It should be noted that there are plenty of reasons to worry about the cryptocurrency market situation right now. In particular, this is how the results of crypto-assets price movements over the last month look like.

Cryptocurrency price movement results over the past month

Many popular coins like SOL, AVAX, ETH and ADA have lost tens of percent of their own value, which has also ended in financial losses for investors.

In this regard, Cardano creator Charles Hoskinson, among others, announced the beginning of a new bearish trend in the crypto-asset market, i.e. the stage of their protracted collapse. However, such conditions are not the end of the world. As experienced traders and investors point out, the market downturn stage is the best period to accumulate quality projects. We wrote more about their recommendations in a separate article.

What problems do cryptocurrencies cause

According to the man, cryptocurrencies occupy all his thoughts from the moment he wakes up until the end of the day. Here is his line, as quoted by journalists.

I live and breathe crypto. Before I go to sleep and after I wake up, it’s the first thing on my mind. I work with cryptocurrencies around the clock.

Note that cryptocurrencies are really the first things that come to mind after waking up - especially during bullruns. Note from experience that coin rates are seriously interesting in the morning, as they tell you what your earnings were overnight.

Crypto is addictive, trade with caution

Ether co-host Andrea Chang noted that cryptocurrencies have “all the necessary kit” to attract people – banal curiosity paired with the desire to make large sums quickly. The situation is only exacerbated by numerous stories of successful investors who were able to get rich very quickly thanks to digital assets. Cryptomaniacs themselves experience symptoms similar to obsessive-compulsive disorder.

It’s getting to the point where people are now seriously worried about their addiction. For example, they can’t stop trading, can’t sleep, have trouble eating, refuse to talk to friends or ignore their families.

Again, sleep problems have been experienced by us too. When the market is growing, it's hard to break away from schedules - and especially in bed.

One such patient is Sabrina Byrne, a 26-year-old woman from England who first invested in cryptocurrencies in January 2022. Chung claims that Byrne often stayed up until five in the morning, checking coin prices on her phone a hundred times a day. Fortunately, there is a universal recipe for helping people like this after all.

The first sign of addiction – you can’t tear yourself away from cryptocurrency charts

According to CryptoSlate sources, in this case, you should apply tactics to combat the addiction itself. That is, you need to limit the time you spend in front of crypto charts, devoting hours to it rather than an entire day. The addiction can be overcome by replacing it with useful hobbies, spending time with family and friends. After all, the crypto market should not “devour” a trader, otherwise the very meaning of investment is lost.

Read also: Experts are confident in crypto's superiority over traditional assets over the long term. Why?

And while some are trying to beat the new addiction, others are just starting to look favourably on crypto. Among the latter is renowned investor and Soros Fund Management co-founder Jim Rogers. In a recent interview, Rogers admitted that he regrets missing out on the opportunity to buy Bitcoin at $1 nearly a decade ago. He also predicted that cryptocurrencies could play an important role in the economy of the future, while condemning centralised banking digital currency (CBDC) projects, according to CryptoPotato.

It’s worth noting that Rogers’ previous stance on Bitcoin was not as positive. Almost two years ago, he suggested that the distribution of wealth in the crypto market was “just a gamble” and that BTC was overvalued and in addition would eventually disappear. Here’s one of his quotes.

Cryptocurrencies didn’t even exist a few years ago, but in the blink of an eye they have become hundreds or thousands of times more expensive. It’s clearly a bubble, and I don’t know their “right” price.

Soros Fund Management co-founder Jim Rogers

The shift from the camp of critics of cryptocurrencies to their supporters happens quite often. Billionaire and Dallas Mavericks team owner Mark Cuban is a good example. He has argued in the past that Bitcoin has less real-world use than even bananas. That said, he has become a well-known figure in the crypto crowd in recent years. Last year, for example, Cuban called Bitcoin a financial religion and a better investment vehicle than gold.


We believe that cryptocurrency addiction and the problems associated with it are absolutely real. Yet the emotions of rising and falling exchange rates are commonplace, so what happens to coins is reasonably an important part of investors' and traders' lives.

In this case, it is crucial to safeguard your own health and not to sacrifice your free time. As practice has shown over the years, choosing the best time to enter a position is most often a matter of guesswork. Also, it is important to understand that there will always be opportunities in the digital asset market.


What do you think about it? Share your opinion in our millionaires’ cryptochat. There we discuss other important points from the blockchain industry.