The World of Cryptocurrency - The Sad Reality

A few days ago, there was a massive bloodbath in the crypto market, bitcoin dips down to 6k dollars and most of us in a losing situation. Even the iconic individuals in the business industry admitted that they lose millions of dollars recently. This is how volatile bitcoin is and its so unpredictable, there is a movement in price every minute and we should be aware of this for us not to be caught off-guard.

Just recently, I heard a very sad news that there are some of our fellow cryptonians can't handle depression anymore due to the huge losses of their crypto investment. They were desperate enough to end their misery - they commit suicide. It is a very tragic ending for them and it is not worth it. We should not let depression control our being, instead, we should control our emotion and fight depression. One of the blogs of my very dear "Inkong" helps me to fight depression and frustrations in life, I am now more obliged to share this with you guys. This will surely open the mind and heart of those depressed people, this will somehow give hope for them to continue their life's journey. Please spare your precious time in reading my "Inkong's" blog - How to get over depression and Stop! Suicide Is Never a Solution, Period.

A few days ago, a 20-year-old, college student committed suicide after losing a huge amount of money approximately 250 thousand dollars in cryptocurrency trading due to the recent collapse of the crypto market.

A man in his early twenties was found dead at his home in Busan in what appears to be a suicide, police said Thursday.

According to the Busan Jin Police Station, the man was suffering from depression after losing a large amount of money trading cryptocurrencies.

The mother of the deceased told officers that her son had been taking sleeping pills after losing a huge sum of money trading cryptocurrencies following the collapse of prices on exchanges in recent months.

The 20-year-old had been performing social services, an alternative to military service, in his hometown of Busan since October after taking a leave of absence from his college in Seoul.

The death of the young man is the latest "side effect" from the cryptocurrency craze among 20-somethings.

Despite the government's continued warnings and regulatory moves, cryptocurrencies have rapidly gained popularity among young investors hoping to make quick money.

Many believe jobs that come with decent pay are scarce and buying a home through savings is nearly impossible in South Korea. Last December, youth unemployment marked an all-time high of 9.9 percent.

The police plan to investigate the exact cause of death but have not confirmed when they will release an official report.

"We will examine the case further and search for any other possible cause of death," said a police officer.

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