To investigate current investor habits and the potential impact of 24/7 cryptocurrency trading on mental wellbeing, The Sleep Judge opinion poll over 1,000 Americans and discover which crypto is causing the greatest fear.
According to popular sleep products reviewer, the results show that the frequency with which Americans review their crypto investments and trades affects their sleep and relationships.
Loss of sleep due to cryptocurrency
According to the survey, “Generation X is the generation that has invested the most in crypto, with 70% of respondents born between 1965 and 1980 being investors. Baby boomers and millennials are not far behind with 68% and 67% respectively. Less than half of the surveyed zer generation are currently investing in crypto … “
On the other hand, the greatest differences between the generations can be seen when looking at the reasons for investment. 57% of baby boomers are investing in retirement, while 49% of millennials want to make money quickly.
The results also show that while most review their investments weekly, 50% of Generation Z review the market on a daily basis.
Tracking habits for cryptocurrencies | Source: The Sleeping Judge
Almost 70% of non-investors said their sleep quality was excellent compared to around 63% of those who invest in cryptocurrencies. As the survey shows, there is a clear correlation between the money invested and the quality of sleep.
“Those who invested less than $ 1,000 said they slept fewer hours per night than those who invested more than $ 1,000. Perhaps those with less investments often stay up all night wondering how to increase their holdings, or worry about the risk of a market collapse that could damage their coins. “
XRP, XLM, and DOT investors have the highest level of fear
The Sleep Judge completes the study by examining the effects of trading on investor relationships and psychological wellbeing.
74% of baby boomers are concerned about their crypto investments, followed by Millennials (66%), Xers (61%) and Zers (56%).
According to the survey, crypto investors are more stressed than traditional investors when it comes to investment risks.
71% of crypto investors compared to 63.9% of traditional investors said they would be stressed out if all investments were lost.
“When you break this down by type, BTC holders are the least nervous and the least depressed when compared to holders of other types. XRP, XLM, and DOT traders reported experiencing the most levels of anxiety and depression. Cryptocurrency investors are less satisfied with the spouse and parent-child relationship than those who do not invest in it.
How cryptocurrencies affect relationships and mental wellbeing | Source: The Sleeping Judge
“Due to its 24/7 nature, cryptocurrency trading can become an addiction for some people, such as gambling. Recent research has shown that extreme market ups and downs can lead to mental health problems such as stress, anxiety and depression, ”the report concludes.
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According to Cryptoslate