Sell ‘ShitCoin2x’ Immediately for Best Profit: Bitcoin Exchange BitMEX to Traders

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Cryptocurrency trading platform BitMEX has told users to dump SegWit2x Bitcoins “immediately” following November’s hard fork.

In a dedicated trading strategy blog post, BitMEX, which earlier this month signaled its opposition to all hard forks, described SegWit2x as a “shitcoin.”

“He who sells first, sells best,” the post advises in reference to divesting oneself of non-Core chain coins.

“On the ex-date (expected to be on or around Nov. 20), you will receive B2X in a 1:1 ratio. These B2X coins should be immediately sold for USD. At the same time, the futures should trade at a discount or negative basis.”

BitMEX confirmed that its own index would not include 2x coins.

As the hard fork’s snapshot date remains several weeks away, community consensus still strongly correlates Bitcoin’s recent price highs to SegWit2x resistance.

A poll by BTCC CEO Bobby Lee Sunday returns hard fork-related opinions about why Bitcoin had broken $6,000, with responses consistently referring to SegWit2x’s “failure” to gain sufficient support.

BitMEX adds that the majority of Bitcoin exchanges are unlikely to credit users with 2x balances.

“Most exchanges that offer margin trading will not force shorts to deliver or cover B2X. Forcing a large number of shorts to cover in the illiquid B2X spot market could be disastrous,” the blog post concludes.

“Therefore, most exchanges will not credit Bitcoin lenders with B2X or force Bitcoin shorts to deliver B2X.”

Meanwhile, exchange HitBTC has been offering SegWit2x futures contracts and major wallet provider Xapo has confirmed its willingness to rename the 2x chain ‘BTC’ should it gain majority support.