The characteristic volatility of the crypto market, especially over the last few weeks, has some investors experiencing feelings of anxiety and worry. A Moscow-based platform hopes to alleviate some of this stress with the launch of their new hotline.
Even though Bitcoin is partial to price unpredictability, the last few weeks have been quite tumultuous. Just two months ago, the darling of the cryptocurrency world was riding the $20k wave. In addition, major financial institutions either voiced their initial support or swallowed a healthy serving of humble pie along with their previous crypto critique.
Then the last few weeks happened. During this week alone, the virtual currency dipped below $8k. These drastic price drops have caused uncertainty and anxiety among some investors.
Feeling Financial Pressure from Price Drop
In fact, according to RT News, this stress could even lead to suicide for those affected, such as miners and investors, something that Blockchain Fund hopes to help avoid.
The Moscow-based company, which buys and stores cryptocurrency for clients, had introduced a hotline aimed at helping those feeling the pressure of Bitcoin’s price fall.
Elena Pikhovkina, who is a psychologist involved in this initiative, explained why some people could feel a certain level of distress:
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.
Pikhovkina went on to explain the process a bit further:
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.