Crypto Update Today, November 1: South Park Crypto Memecoin Scam Gaining Attention as Bitcoin Price Shifts | Q4 Surge Begins?
Today’s crypto news is quite amusing, as South Park takes another jab at crypto enthusiasts. The latest episode features a storyline where the kids create a phony crypto token to execute a pump and sell-off scam.
It’s comedic brilliance for the audience, but for crypto traders, especially those dealing in meme coins, it strikes a chord with reality. Amidst the humor, the BTC price steadily stays above $110K, rising from October’s lows and suggesting a potential Q4 recovery might be on the horizon.
Putting satire aside, the crypto market appears to be delivering a different kind of punchline—whenever everyone shares doom and gloom about the current price, BTC begins to regain strength.
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South Park Crypto Strikes a Chord: The Unpleasant Reality
The Crypto skit from South Park doesn’t stretch the truth too thin. It reflects what we’ve witnessed this year—rapid memecoin launches, insider sell-offs, and fleeting excitement. Discussions within the crypto community show a mix of laughter and recognition, calling it “eerily accurate,” but reality strikes hard. Is this the state of the crypto market today?
No surprise, a few Solana meme coins emerged within hours of the episode airing, one named SPSN, drawing interest from buyers before most caught on to the setup that screamed “rug pull.”
NEW: The South Park kids launch a Crypto memecoin scam and it’s almost too accurate
— Autism Capital
What’s intriguing is how Bitcoin’s price action feels like the antithesis of that turmoil. BTC rebounded nearly 1.4% this week, maintaining its position above the 50-day moving average near $105,000, which is a solid level.
Historically, dips in October don’t always extend into November. Data suggests November is typically Bitcoin’s top month, with its price witnessing a 451.2% rise in a month. While October is generally a favorable month for BTC, the usual price surge level of “uptober” has never performed better percentage-wise than November.
(source – Curvo)
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BTC Price Bottom Might Be Set and a Q4 Surge Could Be Underway
Technical indicators imply that the BTC price may have already reached a low point around $106,000. The RSI briefly went down to 45 before rebounding, indicating a classic oversold reversal. Additionally, the MACD has just crossed bullish, reminiscent of the setups that initiated significant rallies in 2020 and 2023. Analysts watching the trends in crypto update foresee a potential move towards $120,000 as volume increases.
(source – TradingView)
Interestingly, the South Park digital currency episode could indicate a shift in sentiment. Typically, when mainstream television begins to ridicule scams, it signifies that the peak excess is behind us.
Bitcoin’s protocol hash rate remains at an all-time peak, suggesting profound underlying strength. Following a challenging October, history indicates that November often turns the tables.
This time, the data points to a significant rally, rather than another dip.
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ZEC Crypto: Can Zcash’s Halving Propel ZEC Price Over $1000 In The Upcoming Altcoin Season?
The momentum surrounding Zcash crypto is undeniable, as the ZEC coin has surged over 10x in the past weeks and has surpassed the $400 threshold. With privacy protocols regaining popularity and anticipation building for a major halving event, the ZEC price hike has become a hotspot for FOMO-driven traders and astute investors eyeing the next wave in the non-BTC crypto phase.
Is Zcash just riding a trend, or is this the opportunity that ZODLers have been waiting for over four years?
Read the complete story here.
The post Crypto Update Today, November 1: South Park Crypto Memecoin Scam Trending as Bitcoin Price Reverse | Q4 Rally Starts Now? appeared first on 99Bitcoins.
