THELOGICALINDIAN - Despite yesterdays advertisement that the advancing Segwit2x adamantine angle will not be demography abode Segwit2x futures markets abide to barter As of this autograph Segwit2x futures are trading for about 250 USD on Hitbtc and Exrate and trading for about 180 USD on Bitfinex
Also Read: Closing the Curtains on Segwit2x and the Following Aftermath
Yesterday’s Announcement That the Contentious Segwit2x Fork Will Not Occur Sent Shockwaves Through the Cryptocurrency Markets
In acknowledgment to the account apropos Segwit2x, bitcoin aback acicular advancement from $7500 USD to authorize a new best aerial of $7900 USD afore an advancing annular of auctioning collection the amount bottomward to authorize abutment at almost $7000. Afterwards a abrupt brief accretion of about 5%, the amount of bitcoin hovers about 7150 USD afterwards retesting the $7000 abutment breadth as of this writing.
The news, however, accepted to be adverse for abounding traders who had invested in Segwit2x futures, such as the columnist of this article who spent $85,000 to acquirement 90 futures on Bitfinex.
Segwit2x futures plummeted from about $1300 USD bottomward to a low of $150 USD, afore bouncing up to the $300 – $400 USD range, according to Coinmarketcap. As of this writing, Coinmarketcap letters that prices accept sunk aback bottomward to about $250 USD. Bitfinex’s BT2 tokens are trading decidedly lower at about $180 USD. Since the best aerial of about $2400 USD on the 3rd of November, Segwit2x futures accept absent almost 90% percent of their value.
After Losing Approximately 80% of Their Value in One Day, Segwit2x Futures Contracts Continue to Change Hands
Mike Belshe’s column stated that the ambition of Segwit2x “has consistently been a bland advancement for Bitcoin. Although we acerb accept in the charge for a beyond blocksize, there is article we accept is alike added important: befitting the association together.” Belshe accustomed that Segwit2x had “failed to buil[d] acceptable accord for a apple-pie blocksize upgrade,” and that “continuing on the accepted aisle could bisect the association and be a setback to Bitcoin’s growth.”
Segwit2x’s antecedent animation was acceptable apprenticed by traders closing abbreviate positions, however, abounding traders are ambiguous as to why bazaar participants are still accommodating to acquirement Segwit2x futures in animosity of Mike Belshe’s advertisement abandoning the fork. One accessible acumen factoring in could be the mining accumulation Bitpico’s announcement they’ll abide with activation of the Segwit2x fork
Why do you anticipate traders are still announcement buy orders for Segwit2x futures admitting the appear abandoning of the fork? Share your thoughts in the comments area below!
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