A hospital in Scotland begins treating individuals who are addicted to cryptocurrency trading.
Castle Craig Hospital, located in West Linton, Scotland, has started treating individuals who claim they are addicted to trading cryptocurrencies. Hospital staff are treating these patients like they would patients who are addicted to gambling.
“The high risk, fluctuating cryptocurrency market appeals to the problem gambler. It provides excitement and an escape from reality. Bitcoin, for example, has been heavily traded and huge gains and losses were made. It’s a classic bubble situation,” says the hospital’s gambling therapist Christopher Burn.
It is important to realize that comparing crypto trading to gambling is valid, as prices can fluctuate very quickly and thus provides an emotional response. The high-risk high reward quality of the current market conditions attracts many people to the crypto space.
While it is widely practiced to only invest and trade money that one can afford to lose, many people have gotten carried away and lost tons of money. It will be interesting to see if the hospital reports any success with helping individuals deal with an addiction to trading crypto. Hopefully, these individuals will see success from their treatment and that other hospitals can provide similar treatment around the world.
If you believe you may be suffering from an addiction to cryptocurrencies or an addiction to anything else, you can find Caste Craig’s website and helplines here.
