Cryptosis
What Does Cryptosis Mean in Crypto?
Have you come across someone who never keeps quiet about cryptocurrencies, NFTs, blockchain technology, and digital asset markets? Is their crypto-enthusiasm to the point of being obsessive or unhealthy? There’s a term for defining such a state – cryptosis.
Cryptosis is crypto slang for the intense appetite for knowledge about cryptocurrencies and the broader digital assets market. Put another way, it is the state of being overwhelmed with information regarding blockchain tech and crypto.
Think of it as a crypto-OCD – or obsessive crypto disorder – where the victim can’t stop checking the latest crypto news, tracking market trends, or even frequently engaging in online discussions. It is also characterized by constantly talking, learning, and listening to information about new crypto projects, coins, tokens, and exchanges.
Victims of this unhealthy obsession are generally well-informed about the technical intricacies of cryptocurrencies and blockchain technology. They may also suffer from fear of missing out (FOMO), leading them to become highly active traders or even participate in day trading.
What Causes It?
It is usually driven by excessive enthusiasm for cryptocurrency assets and the need to feel connected to the crypto space. It is also caused by the pressure to keep up with all the changes in the ever-evolving crypto space.
How To Mitigate Cryptosis
Some of the ways to manage this obsession include:
- Setting long-term investment goals – Having long-term trading objectives enables you to stay grounded, preventing you from being swayed by short-term market trends and price changes.
- Evaluating potential financial risk tolerance – Never investing more than you can afford to lose in an investment helps alleviate potential FOMO or anxiety caused by market fluctuations.
- Managing your emotions – Keeping your emotions in check before trading can prevent emotional trading, allowing you to make well-informed trading decisions.
- Taking breaks – Regularly taking breaks from the buzz of the crypto world gives you a fresh perspective and helps avoid burnout.
