Especially Bitcoin (BTC) and Dogecoin (DOGE) having great influence on Tesla CEO Elon Musk shares affect the entire cryptocurrency market in general.
Elon Musk, one of the richest people in the world, BTC causing the decline of cryptocurrencies, including FEDHe reacted to.
Reacting to the Fed’s rate hike, Elon Musk said that the recession will last until the spring of 2024.
Billy Markus, one of the developers of Dogecoin, “I guess all we have to worry about right now is the impending global recession and nuclear apocalypse” made a share.
Reply to Elon Musk “It would certainly be nice to have a year without a terrible global event.” said.
After this answer, the user, who asked Musk a question, asked how long his recession would last.
Musk, who has predicted that the US economy will enter a recession for a long time, answered this question as follows:
“Just guesswork, but probably by spring 2024.”
Just guessing, but probably until spring of ’24
— Elon Musk (@elonmusk) October 21, 2022
Musk, who harshly criticized the Fed’s decision to increase interest rates after Tesla’s third quarter reports were announced in the past days, also said that he believes Jerome Powell and his colleagues will eventually realize their mistake.
The date that Elon Musk stated that the recession will end also coincides with the next halving period of Bitcoin.
While FED officials did not mention a major recession risk, markets continue to remain in a low risk appetite considering the possibility of a global recession.
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