Rest assured there will be a lot of people effectively buying some cheap futures contracts right now too.
The upcoming SegWit2x hard fork has gotten a lot of attention. Even though many people still oppose it, the “free coins” are of great interest for obvious reasons. Some platforms even provide SegWit2x futures trading. This should provide a baseline value for the new coins once they become available. Right now, that value is tanking quite hard, which isn’t a big surprise. It is unclear what this means for the altcoin’s future valuation, though.
There is still a long way to go until SegWit2x happens. The hard fork won’t occur until a few weeks from now. People are already preparing to store their bitcoins in such a way they can get their hands on free tokens. It remains to be seen if the new token will detract value from the Bitcoin price, though. The same happened with Bitcoin Cash, although it only made Bitcoin stronger in the end. At the same time, BCH is losing value quite rapidly as well.
SegWit2x Futures are Taking a Beating
With the SegWit2x futures price dropping to 0.15 BTC and lower, things don’t look great. Them again, it is expected a lot of people will get rid of those coins quickly. The same will happen to Bitcoin Gold coins once they become available. Selling too soon may not be the best course of action for the time being. After all, BCH bounced back pretty quickly and quadrupled in value briefly.
The futures price of S2X is a pretty interesting factor. While it is not necessarily the go-to reference right now, it does show there will be a lot of price volatility. Speculation is the name of the game when it comes to cryptocurrency airdrops. A lot of people consider this token to be a freebie. That is not necessarily the case, though. Only time will tell how this situation evolves. People need to prepare for a lot of selling pressure first and foremost. An interesting future awaits, that much no one can deny right now.
Rest assured there will be a lot of people effectively buying some cheap futures contracts right now too. That is only normal, as such contracts can yield interest dividends. A lot of people will consider the current price to be a steal. Whether or not that is correct remains to be seen, though. These are very exciting times for the Bitcoin price and hard fork markets. For now, Bitcoin remains the clear king of the market. It sure seems good to be king.
Wish you a successful life!
Tejas Parab
(nomadict_soul)