It is evident a lot of people have high hopes for SegWit2x. This upcoming hard fork will give Bitcoin holders another free token to play around with. Right now, the futures market for this fork is appreciating in value. On CoinCodex, the SegWit2x futures trade for over $900. This is slightly higher compared to the Bitfinex rates, but it shows things may turn out quite spectacularly.
Even though SegWit2x hasn’t activated yet, price speculation is already in full effect. That is not entirely surprising, as airdropped coins are of great interest. All Bitcoin holders will be eligible for tokens, assuming they take the proper precautions. Several exchanges have opened up futures markets for this future altcoin as well. So far, the price is fluctuating wildly, as is to be expected.
SegWit2x Futures Markets are Heating Up
Manipulation of the futures market will have some interesting consequences. Right now, the market values SegWit2x at 0.14 BTC or $860. That is the current price on Bitfinex, at least. CoinCodex has a much higher price, which puts the token at over $900. None of this effectively reflects the real BT2 value, mind you. If this chain becomes the actual Bitcoin – which is highly unlikely – things will get even more confusing.
As is always the case, futures markets are mere speculation. Anything valued at $900 today may be worth half or less by the time the coins come to market. At the same time, the value of this token may appreciate in value as well. Bitcoin Cash futures painted a worrisome picture at first. Shortly after, BCH surged to around $1,200. Things eventually calmed down, though, but there’s no reason to think $900 is a correct valuation.
It will be exciting to see how this hard fork affects Bitcoin as well. With a new all-time high recorded earlier today, there are plenty of expectations. SegWit2x coins should – in theory – take away value from Bitcoin itself. Then again, that is not set in stone, as we have seen with the Bitcoin Cash launch. More competing forms of Bitcoin will yield some intriguing results in the long run. Bitcoin will always be Bitcoin, though, and the rest are merely altcoins trying to take the spotlight.
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