LA Times, a popular news platform in Los Angeles, recently mentioned it in its podcast the Times about cryptocurrency addiction. Indeed, it is clear that Cryptocurrency addiction is back in full force. Gustavo Arellano, the podcast’s host, noted that the current market conditions have made the addiction worse.
Arellano also indicated that an addiction is also facilitated by all the different apps and platforms that are easy to reach. In addition, it does not help that the market is open 24/7.
People are obsessed with cryptocurrency
Co-host Andrea Chang described the cryptocurrency market and indicated that a lot of interest in the market is because people want to make a lot of money quickly and they get the idea that this can be done through cryptocurrency.
Chang had also shared a story of an addict in an article of hers in the LA Times. He indicated that cryptocurrency also affected his entire daily routine and social life.
†They are now concerned that they are addicted, completely addicted to crypto, they can’t stop trading, they can’t sleep, have trouble eating, say no to social outings with friends or ignore their familyâ€
Another example picked up in the podcast was an anecdote of a 26-year-old woman from England who first entered the cryptocurrency market in January of this year. Chang indicated that this lady stayed up until 5 am to check the rates. During the day she also did this hundreds of times a day.
Should you seek help?
Ashley Loeb Blassingame, co-founder of advisory service Lionrock, said it’s no wonder people become addicted to the cryptocurrency market as gambling and crypto stimulate the same part of one’s brain.
†Crypto addiction works the same way as almost any other addiction, and it’s the closest thing to gambling in terms of, you get dopamine hit every time you make a transaction, it’s that stimulus that part of our brains searchesâ€
If you suspect that you also have an addiction, it is best to seek professional help.