Crypto trading has caused more depression in 2021/2022

[White billionaire]

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

[cryptoaddictchie]

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.

[Cookdata]

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.



If you are good trader, there should be a good management risk in your trades, there are dozen packs of traders that are enjoying shorting the markets and have made huge amount of money from it, just because markets is dumping doesn't mean traders are not making money, only the holders do feel the pain especially the Altcoins holders, bitcoin is always fine as it always goes up.

[SatoPrincess]

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

Partly true. Even the so called stable coins are losing their peg. I feel for those Lunatics, hodling altcoins is a mind game not many can play. In my case, I’m sad bitcoin dipped below 30k, really sad because I planned selling some bitcoins to pay for my medicals. The dump was unexpected and bitcoins is still dumping. I know I can’t sell now if I do I will suffer 50% loss. This is why it’s good to have fiat in hand.

[Munir575]

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.

[Bhig Daddy]

I can't say crypto hasn't caused alot of depression all over the world, but is losing your life the way out, I don't think so. I know most people might have invested their life saving but it not really worth your life. So stay calm and strong and hope for a better tomorrow, their is always a light after the tunnel.

[BITCOIN4X]

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

Remember, this is a free market and we cannot always expect profits while we ignore potential losses. Sometimes a team's decision can reflect why their altcoin has become more expensive, but sometimes it will just cost them a large part of the price. It would definitely remind me of the best investment advice: Do as much as you can afford to lose.

I believe depression can happen to traders as long as their expectations don't match reality. But suicide is not the final solution that will solve the problem because in reality life is still much more meaningful than money.

[death69]

It is hard to make such a conclusion without clear statistics. but what we know is that the current market has grown quickly and many many people have invested their money in cryptocurrency. That is why we should split our funds into multiple parts in order to avoid big losses and always save some of your funds as bitcoin.

RIP to those who have committed suicide cause of Luna.

[qwertyup23]

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

Is this what has been happening now? Do you have any verified sources to support your claim about these suicides rates that has been happening?

Anyway, given that the prices of BTC has dropped significantly and almost by half, it is but normal for everyone to panic especially to the HODLers who have millions worth of $$$ in their respective accounts. But, a cryptocurrency investor would most likely look at the positive side of the spectrum- this volatility is nothing but normal and they would take advantage to acquire more in the process.

[Widdop37]

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.



If you are good trader, there should be a good management risk in your trades, there are dozen packs of traders that are enjoying shorting the markets and have made huge amount of money from it, just because markets is dumping doesn't mean traders are not making money, only the holders do feel the pain, especially the Altcoins holders, bitcoin is always fine as it always goes up.

Why would anyone take their own lives because of money?/it doesn't make any sense, I have lost it all twice in my lifetime and I've never thought about taking my life, in 2021 I lost 25,000$ to a meme coin, I came out with nothing after I found a way to make 700$ I lost 500$ to another scam project, I learnt the hard way, taking ones life isn't worth it.

[GiftedMAN]

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

Op try and get your facts right before posting, do not compare traders who lost funds in trading or investment to those who are affected by the dip, no statistics are backing up that post so please bitcoin price drop has nothing to do with those who took their lives(Suicide).

[pooya87]

Unfortunately this has always been the fate of those who enter a high risk investment without any knowledge, effort or even listening to other experts. For example those who borrow money to invest in an extremely volatile altcoin, sell their house to buy a shittoken, ... are expected to endure huge losses.

It is very sad to see their fate but what more can we do? We keep warning them about their high risk actions, about buying altcoin, about investing what they cannot afford to lose and yet they don't listen.

so please bitcoin price drop has nothing to do with those who took their lives(Suicide).

When people say "crypto" they almost always mean altcoins not bitcoin. In this case the story as others pointed out seems to be related to a shitcoin called Luna.

[Israelgogo]

Due to the recent experience been faced by crypto many youth are facing a hard time and complaining bitterly gor lost of money ,a closer friend of mine lost $23,000 and he has been so aggressive and moody since then ,he is the bread winner of his family and younger onces ,So many of this youth facing this challenges and complaining bitterly online ,some even depressed writing suicidal post. Should we say crypto has been of good , the bad and the ugly.

