What time of day (in GMT) does the volume get reset to zero?
I'm trying to correlate this with the charts, however I'm unclear as to when this actually would occur
asked Feb 1, 2013 at 20:18
-
I'm pretty sure it doesn't. The volume includes all transactions within the past 24 hours. If it did, you would have to compare volumes at the same time of day (or correct) to get an idea of how much activity there was, and that would be extremely annoying. And there would be one time of day when the data would be useless. Why would anyone do things that way?– David SchwartzFeb 1, 2013 at 20:28
Add a comment
|
2 Answers
It is a moving sum, it sums up the volume for the last 24 hours of trade. Bitcoin trading never closes, so the usual way of calculating volume as the sum of trades that happen between the open and close of the market doesn't apply.
If you are referring to the volume displayed at the top of their site, that's a rolling 24 hour number.
If you are referring to the volume displayed in BitcoinCharts, then that is 00:00:00 to 23:59:59 UTC.
Also, the Bitcoin Charts metrics are per-market, so BTC/USD has its own volume as does BTC/EUR, BTC/GBP, BTC/JPY, etc. Whereas the volume number from Mt. Gox's site appears to be the total for all seventeen currency markets they operate.
answered Feb 1, 2013 at 21:12
-
1You sure about the 00:00:00 to 23:59:59 UTC thing? Bitcoincharts displays the same moving sum as Bitcoin-Central.net does, you think it's different for MtGox ?– DavidFeb 1, 2013 at 21:30