How Crypto Investment Can Affect Your Mental Health?
With the name of ‘volatility,’ what comes first in mind is cryptocurrency. The crypto space has always been going through sharp ups and down, keeping the investors on the edge. In crypto sphere, the only consistent factor is extreme volatility!! This can be a good aspect for global finance, however, it can be a threat to investors’ mental and emotional health. Just so you know, today is the World Hypertension Day. To quite a high extent, Hypertension closely relates to the stress level.
Mental health, a terribly crucial aspect of the human kind had been largely ignored until now. Even today, it is not a frequently discussed topic, as psychological issues are still looked upon as ‘Taboos.’ Your perspective towards finance and investment can also play a role in your emotional peace, while constant desperateness due to the volatility of markets can harm the same. Here, the question arises that, do we invite stress due to such high-risk yet high-return investments like Bitcoin?
It is believable that the crypto markets can be like a roller coaster ride for investors. If not the ups, the downs can put unexpected impacts sometimes. Reportedly, not so long ago, an investor committed suicide after the Bitcoin prices spiralled down due to the market crash. Additionally, last time when the crypto went down after a bullish trend, a rise in the visits to mental health specialist was noticed. All these indicate to the anxiety due to the sudden price drop in the cryptocurrencies.
Another reason for such psychological issue is ‘FOMO’! FOMO stands for ‘Fear Of Missing Out.’ This FOMO feeling can be sensed if one sells the crypto asset too early or too late. One more major fear in crypto space is caused by hackers. The digital and decentralized nature of the cryptocurrencies makes it more vulnerable to hacks.
So, this is how risk trading is connected to your health. To reduce the psychological toll of financial stress especially in crypto, investors can decide an amount which they can afford to put on risk, that also with enough research and clarity.