[brut]

Some people were waiting for the "free money" to come so they could buy "alt coins". Some will be happy to see BTC unchallenged. Price will be a balance of both.

[panarky]

Futures on the forked coin were trading north of $1000 earlier today.

After the announcement, the price dropped to $1, and has since rebounded to $200.

https://imgur.com/a/XOvWS

Maybe the $1000 BT2 price wasn't really a bet on free money, but on the prospect that BT2 might replace BTC.

If the expectation was that post-fork BTC + BT2 ~= today's BTC, that means that today's BTC price was depressed by this possibility.

Now that BT2 is cancelled, the value flows back to BTC.

[IncRnd]

Where is there a market for futures on cryptocoins?

[panarky]

BitMEX, CBOE, Deribit, and others all offer bitcoin futures, with new exchanges appearing all the time.

The Chicago Mercantile Exchange says they'll start trading Bitcoin futures by year-end.

[IncRnd]

Thank you. I wasn't aware of Chicago Merc. That holds a lot more interest to me than the others. I'll look up your reference to Chicago.

[jdhn]

I'll admit it, I was one of those people. On one hand, no "free money" for me, but on the other hand, I'm willing to accept this because it will hopefully lead to a stronger Bitcoin in the long run.

[nikcub]

If you bought in when the 2x futures began trading you've already made more from the BTC price rise than you would have from the air drop.