The terms, “Open” and “Close” pertains to the price at which a cryptocurrency opens within a specific time period. Open refers to the price of a crypto at the beginning of the day, while Close is the price of the same digital asset at the closing of the duration it is being sold.
In the context of the Stock Market, Open refers to the Opening Price for the first transaction of a business day. Close or Closing price is the price paid for the last transaction of the same day. These prices can be influenced by anything that had taken place since the previous market close. These events usually refer to Market or Economic News.