Featured Image Credit: Wit Olszewski / Alamy. Tero Vesalainen / Alamy.
Topics: Cryptocurrency, Social Media, Bitcoin
Jayden Collins
Topics: Cryptocurrency, Social Media, Bitcoin
The crypto crash has hit a lot of investors quite hard.
If you were one of those who have suffered this year then you probably need a safe place to vent, cry, or just scream your sorrows away.
The ‘Bear Market Screaming Therapy Group’ on Telegram is just for you. It's a group of everyday crypto investors who have found their screaming sanctuary.
According to The Guardian, there are more than 3,000 people in the group and they have all come together to bond over their shared misery and their failed investments.
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The group members leave voice messages to each other that include, screams, and various sounds depicting despair.
The founder of the group, named Giulio, told The Guardian: “I had a few people lamenting and crying.
“I decided not to band them. I felt bad. They weren’t even able to scream anymore. They were just sobbing.”
It sounds like the various stages of crypto grief, sighs, screaming, crying, shame, and uncontrollably sobbing.
You do have to feel sorry for the many that bought into the bull market of 2021. It all seemed like a dream as many watched their investments go up and up.
But that dream turned into a nightmare, as it all came crashing down quite quickly in 2022.
The price of Bitcoin in May this year fell below $30,000 (AU$43,000) for the first time since July 2021, signalling a 55 per cent drop in price since the leading crypto coin’s all-time high of around $69,000 (AU$99,000) in November.
The Bitcoin price drop led to an entire market crash, that saw many investors left with peanuts.
You really have to feel most sorry for those that invested in digital currency Terra (LUNA), which dropped by more than 99 per cent at the time.
The cryptocurrency peaked at $119 (AU$154) in April before seeing a steady decline in the backend of the month, however, the coin took the hardest hit in the crypto crash.
The price of the coin now sits well below even a cent and has been removed from most cryptocurrency platforms.
If you don’t laugh about it, you’ll cry, or probably end up on the Telegram group.
Crypto investors over on subreddit r/TerraLuna were revealing some pretty harrowing stories at the time.
One member wrote: “I’ve lost all my life savings. Had bought Luna at $85, not sure what to do.”
Another user wrote: “This seems unreal I can’t believe this is happening, I basically lost 60k overnight with what could have been considered a risk-off asset 3 days and I can’t do anything about it.
“Can’t sell, can’t buy, I can just watch it burn. This is insane. What the actual f**k.”
At least now they can all find a place to let out their despair on Telegram.