Cryptocurrency investors suffering anxiety and depression

It’s been a turbulent week for the cryptocurrency
market. Sudden fall in prices following dramatic gains
in the past month. As such, investors are on an emotional roller
coaster ride every minute. Kim Mok-yeon takes a closer look into the
side effects they experience nowadays . [STANDUP] ed: steve
“Bitcoin blues and Bitcoin hysteria. These new terms reflect the feelings of many
cryptocurrency investors. As bitcoin’s value moves up and down, its
causing anxiety, stress and depression among many people who invested in virtual currency.” December saw unbelievable gains for cryptos,
drawing in millions of Korean investors. But the market’s also seen some huge declines,
caused in part by the Korean government’s announcements of regulations,… and that’s
got investors lurching between despair and relief. Tens of thousands of people have posted online
lamenting their losses. Many of the posters are young adults holding
out hope for a payday that will change their lives. (KOREAN ed: steve)
“I put in money because lots of people said they made a lot. But now prices are falling and I feel gloomy. I’m pregnant but I can’t sleep because I keep
looking at the price on my phone.” There’s no *one reason* for the crypto market’s
heart-stopping volatility, but it’s generally agreed that a lot of comes from speculation
and not the real value of the coins as an asset. Prices routinely jump several fold in a matter
of days. This keeps investors constantly checking their
investments, thrilled one minute, anxious about an epic crash the next. A psychology expert says this phenomenon is
especially evident in Korea… where she says there’s a tendency to focus on quick returns…
because of uncertainty Koreans feel not just in their personal lives but in the future
of their country. (KOREAN ed: steve)
“People tend to feel angry when they feel that they are the only ones losing when others
are making profits. They may think that nothing good is happening
in their lives and this can also lead to depression. I think this is more evident in Korea because
of instabilities caused by the threats coming from North Korea, the shift in political power
and concerns over economic recession.” The expert said people who’ve lost money should
realize that now is the time to make sure the damage doesn’t also become psychological. She recommended that investors try to focus
on other activities to keep their mind off crypto’s ups and downs, and turn to their
families and friends for emotional support. Kim Mok-yeon, Arirang News.

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