The world could be stuck with recession until Spring 2024, Musk guesses in a fresh blow to the risk asset outlook.
**Musk: Recession will “probably” stay until Q2, 2024 **
There is ongoing discussion over how much worse the situation could grow now that the United States has technically entered a recession as of Q3 GDP figures.
For Musk, who has long predicted that the US economy would go into a slump, the possibility of a protracted downturn on a global scale is now a reality.
The richest man in the world was evasive when asked on Twitter how long he thought a recession would continue, but went on the side of years rather than months. For crypto critics, Musk's most recent forecast came as an especially hard blow.
Data from Cointelegraph Markets Pro and TradingView showed that BTC/USD fell under $19,000 on the day, indicating that it is still prone to macro-market fluctuations.
responses to Musk considered the possibility that a big trend change in price performance would not occur until Bitcoin's subsequent halving. The halving will take place on May 1, 2024, as of right now.
"If true, CT will have a mental breakdown in half,"
Closer to home, further research warned that “time is running out” to save the Bitcoin daily chart from a breakdown.