Some crypto traders are admitting themselves into rehab

Some crypto traders are admitting themselves into rehab
Representations of cryptocurrency Bitcoin are seen in this picture illustration taken June 7, 2021. REUTERS/Edgar Su/Illustration

Some cryptocurrency traders are now going to rehab. Yes, we’re 100% serious. Think luxurious clinics in Switzerland for US$90,000 weekly for treatment to less expensive telehealth options. Our team found a clinic In New York that defines this peculiar modern illness as “a pathological obsession and compulsion to buy and/or sell cryptocurrencies such as Bitcoin, Ethereum … and may also involve a preoccupation with staying updated on changes in price by constantly observing charts, reading crypto news, and engaging in other means of informing oneself of potential price action.”

If you’re worried that you may have a crypto trading addiction, Paracelsus recovery in Switzerland (this is the one that charges the cool US$90,000 per week) offers treatments overlooking Lake Zurich and the Alps and says to ask yourself questions like if Bitcoin prices are the first thing you look at when you wake up and the last thing you look at before bed. Do you find yourself acting on irrational beliefs, such as feeling ‘lucky?’

Key comments:

“I was addicted to cocaine, and I was addicted to gambling. If I didn’t have cocaine, I was fairly happy gambling. You’re always chasing the next high, and you’re never satisfied with the next high,” said Steven Elphinstone, who went to Castle Craig Rehab center in Scotland.

“It’s very similar to being at a roulette table. It’s seemingly never-ending, and it demands your attention. If you take your eyes off the prize, you could miss out on massive opportunities and incur massive penalties,” explained Dylan Kerr, an online therapist in Thailand who has treated about 15 self-professed crypto addicts and accepts payment in cryptocurrency.