How to control stress and depression in a crypto winter?

Trading is not the only way to explore the world of digital currencies — you can create content, make Youtube videos, listen to podcasts, etc. When your friend or relative shares their success with crypto trading, you also feel driven toward it. As a result, people start with a minor trade and then expand to earn more substantial profits.

Considering the volatility of crypto assets and the 24/7/365 live market, people need to watch the market movements constantly to avoid losing money. This may result in a disruption in sleep, fatigue and increased anxiety, and it propels a fear of failure among traders.

In this article, we will discuss how to avoid crypto addiction, and how crypto traders can control the stress and depression linked with cryptocurrency investments during the upcoming crypto winter.

What is crypto addiction and how to avoid it?

When you keep playing with crypto projects despite losing your sleep, appetite or even money, you are exhibiting the symptoms of crypto addiction. Also, you don’t realize that you need to stop due to an uncontrollable urge to constantly monitor market movements and stay up-to-date on cryptocurrency news to execute trades.

It is essential to note that cryptocurrency by itself is not addictive, but when our brain is involved, everything can change. As you can always view your portfolio holdings in real-time and access the intriguing content that is regularly provided on websites like YouTube and it may make you addicted.

You are addicted if you spend a lot of time researching or trading cryptocurrency or monitoring charts. Also, ineffective attempts to halt trading and increase your risk without any real strategy show the signs of severe crypto addiction. Furthermore, a loss of interest in social interactions and other pursuits, experiencing stress, depression, mood swings, insomnia and poor mental health are all symptoms of being too dependent on crypto in your day-to-day life. So, what are the various ways to get rid of stress and depression in cryptocurrency?

To end your crypto addiction and the associated stress and depression, delete the crypto-related apps and distance yourself from any news targeting digital currencies. Alternatively, limit the amount of money you put into crypto investments and do not consider it your primary income source. Instead, look for other ways of making money in the crypto space.

All you need is to build skills related to the career of your choice. For instance, if you are interested in the Metaverse field, you need to gain knowledge of the technologies (such as artificial intelligence, the Internet of Things, virtual reality, augmented reality, etc.) that are used to build immersive worlds.

Finding a platform or exchange to help you achieve your goals based on your plan is how you can avoid emotional decisions. In addition, you must be aware of your spending limit and adhere to it; only invest what you can afford to lose because investing in cryptocurrency entails high risk. Once you’ve decided on a limit, abide by it. Don’t increase your spending on a whim or out of FOMO.

Another practical protective step that you can take is to set a limit order. For example, if crypto values fall sharply, limit orders might shield you from losses or aid in securing gains. With a limit order, you can choose the lowest price at which you’ll sell off your digital currency.