BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
FOLLOW
BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
BlockNews.com
No Result
View All Result

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
Is the Bubble Going to Pop? Elon Musk Forewarns About Recession in the United States
Share on TwitterShare on Reddit

Tesla held a meeting for stockholders this month, and itโ€™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?

According to multibillionaire Elon Musk, inflation has already peaked, and the market is now transitioning towards recession, although in a more โ€œmoderateโ€ kind.ย 

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.ย 

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 commoditiesโ€™ 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.ย 

Is the market at the Bottom Alreadyโ€ฆ, or will the Dip Continue?

Elonโ€™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.

Tags: elonRecession
TweetShareShare
BlockNews Team

BlockNews Team

DON'T MISS THESE! HOT OFF THE PRESS

MicroVisionChain Launches New DEX, Revolutionizes Bitcoin Ecosystem
Breaking News

MicroVisionChain Launches New DEX, Revolutionizes Bitcoin Ecosystem

December 8, 2023
Web3 Companies Launch Major Grants to Fuel Crypto Market Growth
Breaking News

Web3 Firms Unveil Grants to Bolster Crypto Ecosystem Following Market Revival

December 7, 2023
Blockchain Technology Spearheads Climate Action at COP28
Breaking News

Blockchain Technology Spearheads Climate Action at COP28

December 7, 2023
Meta Leads the Fight Against AI Misuse with Invisible Image Watermarks
Breaking News

Meta Leads the Fight Against AI Misuse with Invisible Image Watermarks

December 7, 2023
Foreign Governments Access Apple and Google User Data: Senator Warns
Breaking News

Foreign Governments Access Apple and Google User Data: Senator Warns

December 6, 2023
Jack Dorsey’s Ocean Mining Shakes Up Bitcoin With Ordinals Censorship
Breaking News

Jack Dorsey’s Ocean Mining Shakes Up Bitcoin With Ordinals Censorship

December 6, 2023
Load More
Next Post
Voyager Digital Declines FTX Bid for Better Offers

Voyager Digital Declines FTX Bid for Better Offers

Vitalik Buterin Planning to Create Stealth Addresses for NFT Transactions

Vitalik Buterin Planning to Create Stealth Addresses for NFT Transactions

Understanding Market Capitalization

Understanding Market Capitalization

Related News

Telegram Logo-1

Telegram Wallet Launches a P2P Walletbot

October 6, 2022
aave lending protocol

Aave Lending Protocol Moves Closer to Launching GHO Stablecoin on Ethereum Mainnet

June 9, 2023
ftx

FTX Bankruptcy Update: A Glimpse into the Fallen Crypto Giantโ€™s Remaining Assets

September 13, 2023

Browse by Category

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Featured
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized
Discord Twitter
BlockNews.com

BlockNews.com brings you the most important Crypto and NFT news in the space.

CATEGORIES

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Featured
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized

RECENT POSTS

  • Around The Block: December 08 Week in News December 9, 2023
  • NFT Trading Booms with Nearly $1 Billion in November Volume December 8, 2023
  • MicroVisionChain Launches New DEX, Revolutionizes Bitcoin Ecosystem December 8, 2023

ยฉ 2022-2023 BlockNews.com - Crypto and NFT news website by JRNY Club.

No Result
View All Result
  • Home
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides

ยฉ 2022-2023 BlockNews.com - Crypto and NFT news website by JRNY Club.