Crypto trading has caused more depression in 2021/2022

[SatoPrincess]

No one can deny the negative psychological impact of trading and losing money, so I suggest that you stay away from all social media for a week or a month and then visit a psychiatrist or go to the countryside, this will benefit you a lot.

Unfortunately, it will not be the last time in the cryptocurrency or Bitcoin market, perhaps Bitcoin will restore its past prices, but this does not include most of the altcoins.

Staying away from social media is one of the most difficult thing to do, especially when you are used to it. Sometimes families or even at ones place of work, people tend to remind you about your lost, and it ends up putting you in a depressing mood, without them knowing what they've done.
I strongly agree to meeting psychiatrist or taking a vacation. Just to take one's mind from everything. But at the end of the day, it's not easy to forget

Everyone has their own method of coping with financial loss. I hang out with friends and do fun things to get my mind off the reality that I lost money. Depression is real, I do not joke about mental health.
White billionaire, learn how to use quote properly. There’s an error in your quote. You erased the user post link you’re quoting and left only yours. And also read the forum rules https://bitcointalk.org/index.php?topic=703657.msg7955645#msg7955645. You will find you unintentionally broke rule 32.

[Oshosondy]

In the past few days, the crypto market has taken a diped turn.
People have committed suicides.
What more should we expect

What happened recently is not new, people should know that the market can not always favor. If people do not go for altcoin, bitcoin will reach ATH again but it can be long, they should not worry, but just that some altcoins may not reach ATH again while some may become shitcoin.

Sorry OP, but your title is very biased. If you want to blame someone, blame company behind Luna who decide to remove the peg on UST. While some Luna holders have poor management risk or poor mental health awareness, it's different topic.

Another warning that altcoins can be shitcoin, though some altcoins are doing well but Luna will not be the last altcoin that will become shitcoin, it can even happen to some other altcoins.

Crypto market is really down now, we are losing money already so losing our lives should not be an option its not the way out. Let's not make our family, friends and close ones to suffer and lets not forget "if there is life there is hope". Stay Strong wherever you may be.
Posted on: May 12, 2022, 09:50:55

Some people are whales and are still holding, even people like Microstrategy are still holding. Do you know what these whales have lost? But they know that they do not lose because market will rise back. What that matters is to not hold shitcoin which is the loss that should be talked about.

Everyone has their own method of coping with financial loss. I hang out with friends and do fun things to get my mind off the reality that I lost money. Depression is real, I do not joke about mental health.

It was a financial loss for me because I held Luna, it has gone and I know I will make it back and be strong. If there is life, there is hope. But I still have certainty about my bitcoin holding, it is not a loss, it is a correction which will still lead to bitcoin to reach $100000.

[uchegod-21]

What nearly caused me depression was scam and not market condition. Everyone buying or selling any coin already should know the dangers in crypto. Many people are depressed there is no doubt about it and many people are making monies amidst the market conditions.
People  were crying for Luna and some people bought Luna and it did x10 for them. That is just it. Nobody should forget this two rules.

1. Do not invest what you cannot afford to lose
2. Diversify your portfolio.

[The Cryptovator]

People committed to suicide because they don't follow crypto rules. That is don't invest if you can't afford losses. Crypto is a volatile currency that anything would happen at any time. Even we see the Bitcoin price when start dumping it' dump too much. Everywhere is at risk. But whatever you do, always should remember you can earn or recover if you are alive. Otherwise, nothing will change if you decide to leave the wonderful world. Trading something like a gamble where you would lose everything. Explain yourself, and find a way of recovery.

[Rengga Jati]

In the past few days, the crypto market has taken a diped turn.
People have committed suicides.
What more should we expect

This always happens when the bear market comes, when the price crashed so extremely, that many investors, holders, and traders are not ready for the situation. But this is normal because they may put s much money in certain crypto and they experience extreme losses. Moreover, the ones who use loans to invest will be more depressed to see the market crash very quickly.
If we see, the situation also brings other FUD again, moreover the news about suicide people after Luna crashed market, this really influences the crypto world FUD.
That is why it has been said many times that investing in crypto is very risky. If we are not ready with every risk that we may experience n the future, better to stay away fromc rypto. Or we must be wise enough in investing, taking profit, not being greedy and be smart investing.

[Viscore]

In the past few days, the crypto market has taken a diped turn.
People have committed suicides.
What more should we expect

Its quite unfortunate actually. The recent incident on luna dumped is really shocking and I am not gonna say no one would do such thing due heavy loss especially on those bet all im theit hard earned money. Its really depressing how this turns out plus the market sentiment. But of course they should be always ready and dont forget the golden rule that invest only you can afford to lose.

That's how investment works actually. You won't expect that its price will always be surging, there will really come a time that you get to lose what you have been profiting, and Luna is not an exception. I guess people end up in depression when they start to believe on things that would hardly become possible in the future. If only they stick to investing on the amount they can afford to lose, things will never end up this way.

