If you thought hearing about overrun ICU units during Covid was alarming, wait until you begin to hear the media screaming about overflowing psych wards due to Bitcoiner's unhinged behavior in the bull market. As Bitcoin crossed back above $40k USD, Psychiatrists around the country began shaking their heads. "It's like when the price goes up, all these goofballs watching charts on Trading View seem to enter into a state of Psychosis and go ballistic. It's similar to someone on a 7 day meth binge, except Bitcoin can go up for a lot longer," Said Dr. Greg Phillips who has extensive experience treating Bitcoiners at a psych ward in Miami.
What makes Bitcoiners behavior more concerning is that as they celebrate, the entire world economy is collapsing, leaving the general population wondering what the best way to have fun staying poor is. Individuals who were barely making it one minute, turn into millionaires overnight and begin driving around everywhere with Lamborghinis. Experts are concerned that what they are calling "Bitcoin psychosis" has the chance to spread across the population. Individuals living in poverty due to fiat money might choose to switch currencies and end up rich as a result, then proceed to lose there mind.
A harsh reality is that not everyone is prepared for the burden of being rich. Not only that, not everyone is prepared to become rich while all their family and friends get poor. There has been a sharp rise in Bitcoiners engaging in martial arts and fire arms training, as they prepare to defend their stacks. Experts are concerned that martial arts training paired with psychosis presents a major challenge for law enforcement and psych ward security staff.
During the bull market, it is important to moderate social media usage and podcast listening in order to preserve your mental health. If you start to hear Saylor's voice saying, "It goes up forever Laura," or, "There is no second best," it is likely time to check in with a profession before you have a complete breakdown. Hearing voices that aren't there is not generally a good sign. The euphoria that is coming is a real challenge to navigate.