Bitcoin exceeded the psychological mark of $ 14,000 the day before, but then moved to retreat as part of the correction.
On Monday, November 2, the largest digital currency is trading at $ 13,706. Now trading is mostly in the green zone, so retesting values above $ 14,000 is possible within the next few hours.
According to the general director of Three Arrows Capital, Su Zhu, if BTC consolidates above $ 14,000, then a more confident rise in the value of altcoins will begin.
Ether, Litecoin, XRP and other major altcoins performed well at the end of the summer. However, these coins could not keep the won positions. They weren't even helped by the recent Bitcoin pullback.
Su Zhu predicts market sales will end soon. In parallel, the analyst expects the transition of some investors from traditional assets to the crypto sphere.
The key signal for such players will be overcoming $ 14,000. As soon as bitcoin consolidates above this level, altcoins will take revenge.
Many experts point out the importance of this mark. For example, the CEO of Real Vision, Raul Pal, previously stated that $ 14,000 is the last critical resistance level for Bitcoin. Having broken it, the coin will be able to come close to $ 20,000.