The wild swings in the cryptocurrency market over the last five years have shaken the confidence of many investors. The "Bitcoin Depression" has taken its toll on investors. Bitcoin has the potential to become a worldwide currency, but it is fundamentally a game of chance until new laws are adopted to protect the assets of ordinary individuals.
The University of Queensland concluded that cryptocurrency investors face the risk of "sudden and dramatic financial losses" due to the frequent occurrence of price drops of more than 50%. Therefore, this could then be linked to poor mental health, as some traders have reported anxiety, depression, psychological distress, and loneliness from severe losses. Another factor contributing to the unsettling nature of the Bitcoin market is the possibility of suffering a significant loss based on people's attitudes toward it in the market; this results in extreme anxiety and constant fear. Despite this, the Bitcoin market has a lot of potential in the future when stabilized.
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