If you constantly look at the price of bitcoin or another cryptocurrency, you could have a mental disorder.
Trading requires being updated on the market every moment and, therefore, can generate addiction.
There is a mental disorder that has emerged as the cryptocurrency ecosystem and trading has grown. It is an addiction like any other. Just as there are people who are addicted to tobacco, alcohol or gambling money, there are people who are addicted to digital currencies such as bitcoin (BTC).
Cryptocurrency addiction affects both users and investors who trade, assures BTR Consulting. Through a study, this financial consultancy discovered that there are three symptoms that prove if someone suffers from this psychological disorder.
First of all, constantly check your price. Second, think about the market when you would have to focus on something else, for example, in bed when trying to sleep or in a meeting with friends or family. And, thirdly, to feel anxiety and muscular tension due to the subject.
1 in 10 crypto traders is addicted
Trading in this industry consists of buying cryptocurrencies, such as bitcoin, and selling them when they rose in price to earn a difference in money. This activity requires being updated on everything that happens around them, from their volatile values to the latest related news, in order to speculate and make decisions.
Unlike stock trading, which operates from 9:30 a.m. to 4:00 p.m. from Monday to Friday, cryptocurrencies fluctuate in price 24 hours a day, 7 days a week. For this reason, traders of these financial assets must have self-control in order to carry out a healthy work routine, explains the financial consultant.
BTR Consulting estimates that 1 in 10 crypto traders is addicted. The agency details that these people usually dedicate all their time and money to online commerce. They tend to constantly think about the next investment and believe that a great victory is about to happen.
In addition, he claims that they end up having financial problems, as they spend more to recoup their losses, something that they often hide from their friends and family. They are unaware that they have an addiction and deny the problem if accused. These inconveniences generate depression, hopelessness, irritability and mood swings.
CriptoNoticias reported this year that bitcoin registered a trading volume seven times higher than that of Apple shares. Beating one of the most recognized companies in the world demonstrates the level of interest that exists in the cryptocurrency market, so traders must be careful not to fall into an addiction.