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Is the Bubble Going to Pop? Elon Musk Forewarns About Recession in the United States

BlockNews Team by BlockNews Team
August 10, 2022
in Business
Reading Time: 2 mins read
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Is the Bubble Going to Pop? Elon Musk Forewarns About Recession in the United States
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Tesla held a meeting for stockholders this month, and it’s a given that investors are concerned about the current state of inflation in the United States. Is the inflation bubble going to pop, or are the people unaware of the ongoing recession?

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According to multibillionaire Elon Musk, inflation has already peaked, and the market is now transitioning towards recession, although in a more “moderate” kind. 

When asked during the AMA segment, Musk mentioned that the six-month commodity price of the items in the company became cheaper.

Tesla is now in an economic state where risky assets are the name of the game, especially after it sold $1.5 billion worth of Bitcoin. 

He said that commodities continue to decline, which signals the peak of inflation. He predicts that the Tesla price will still go for six more months, which, right after, would start a new phase of accumulation. Lastly, he said the recession might also take more than a year.

Is America Still in Inflation or Already Past It?

Noticing the state of cryptocurrencies and other risky assets, the rise in value may indicate the conclusion of inflation and a decline in commodities’ value. Perhaps, this may have been due to the Feds loosening their grasp on risk assets, which provides even the slightest comfort for investors who want some thrill. 

This phase will test Tesla if it truly is a commodity or a risk asset, as its recent BTC sell-off may strengthen markets and give a chance for crypto to rally once again.

It will repurchase Bitcoin after an unconfirmed date. Elon Musk disclaimed that Tesla did not sell BTC due to panic-buying. 

Is the market at the Bottom Already…, or will the Dip Continue?

Elon’s statements caused debates within crypto and investor communities, while analysts saw this as a signal for an accumulation phase and a bounce back up. 

According to Fundstrat Global Advisors, financial markets have hit bottom, although the Feds have not confirmed whether they will tighten interest fees or let the markets loose.

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