Bitcoin exceeded the psychological mark of $14,000 the previous day, but then moved on to a retreat as part of the correction.
On Sunday 1 November, the largest digital currency traded at $13,750. It is now trading mostly in the green zone, so re-testing values above $14,000 is possible within the next few hours.
According to the CEO of Three Arrows Capital Su Zhu, if BTC is above $14,000, the value of altokoyins will start to grow more strongly.
Ether, lightcoin, XRP and other large altoins showed good performance in late summer. However, these coins could not hold on to their gains. The recent rollback of the Bitcoin Pro did not even help them.
Su Zhu predicts that market sales will end soon. In parallel, the analyst expects some investors to move from traditional assets to the cryptosphere.
The key signal for such players will be overcoming $14,000. Once the bitcoin is above this level, the altocoins will take revenge.
Many experts point to the importance of this mark. For example, Real Vision CEO Raoul Pal has previously stated that $14,000 is the last critical resistance level for a bitcoin. If you break it down, the coin will be able to get close to $20,000.