[Poker Player]

If they weren't dead I would be harsher with what I'm about to say.

On reddit there were many posts saying they were thinking about suicide but as has been commented in the thread it is because of greed and also disregarding basic investment rules. I comment cases:

1) There were people who had taken a mortgage on their house to invest it all in the shitcoin.
2) There were people who had taken personal loans to invest in the shitcoin.
3) There were people who had invested money from relatives without their knowledge in the shitcoin.
4) There were people who had invested absolutely everything in the shitcoin.

It reminds me of the Darwin Awards: people who die because they want to take a selfie on the edge of a cliff to get a lot of likes on Instagram or whatever and they get off balance and fall off the cliff.

[Woodie]

Not a vivid follower of Luna but its unfortunate what happenedto it as a result of the devs actions, but one fact that stands in the crypto markets is people are making bank in both bearish and bullish trends! Markets do not necessarily have to be always bullish for you to see gains, unless one is talking from a point of being a hodler otherwise as a trader you can always  go long or short the markets and make your coins .

[Queentoshi]

In the past few days, the crypto market has taken a diped turn.
People have committed suicides.

The people who committed suicide were already suicidal and we can't say it is all the fault of the crypto market. Many persons have been in this position plus the the current situation in the market is a general thing, I agree that our losses during this time have been different, some people have lost more than others, but it still not enough reason to take your life. You should be able yo draw consolation that the situation has not affected only you but everyone. This is one reason why it always important to have someone to talk to, so situations like this don't eat you up.

[Masplanc]

I still wonder why people haven't understand what cryptocurrency  is, they only think cryptocurrency is all about to make gains. Before going into cryptocurrency it is good to understand that cryptocurrency is a volatile,  anything can happen. One need to have courage and to be strong during the day's of the dip.

[NotATether]

This is a sympthom of too much attachment to money. [And if you did not put most of your life savings into a trading account, then you would not be so attached to it.]

People must understand that money (including crypto) is not the last thing in the world. Even if you end up losing nearly all of your money while *trading* (it is impossible to lose everything if you simply buy and hold, for this is a transient stage), you will still be able to pull yourself out of bankruptcy in a few months.

If you have a weak mentality, a weak mindset, then you won't be able to overcome even life's most basic obstacles that face you, such as this one - I mean goodness, how many more bear runs have we endured in the past?

If you simply plan for today - without worrying about any of the "what if"'s  of the future - then you'll have ample amount of money to make it through the day if you cut down on unnecessary purchases on that day.

Worry is one of the leading causes of death among developed countries, so stop worrying about stuff and take it easy, one step at a time.

[frankomighty]

I have been there and the same has happened with me. This is a part of the the traders journey, unless they have a mentor to guide them.

A few days profits and one big loss is good enough to demotivate and create emotional turmoil and the scars stay with you creating biases whenever you progress.

For me, i had to check on my analysis and setups to see what worked when i made profits and what went aganst me when i made the big loss.

[stompix]

This is not true the way you put it. This was the tweet that came out earlier about some Luna holders who committed suicide due to the losses they encountered in Luna saga. This is more like investment gone wrong than trading as you claimed.

I don't believe any of those tweets.
How were they even confirmed, if they would have made their last testimony before we would have seen them if there were suicide letters left the same?  Also, the tweet came on the 11, and the crash started on the 9th, even if we assume somebody would have done so the next day when Luna went down to 20$ from 100$ I don't see police confirming the cause of suicide 24 hours after. And again, we would have seen those police reports.

Besides, and here is my turn on just supposition, I don't think people who were accustomed to crypto and played with large sums would have so harshly decided to commit suicide, if this might happen and I don't deny some might, it will take a lot of time before it when there is like zero hope and all the doors are closed.

On reddit there were many posts saying they were thinking about suicide but as has been commented in the thread it is because of greed and also disregarding basic investment rules.

Unfortunately, this is a bit more complicated case, when some people who were not greedy got burned hard, and those were the ones that hold UST, which would be quite ironic if not tragic, since they were simply trying to (assumption), avoid market volatility and stay safe. The ones that simply exited the market and bought ust just so they would not have to follow the prices during a holiday or a vacation and two days later saw their accounts drop by 20% can't be really blamed for anything other than, let's say gullibility at most.

[Kasabus]

In the past few days, the crypto market has taken a diped turn.
People have committed suicides.
What more should we expect

Its quite unfortunate actually. The recent incident on luna dumped is really shocking and I am not gonna say no one would do such thing due heavy loss especially on those bet all im theit hard earned money. Its really depressing how this turns out plus the market sentiment. But of course they should be always ready and dont forget the golden rule that invest only you can afford to lose.

No one's expecting really about the sudden dump of Luna, and those who were not able to control theirselves anymore end up in depression and worst is some committed suicides. Though things like this is very inevitable, but if they did not put their eggs in a single basket, then they won't be feeling this frustration these days. And of course, they should never ignore the very first rule when it comes to investing, always invest what you can afford to lose.