If something manages to induce an extreme feeling of euphoria or complete disappointment in you, it is probably addictive. This is what the luxury rehabilitation clinic looks like The balance describes cryptocurrencies, adding that the addiction is similar to gambling.
The Balance is a rehabilitation company that offers treatment programs for anxiety, burnout, depression, post-traumatic stress disorder and eating disorders.
It is just one of dozens of luxury rehab centers popping up to offer treatments to help people cope with cryptocurrency addiction.
However, they say so Treatment can be different for everyone and it is important to seek professional help to determine the best way forward.
Based in Zurich with properties in London and Mallorca, the clinic has photos of a beachfront villa and spa, the website features positive testimonials from previous clients and offers treatments on a private island with a private butler, driver and chef.
The treatment, which one minimum cost of 75 thousand dollarsabout BRL 386,000, including therapy, massages, yoga, cycling and horse riding.
cryptocurrency addiction
According to a BBC report, which visited the clinic and spoke to clients and experts, cryptocurrency addiction treatment is similar to other addictions.
“It’s a biopsychosocial disease, so it requires a biopsychosocial intervention: in some cases, medication, individual and group psychotherapy, changing habits and environment, (or) doing healthier replacement activities”, he said Anna Lembke, a professor of psychiatry at Stanford University, told the British newspaper.
However, some experts claim that the treatment is similar to that of gaming addiction and should be treated as such, with critics argue that rehab centers charge high prices to desperate people.
“Whether you are ‘addicted’ to cryptocurrencies, bet on sports, or play the lottery, your symptoms and treatment will be much the same.”
Currently, there is no regulation for specialists who treat addiction to cryptocurrencies. Thus, people with this addiction may seek help from therapists or rehabilitation center executives who are certified in other areas, such as mental health and other types of addictions.
According to addiction experts, addiction to cryptocurrencies is even more dangerous than gambling. This is due to the instability of cryptocurrencies and the constant availability of transactions.making them more exciting and addictive.
According to the director of the Family Addiction Specialist in New York, Aaron Sternlicht, addiction to cryptocurrencies can lead to dangerous behavior. He claims that people who are addicted come to use cryptocurrencies as a source of “excitement and enjoyment in their lives”.
Sternlicht identifies various warning signs including lying, stealing, debt, difficulty relaxing or sleeping, constant monitoring of cryptocurrency prices and transactions that damage relationships, career opportunities and education.
According to him, it is important that people are aware of the risks of addiction to cryptocurrency trading and seek help if necessary.
Clinic The Balance claims that the feeling of euphoria combined with the huge profits and sense of victory is what makes cryptocurrency trading so addictive.
However, Market lows equate to withdrawal for alcoholics and drug addicts. Any downturn they experience makes them want to chase the “next high” in the hope that things will be more profitable, trapping them in a vicious cycle of dependency.
Cryptocurrency addiction can lead to stress, anxiety, depression and insomnia according to current research and findings. Also, some people may resort to excessive drinking of coffee, Adderall, cocaine, or other stimulants.
Cryptocurrency addicts are also more likely than the general public to accumulate debt and go completely bankrupt.
Cryptocurrency addiction therapy
According to clients interviewed by the BBC, cryptocurrency addiction treatment includes online therapy sessions costing $650 per hour, which includes blood tests, personalized diet plans, yoga, acupuncture, and medication if needed.
The approach is described as a “360-degree approach” to mental health, encompassing various aspects of patients’ physical and mental health.
Experts warn that cryptocurrency addiction is often misdiagnosed as a result of other conditions. In one case, a patient seeking help for sleeping pill addiction found that addiction to cryptocurrency was the root cause.
He slept badly and woke up at dawn to check the prices and the balance of his wallet. “I would sweat a lot before boarding long-haul flights because I wouldn’t have access to the internet”he told the BBC.
The man claimed things got worse in mid-2022 – which is when he decided to seek help, with the solution coming in the form of a four-week stay at The Balance unit on a Spanish island.
Cryptocurrency addiction is becoming more common and can be just as harmful as addiction to other substances. The first step to solving the problem, according to experts, is to realize that it exists.and the person can choose to reduce or stop trading cryptocurrencies altogether.
Professional help is the best course of action, but if this is not an option, the person can try to solve the problem themselves, following the advice and strategies available.
- Limit the amount of time and day(s) spent trading;
- Limit the amount of money spent on trading;
- Participate in other hobby activities;
- Find another source of income;
- Cognitive behavioral therapy;
- Rehabilitation program.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
