Overall cryptocurrency capitalization has managed to increase almost 10% within the last 24 hours and returned to $260 billion. Bitcoin overtopped $6000. But analysts and enthusiasts forecast that exit from this correction will not be easy.

On 25 June, bitcoin managed to return to $6,300, having risen by 4% over the day. Its capitalization rose to $108 billion.

In the short term, the bitcoin rate may drop to $4,000, but by late 2018 and early 2019 we can expect bitcoin to grow to $10,000, said Todd Gordon, founder of TradingAnalysis. Thus, in the short term he sees technical indicators pointing at continued fall of the cryptocurrency market.

Gordon added that bitcoin's volatility fell to a record low of 17% per week, whereas previously it ranged from 20% to 40%.

A more optimistic point of view was expressed by Michael Strutton, the CEO at IronWood. In his opinion, bitcoin could rise in price to $26,000 or $44,000 after exchange traded crypto funds (ETF) come to the market. The emergence of crypto-ETF on the market will result in an influx of institutional capital.

“If ETFs add 24 million US investors and the upward momentum adds 14 million from the rest of the world, then that adds $84 billion and $336 billion, respectively, to the market cap. Over the past six months, Bitcoin’s market cap has swung from $326 to $110 billion. Adding $420 billion to the market cap could put Bitcoin price range from $26,000 to $44,000.”

Last week, CEO of The Blackmore Group, a real estate investment house, Phillip Nunn, predicted the value of bitcoin to go as high as $60,000 by the end of this year.

But not only bitcoin is on the agenda of enthusiasts. Cryptocurrency market should be freed from the influence of bitcoin, believes Coinage CEO Chad Pankewitz. All altcoins depend on bitcoin, they are traded in pairs to bitcoin and in rare exceptions to stablecoins or fiat money, and this dependence prevents cryptocurrency market from developing, said Pankewitz.

According to him, companies working in the field of blockchain have their own value, their projects should not be directly related to bitcoin, but if the price of bitcoin falls, their value also moves down.