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Chinese Analyst Shared the Level at Which He Believes Bitcoin (BTC) Price Will Break Out Within Six Months!
Ray "R" Wang, founder and investor of Constellation Research, made significant predictions about digital assets and technology giants during his appearance on the "Varney & Co." program on Fox Business.
Wang stated that Bitcoin could rise to $150,000 in the next six months and argued that a "golden age" for digital assets has begun.
According to Wang, legal developments such as the Clarity Act, Anti-CBDC Surveillance State Act, and Genius Act, which provide clarity on cryptocurrency regulations in the US, are increasing confidence in Bitcoin. Additionally, the White House's moves to support these regulations and the expectation of falling interest rates will lead investors to more risky assets, along with the depreciation of the dollar. This situation, according to Wang, creates a strong foundation for the rise of Bitcoin.
Wang also stated that the adoption of Bitcoin as a reserve asset by some countries and the increase in stablecoin initiatives would also boost demand. Wang, who said, "Digital assets are ready to grow in a more decentralized manner than ever before, supported by regulations," indicated that these developments would push prices higher.
Wang made a striking prediction not only about the cryptocurrency markets but also regarding the tech giant Nvidia. He claimed that Nvidia shares, currently trading at around $170, could reach $200 by the end of the year. One of the main reasons for this is the lifting of the chip ban on China and the tendency of countries to turn to Nvidia hardware for their "sovereign AI" ( projects.