- Tesla CEO Elon Musk's forecast of double-digit growth in the U.S. economy has spread expectations for medium- to long-term price recovery within the Bitcoin community.
- Bitcoin investors are paying attention to economic growth forecasts and the Fed's rate-cutting stance as major signals for price movements.
- However, some market participants said Musk's past forecasts have not always been accurate and warned to be cautious about forecast reliability.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
In the Bitcoin community, comments by Tesla CEO Elon Musk mentioning the possibility of high growth in the U.S. economy have reignited expectations for medium- to long-term price recovery.
On the 25th (local time), according to Cointelegraph, CEO Musk said on X, "double-digit economic growth will occur within 12 to 18 months," and added, "if applied artificial intelligence (AI) is a proxy variable for economic growth, triple-digit growth could be possible in about five years."
Bitcoin investors tend to view macro indicators such as economic growth forecasts and changes in monetary policy as major signals for Bitcoin price movements. In particular, the Federal Reserve's (Fed) rate-cutting stance this year has consistently been watched as a factor that could stimulate a preference for risk assets.
Regarding Musk's remarks, Bitcoin proponent Anthony Pompliano said, "The world's richest person predicted double-digit gross domestic product (GDP) growth within 18 months, and if AI realizes its potential, growth of over 100% is also possible."
Real-world asset (RWA) revenue infrastructure firm Oryon Finance also reacted positively to Musk's outlook, saying, "His remarks are often not mere noise."
However, skeptical views also exist. Some market participants pointed out that Musk's past forecasts have not always been accurate, and Artem Russakovskii assessed Musk's predictions as "not his strongest area." Bitcoin is currently trading at $87,709, down about 29.89% from the peak of $125,100 recorded on October 5.
