blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
BET NOW
blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
blockchainreporter
BET NOW
No Result
View All Result
Bitcoin
BTC
1d:
7d:
Ethereum
ETH
1d:
7d:
Polkadot
DOT
1d:
7d:
Solana
SOL
1d:
7d:
Ripple
XRP
1d:
7d:
Shiba INU
SHIB
1d:
7d:

Recent Crypto Market Crash Causes Mental Health Crisis

Josh Fernandez by Josh Fernandez
May 19, 2022 - 8:10 am
in Education
0
Crypto Crash
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Following the recent crypto market crash that was triggered by the collapse of Terra Luna, various investors have reported experiencing mental distress. They report experiencing depression, anxiety, and even suicidal thoughts.

Crypto Investors Facing a Mental Health Crisis

The crash of the TerraUSD cryptocurrency is the genesis of the current crisis. Since it crashed, many investors have been openly talking about the mental distress they are experiencing on anonymous platforms. Some people claimed that they had seriously contemplated suicide after losing their investment in Terra Luna. Thus far, there does not appear to be any encouraging news as the crypto market has continued to crash. 

The Mental Impact of Losing Money

When an investment suddenly turns into smoke, whether in the stock market or the crypto markets, it causes people to experience a sudden sense of loss. As a result, most people did not have time to prepare themselves mentally for such a huge loss. The feeling is similar to finding out about the death of a person who was close to you. When people experience this sudden feeling of loss, it can manifest in various ways. People can experience emotions ranging tom anger to sadness.

For now, most people have been directing their anger at Kwon, the creator of the Terra ecosystem. According to the experts, this is an expected outcome. Whenever people experience sudden loss, they try to find someone to blame, in this case, the developer has been an easy target.

The feelings of loss are further exacerbated by the fact that there are little to no legal protections for crypto investors. In the mainstream financial markets, there are various measures put in place, which are designed to protect investors from catastrophic losses. While these measures are not perfect, they do ensure that investors will receive some compensation in case anything goes wrong.

Understand the Risk of Investing in Crypto

Crypto investors have always been considered a risky investment. Up to now, it has been up to investors to assess their risk appetite, and make an appropriate investment. However, after the recent market crash, regulators around the world have begun speaking up. One reason for this is that the crypto market has grown in recent years, and such crashes now affect a bigger portion of the population. Various regulators, including the Treasury Secretary Janet Yellen, have called for regulation of stablecoins by the end of 2022 following the crash of Terra.

During a recent hearing before Congress, Yellen said that TerraUSD experienced a run, which caused its price to crash. In the mainstream financial world, a bank run would never be allowed to go its full course. The reason for this is that there is regulation meant to protect the financial system from total collapse.

Despite the warnings from experts, the crypto industry is growing. One reason for this is the high-risk high-reward model of the sector. For instance, since Bitcoin was created, it has minted quite a few millionaires and even some billionaires. In any other asset class, it would be almost impossible to experience such growth after just a small investment a few years ago.

Tags: CryptoCryptocurrencyMarket
ShareTweet
Josh Fernandez

Josh Fernandez

Josh Fernandez is a well-known crypto journalist who has been actively covering the world of cryptocurrency and blockchain for several years.

Recommended For You

DeFi vs Traditional Finance : A Comparative Study

by Max Clark
May 20, 2023 - 6:33 pm
0
defi tradfi traditional finance

Explore the evolving landscape of finance as we compare traditional finance systems with the burgeoning world of Decentralized Finance (DeFi).

Read more

Demystifying Blockchain Technology Kya Hai

by Max Clark
May 8, 2023 - 2:31 am
0
Blockchain Technology

Explore blockchain technology fundamentals, learn what "blockchain technology kya hai," and uncover its benefits and innovations in the digital world.

Read more

Pepe Coin Craze: The Resurgence of Meme Coins

by Mushu Butt
May 3, 2023 - 5:06 pm
0
pepe coin

Are we seeing the resurgence of meme coins with Pepe coin at the forefront? Is it a good investment? Find out in our analysis of the Pepe coin...

Read more

Big Eyes Crypto – A Comprehensive Overview of the Emerging Digital Currency

by Max Clark
April 26, 2023 - 12:08 pm
0
big eyes

Discover the potential of Big Eyes Crypto (BIG), an innovative digital currency revolutionizing DeFi, and explore its unique features and ecosystem.

Read more

Introducing Shibarium: The Next-Generation Blockchain Ecosystem

by Max Clark
April 17, 2023 - 6:14 pm
0
Shibarium SHIB Shiba Inu

Discover Shibarium, a next-generation blockchain ecosystem revolutionizing decentralized finance with improved scalability and reduced gas fees.

Read more
Next Post
SWIFT Russia Blockchain

Russia To Legalize Crypto As Payment

PARTNERS LIST

  • sp

PRESS RELEASE

photoy

HedgeUp (HDUP) Showcases Why It’s a Better Token Than Chainlink (LINK) and Solana (SOL)

by Max Clark
June 1, 2023 - 1:38 pm
0

Explore the dynamic world of cryptocurrencies with our detailed analysis of HedgeUp (HDUP), Chainlink (LINK), and Solana (SOL).

kine protocol

Kine Protocol Achieves Major Milestone with MSB Cryptocurrency Trading License

by Max Clark
June 1, 2023 - 10:12 am
0

Kine Protocol, a leading decentralized exchange, earns a milestone MSB Cryptocurrency Trading License, marking its entry into the US market.

imageedithAICLCD

Bumper’s Breakthrough DeFi Protocol Set to Reshape Options Pricing

by Chainwire
May 31, 2023 - 2:06 pm
0

London, United Kingdom, May 31st, 2023, ChainwireMarking a seismic shift in the digital asset landscape, DeFi platform Bumper today unveiled...

photoy

Ripple (XRP) Price Prediction – Ripple (XRP) Struggles to Hold Leading Position with HedgeUp (HDUP) and Solana (SOL) Covering Crypto Ground

by Max Clark
May 31, 2023 - 12:51 pm
0

Explore the high-stakes world of cryptocurrencies as Ripple (XRP) fights to maintain its leading position against rising contenders, HedgeUp (HDUP)...

n

BlockchainReporter is a trusted name in the cryptocurrency and blockchain technology news space, keeping its readers abreast of the latest and most significant trends in the industry.

Here at BlockchainReporter, our team of global writers is dedicated to providing price analysis on leading cryptocurrencies and covering the latest developments pertaining to bitcoin news, altcoins news, blockchain news, NFT news and cryptocurrency adoption news from around the world.

News

  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • Adoption
  • NFT
  • DeFi
  • Metaverse

Info

  • Education
  • Glossary
  • Market
  • Press Release

Company

  • About Us
  • Terms & Conditions
  • Advertise
  • Sitemap
  • Contact

@2022 – Blockchainreporter.net. All Right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise