Trader Top 9: Can Ethereum Flip Bitcoin?

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Welcome back to another jam-packed Trader Top 9.  Fortunately, despite Bitcoin's continued rangebound trading action, the news stories continued to roll in this week.  Brad Sherman, the U.S. congressman from California, who called for a ban on crypto last week was exposed for having financial conflicts.  And Goldman Sachs, perhaps the biggest name on Wall Street, suggested that Ethereum has the potential to flip Bitcoin.  Those are just a few of the stories in this week's Trader Top 9!

9. From China to Elon, the last few months have seemed like a full-on assault of crypto.  The below thread does a great job of summarizing the FUD.

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8. Last week, Brad Sherman was calling for a ban on crypto.  Guess who donated to his political campaign? 

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7. Senator Elizabeth Warren continues to speak out about the "evils" of cryptocurrency.  Unfortunately, this is simply another case of not knowing the facts.

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6. Although crypto is actually quite heavily regulated, especially in New York, ensuring that a fair marketplace exists for all participants would be a step in the right direction.

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5. As Dan points out below, reserve currency status doesn't last forever.  Can bitcoin save us?

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4. Banks and legacy financial institutions might want to put crypto out to pasture, but as the below tweet shows, you can't stop progress.

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3. Bitcoin is king.  We've heard that for years, but just like reserve currencies, kings don't rule forever.  Can Ethereum ascend the throne?

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2. Crypto continues to make inroads into the sports world.  FTX previously partnered with the Miami Heat, Major League Baseball, and Tom Brady.  And now Crypto.com is getting in on the fun by inking a deal with the UFC.

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1. Anthony Scaramucci, the founder of SkyBridge Capital, still believes that bitcoin will hit $100K by year-end.  With bitcoin trading in the low 30s, this could be quite an opportunity.  Did you buy the dip or are you waiting for lower prices?  Stop by our Telegram group and let us know.

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