[Kelvinid]

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

Does it really worth enough for them to commit suicide? That kind of thinking is too disappointing, not it deserves to kill yourself because you lost money.
In fact, this situation is already been anticipated. We even think that this will come last year supposedly if we are right with our predictions but it comes late. I understand that many were just new to this bear market but I don't think we are not aware of this. Because if we do the search before investing I believe we are too aware of the volatile nature of the market that one day prices will pump and dump.

[hugeblack]

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.

[White billionaire]

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

Op try and get your facts right before posting, do not compare traders who lost funds in trading or investment to those who are affected by the dip, no statistics are backing up that post so please bitcoin price drop has nothing to do with those who took their lives(Suicide).

I know what I'm saying. You are the one being biased. Bitcoin dip affected the crypto market. When Bitcoin dipped, altcoins dip if Bitcoin had maintained a support at 30k, there is a probability the loss would be have been minimal.

[decodx]

What more should we expect

The chief problem, of course, is that some people are now feeling that the worst is not over for them. When you see a cryptocurrency crash, and it crashes by 50%, and it crashes by 80%, and it crashes by 100%, many people in the crypto community really get concerned about their future and their wealth. People have a hard time accepting the fact that their money is gone and can't be gotten back. There are emotions involved, too, like blaming one other or blaming the developers of the cryptocurrency, or blaming the community. The whole thing is very emotional. And some people get very upset and can't take it. It's hard to predict how all of this will play out in the next few months, but most people are sure that these collapses will not go on forever. Crypto will come back. People will once again get excited about buying digital assets. Eventually, I hope that people will learn their lesson and be more cautious about spending their money in the future.

[m2017]

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

Partly true. Even the so called stable coins are losing their peg. I feel for those Lunatics, hodling altcoins is a mind game not many can play. In my case, I’m sad bitcoin dipped below 30k, really sad because I planned selling some bitcoins to pay for my medicals. The dump was unexpected and bitcoins is still dumping. I know I can’t sell now if I do I will suffer 50% loss. This is why it’s good to have fiat in hand.

Holding a fiat in hands is good and convenient for current expenses. There is nothing good in storing fiat in the long term, and here the advantages are on the side of bitcoin. In turn, using BTC for short-term purposes, as many have now seen, is very unprofitable and dangerous. Each financial instrument has its own tasks that they solve. There is no universal tool, and therefore, there is only one way out - diversification. Investors who only bet on crypto are now depressed and in serious financial trouble. "Games" with money are not amusement at all, as many people think.

[coolcoinz]

Although suicides are a sad thing, those people are in a way victims of their own greed. For this to happen there has to be a certain chain of unfortunate events and irresponsible actions taken by an individual. In case of Luna it was the following:
They chose to invest in a new altcoin, instead of an established project like BTC or ETH.
They went all in, investing more than they can afford to lose.
They did not set any stop losses, did not react fast enough.
They were greedy and decided to hold a coin that obviously had huge problems. For me personally, the first red flag would be promising to buy 2 billion in BTC and buying only half of the promised amount. The second red flag, selling the btc safety fund all at once - it's a sign of panic and irresponsibility by the owner.
If you sold at first red flag you'd be up on your investment, if you waited to the second one you'd be down about 60%, if you disregarded both, you took a 100% loss. Only shitcoins and scams can go that low.

No matter how bad it looks, you are alive. Money can be made again, it's not the end of the world. Don't ever kill yourself over a stupid investment, your life is worth more!

[Pmalek]

There are several reasons for that: wrong investment strategies, no risk assessment, investing too much or all your capital, investing in dubious altcoins you know very little about but someone said they will become the next Bitcoin, etc. There is no such thing as a safe bet and there are no sure things in investments and speculative asset classes. Understand the risks and the possibilities that you can lose all of it.

People never learn and when they are in over their head, unfortunately they take the suicide route. But that's just the beginning of new problems and pain for their families.