valuable for identifying trends and making informed trading decisions. At BYDFi, we also consider the previous close when analyzing digital asset prices and market trends.
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