Cryptocurrency addiction numbers are soaring, and 2022 will be a turning point where crypto addiction could become a global problem.
By analyzing Google searches and trends, we at DiamondRehabThailand.com found an increasing number of global searches for crypto addiction. Our data showed a spike in Google searches in January, May, June, August, and December 2021. The average monthly searches increased by 400% compared to 2020. In some cases, searches spiked by 2000% (late May) and 1600% (early August).
Why is this happening?
What this reveals to us is an increasing number of people looking for help treating crypto addiction.
A congruence of several factors enabled these spikes:
– The 2021 bull run (more info below)
– Elon Musk’s comments that Tesla will no longer accept Bitcoin or other cryptocurrency payments. His decision negatively impacted Bitcoin worth – resulting in a lot of people losing their initial investment
– Increasing number of cryptocurrency scams. During the course of 2021, scammers took a record $14 billion from investors. In 2021, losses from crypto-related crimes increased by 79% from previous years. Cryptocurrency theft, in general, soared by 516% from 2020
How does this all connect?
As research shows, losing a considerable amount of money on crypto, whether it’s through scamming or the volatility of the industry, puts investors in a desperate mode. At that point, they realize they need help in order to get out of the dire situation they’re in. This makes them search online for ways to cure crypto addiction in order to save themselves and those closest to them.
Bull run: Crypto addiction booster
Cryptocurrency investing skyrocketed ever since the COVID-19 pandemic. As new investors flooded the market, many investors cashed in their stimulus checks to buy digital currencies.
We’re seeing the effects of these actions right now. Crypto addiction is real, with many investors risking their life savings in hopes of doubling, tripling, and in many cases, quadrupling their investments. But the end of the bull run paints a very different picture. With the crash of the market, many investors lost their investments. The hope of a market rebound incentivized investors to funnel even more money in.
Theo De Vries, CEO of DiamondRehabThailand.com, says:
“Crypto addiction might sound like something completely new, and somehow, it is. We can’t deny that crypto, in general, is a recent phenomenon. Nevertheless, trading addiction has existed for many decades and having the urge to check your portfolio every 30 minutes isn’t new for therapists working in the rehab industry.
Crypto addiction will be treated as a form of gambling addiction. An alcoholic’s life becomes unmanageable in all areas, including social life, work, finances, etc. Gambling addicts have that same unmanageability in common.
It’s a fact that gambling addiction has the highest suicide rate of all addictions. I would like to point out that there is always help available to overcome every addiction, including a crypto addiction. As long as the person is willing to change, a good treatment centre can give you the tools to abstain from any form of gambling.”
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