Segwit2x Futures Still Trading Despite Fork Cancellation

Yesterday it was announcement that the Segwit2x hard fork will not be taking place, Segwit2x futures markets continue to trade. Segwit2x futures are trading for approximately $250 USD on Hitbtc and Exrate, and trading for approximately $180 USD on Bitfinex.

Yesterday’s Announcement That the Contentious Segwit2x Fork Will Not Occur shook up the Cryptocurrency Markets.

In response to the news regarding Segwit2x, bitcoin suddenly spiked upwards to establish a new all-time high of $7900 USD before it dropped at a support level of $7000. After a brief overnight recovery of approximately 5%, the price of bitcoin hovers around 7150 USD after retesting the $7000 support area.

The news, however, proved to be catastrophic for many traders who had invested in Segwit2x futures.

Segwit2x futures plummeted from approximately $1300 USD down to a low of $150 USD, before bouncing up to the $300 – $400 USD range, according to Coinmarketcap.

Bitfinex’s B2X tokens are trading significantly lower at approximately $180 USD. Since the all-time high of approximately $2400 USD on the 3rd of November, Segwit2x futures have lost roughly 90% of their value.

Why do you think traders are still posting buy orders for Segwit2x futures despite the announced cancellation of the fork? Share your thoughts in the comments section below!

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