A Scots clinic will be offering residential treatment to cryptocurrency aficionados who have got hooked on digital currencies trading, The Times reports.
Castle Craig Hospital in Peeblesshire, Scotland has launched a residential treatment course to help “crypto addicts” recover from their addiction and get back to a life without obsessive cryptocurrency trading.
Many experts have likened cryptocurrency trading to online gambling, and Castle Craig Hospital will be treating its cryptocurrency addicts in a manner similar to how it would approach a problem gambler, it is understood.
Therapists at the Scots clinic have pointed out that they believe the activity could easily turn into a behavioral addiction with users checking cryptocurrencies’ price obsessively and in every single moment possible.
Former cocaine and gambling addict Tony Marini will lead some of the treatments as part of the cryptocurrency addiction treatment course. Mr. Marini has told media that having experienced it himself, he has “insight and empathy” towards people who are struggling with the same or similar issues. He went on to comment that cryptocurrency addicts become addicts as they usually see the activity as a form of escapism from a world they do not really like.
Castle Craig Hospital already specializes in the treatment of people addicted to various drugs and alcohol. It has also been running gambling addiction programs. As mentioned above, the clinic has actually revealed that it would use namely its experience in treating gambling addicts to help bitcoin and other cryptocurrency junkies.
Cryptocurrency Craze
While the number of people addicted to cryptocurrency trading is unknown, it is believed that there are more than 13 million people trading around the world.
According to Chris Burn, who has formerly treated problem gamblers and gambling addicts at Castle Craig Hospital, the cryptocurrency market, with its high-risk fluctuating nature, has been found particularly appealing to people prone to problem gambling behavior. He, too, said he believes trading offers an escape from reality. Mr. Burn went on to note that to him, bitcoin and its likes were “a classic bubble situation” with the huge gains and huge losses made by aficionados over a very short period of time.
Bitcoin’s price jumped nearly 1,500% last year and reached an all-time high of over $19,800 in mid-December, and then plummeted overnight to set off a massive scare among many, while encouraging others to take advantage of the lower prices and dive deeper into the trading of bitcoin and other cryptocurrencies.
The debate over the addictiveness of cryptocurrency trading has been growing and will certainly continue growing as the rising number of success stories of people buying at what could seem an insignificant price and netting humongous amounts of money at a later stage are only going to keep fueling the crypto hype.
The post Scots Clinic to Treat Cryptocurrency Addicts appeared first on Casino News Daily.
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