Global Recession Could Last Until Nearly 2024 Bitcoin Halves - Elon Musk

The world could be in the grip of a recession until the spring of 2024, Musk speculates in another blow to the outlook for risk assets.

Bitcoin (BTC) could pass the time until its next block grant halves the fight against recession, Elon Musk has suggested.

In a tweet on October 21, the CEO of Tesla revealed his belief that the world will not emerge from recession until the spring of 2024.

After the United States entered a technical recession with its third quarter GDP data, the debate continues on the severity of the scenario.

For Musk, although he had long predicted that the US economy would enter a recession, the likelihood of a persistent global slowdown is now real.

Asked on Twitter how long he thinks a recession will last, the world's richest man was evasive, but misstated years rather than months.

"I guess, but probably until spring 24," he wrote, after also saying that "it would be nice to have a year without a horrible world event."

Musk's latest prognosis came across as particularly painful to crypto commentators.

Always sensitive to macroeconomic market movements, BTC/USD fell below $19,000 on the day, according to data from Cointelegraph Markets Pro and TradingView.

Reactions to Musk digested the idea that we might have to wait for Bitcoin's next price performance halving to see a meaningful trend change. Halving is common...