Quote from: pawanjain on November 09, 2023, 04:09:26 PM

Quote from: Bitcoin Smith on November 09, 2023, 10:19:03 AM

Quote from: pakhitheboss on November 09, 2023, 05:23:42 AM

What do you think of the current market situation and where do you think the price of Bitcoin going next?

I don't think there will be any chances for Bitcoin ETF to be approved and that is also has been expressed on multiple forums but we can't know whether it will happen or not. Based on my assumption it will be rejected so there will be a price correction coming up and I feel it is also the reason why network is highly congested for the past few days.

In my opinion, Bitcoin ETF has it's own pros and cons. While there are many, there is one important pro and con that I can think of.
If bitcoin ETF gets approved it will bring huge market players into the crypto market which will increase the crypto market cap and send bitcoin to new heights.
But this will also bring centralization into the market since big players will be able to manipulate BTC price (may be a little bit but still).
So if bitcoin ETFs get rejected we will be on a safer side from such centralization and manipulation.

We need to have big players coming into this market now for it to gain traction and get wider acceptability.