Bitcoin, Litecoin, Ethereum, Coin Exchange, — we’ve been hearing these words all over the news and the internet. This is since cryptocurrency has set off and is acquiring attention locally and internationally. One may feel lost and left out especially when they don’t entirely comprehend or don’t have a single hint of what this trend is that is why some people look at Bitcoin Signals too.
What is Cryptocurrency?
To put it simply, cryptocurrency is internet money which means it is virtual or digital in form. It uses cryptography to protect and have safe transactions. “Cryptocurrencies have been around for over eight years, and they currently have a market value of around $170 billion.” This is according to Cryptominded, a guidebook of resources to cryptocurrency. Cryptocurrencies are transforming the manner of how we do transactions in terms of finance since Cryptocurrency permits for smooth and straightforward transactions between individuals or parties without necessitating the authentication of a central corporation such as banks and other financial companies.
This new crypto industry is very can be promising even for adolescents. For example, Eddy Zillman, 18, who is from Ohio, began exchanging legal currency when he was 15, which was given to him on his bar mitzvah. With hard work and diligence he today has his own consulting business for cryptocurrency and has “made close to a million from trades.” His consultancy company, Cryptocurrency Financial, offers investing advice on cryptocurrency to novice investors as well as businesses.
But is there an impact on one’s mental health when doing high-risk investments such as Bitcoin?
One stressful process that traders and investors go through is the decision-making on finances. In terms of investments that are high-risk yet may yield high-reward like bitcoin, an investor may be subjected to unstable feelings and emotions. As noted by Bitcoin.com, there’s was a story regarding an investor who killed himself because of a severe depression concerning an investment strategy on bitcoin that have gone wrong. Trading is stressful and traders should seek for life saving medical technology to help them alleviate their stress levels.
One of the most nerve-wracking processes of high-risk trading are the emotions felt by the individual since it can be indecisive and be fluctuating. In 2017, research by British researchers says that there is proof that “decision-makers in a happy mood have higher levels of financial risk tolerance, holding bio-psychosocial and environmental factors constant.” There then can be a temporary inclination to “buy on the emotional high,” mainly among novice investors.