Constellation Research founder and investor Ray “R” Wang made noteworthy forecasts about digital assets and tech giants in his Fox business program “Varney & Co.”
Wang argued that a “golden age” of digital assets has begun, saying Bitcoin could rise to $150,000 within the next six months.
According to Wang, US legislative developments have increased confidence in Bitcoin, including the Clarity Act, the Anti-CBDC Surveillance National Law and the Genius Act that provides clarity in cryptocurrency regulations. Furthermore, together with the White House actions in favour of these regulations and depreciation of the dollar, expectations of a fall in interest rates lead investors to riskier assets. This creates a strong foundation for the rise of Bitcoin, the King argues.
Wang also said that adoption of Bitcoin as a reserve asset by some countries and the rise of the Stablecoin initiative will also increase demand. “Digital assets are poised to grow in a more decentralized and regulated way than ever,” Wang said, adding that these developments will result in higher prices.
Wang made notable predictions not only for the cryptocurrency market but also for the tech giant nvidia. He claimed that Nvidia stock, which currently trades around $170, could reach $200 by the end of the year. He cited the lifting of China’s chip ban and the country’s shift to Nvidia hardware as the main reason for this, for the “sovereign AI” project.
*This is not investment advice.
