The current price of Bitcoin stands at $87,709, having dropped 29.89% since peaking at $125,100 on October 5. Despite concerns about a potential bear market in 2026, the cryptocurrency community is reacting positively to predictions made by Elon Musk regarding economic growth.
Musk forecasted that the U.S. economy could see double-digit growth within the next 12 to 18 months, with the possibility of triple-digit growth by 2030. His statements have garnered attention from Bitcoin enthusiasts, including entrepreneur Anthony Pompliano, who emphasized the significant implications of Musk's predictions on GDP growth.
However, skepticism exists among analysts regarding the reliability of Musk's forecasts. Some market observers, like Artem Russakovskii, have expressed doubts about Musk's accuracy in making such predictions. The Bitcoin market remains cautious, as some traders anticipate a downturn in 2026, despite the optimism surrounding Musk's economic outlook.