Bitcoin, SafeMoon and Terra – European Wrap 24 May [Video]

Bitcoin price is coiling up with no immediate directional bias in sight. On a higher time frame, however, things are looking bearish. Regardless, investors can expect BTC to sweep key levels to the bottom, allowing altcoins like Ethereum and Ripple to trigger a run-up.


SafeMoon price seems to be making a comeback after crashing for nearly five months. This downswing formed a base around a significant support level and has bounced back exponentially. For now, investors can expect SAFEMOON to continue this ascent until it tags a critical resistance barrier.


SAFEMOON/USDT 1-day chart

Whistleblowers from the Terra community have made allegations that some of the most prominent figures in the cryptocurrency industry, like FTX CEO Samuel Bankman-Fried and Jump Crypto CEO Kanav Kariya, were responsible for TerraUSD’s (UST) colossal crash and de-peg.