Friday, February 9, 2018

Bitcoin anxiety is becoming a mental disorder as Russian company opens help hotline for investors unable to handle its volatility

In the U.S. there are hotlines for everything, including of course one for gamblers unable to stop their addiction to betting on risky things.  In fact the Psychiatric association declares compulsive gambling as a mental disorder, with there being a real threat that their compulsions could drive them even to the point of committing suicide.

Speculative investing can in many ways be considered a form of gambling, even if a trader studies the fundamentals (odds) the same way a gambler does in their own games of chance.  And often you can see even ordinary people get caught up in this speculation as was done in the late 1990's during the Dot Com mania.

Today the hyperbolic speculative bet come in the form of cryptocurrencies, which in their volatility and potential for incredible reward offer an emotional rush as well as a investing opportunity.  And all one has to do is go out on Youtube to see video after video of ordinary people hawking Bitcoin and other cryptocurrencies as going to stars in their potential for riches.

So with this being said, and with the mania behind cryptocurrencies being very real, a company located in Russia that actually buys and stores cryptocurrencies for clients has opened up a hotline for them to aid in their anxiety, and to help them deal with the volatile nature of their investments.
The violent price swings of bitcoin and other cryptocurrencies is rattling the nerves of investors. A Moscow-based company has launched a hotline to help ease their anxiety over crypto market fluctuations. 
Back in December, bitcoin smashed an all-time high of $20,000, but then dropped below $6,000 this week. This is a huge cause of stress for miners and investors in cryptocurrencies that could even lead to mass suicides, psychologists claim. 
A Moscow-based company, Blockchain Fund, which buys and stores cryptocurrency for clients, has opened a hotline for them. 
“Some people are in a panic, they don’t understand what is happening. At first everything was so good in this market, and now it has faced such changes," Elena Pikhovkina, a psychologist working on the hotline, told 
"First of all, I will get acquainted with people in my work, listen to their stories and then give advice on how to calm down and recover. It is very important so that a person does not do anything stupid," she explained. – Russia Today


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