Bear Market
Depression, Anxiety & the Bear Market
If the 2022 Crypto & NFT bear market has you panicky, losing sleep, or feeling down, you’re not alone. Let’s talk about it.
One of the most interesting observations I’ve made in being a therapist is that the hardest thing for most people to talk about, even harder than sex, porn use, and masturbation, is money. How much one makes per year. Inheritance. Debt. Dreams and financial goals. It’s all apparently off the table unless it’s directly asked about it. Even then, people squirm and look to me for permission. Is it really okay to talk about this?
YES!
And we need to talk about this right now because shit is hitting the fan. And it’s important that you know you’re not alone or weird for having this crypto downturn be so hard, even if it looks like everyone else is handling it way better than you.
Common mental health symptoms during times of financial strife
Irritability. Especially when anything money-related comes to your attention.
Avoidance of anything money-related. For example, not looking at bills or bank statements because it’s too painful.
Sleep disturbance. This can look like sleeping all day, having a hard time falling asleep, and waking up multiple times per night.
Racing thoughts or intrusive negative thoughts. Especially about money, work, income, expenses, and past traumatic financial experiences.
Negative self-talk. Thoughts running through your head, such as ‘I’m so stupid.” “I should have known better.” “Of course, this happened. Nothing ever works out for me.”
Obsessive thought patterns. Repetitive thoughts around money. Trying to control your financial situation by planning repeatedly for income and expenses. Obsessively checking values and bank statements. Doom scrolling for the latest articles on the financial market and tweets from analysts.
Isolation. Not engaging with friends or family IRL.
Feelings or thoughts of worthlessness or that you’d be better off dead. This is a big one and if you’re experiencing this, please seek professional help.
Helpful Reminders
As Brene Brown, PhD writes, ‘Shame thrives on secrecy.’ So while money and any of the above experiences feel hard to talk about, it’s important that you do. Any helpful human will remind you that…
You’re not alone.
You’re more important than the value of your wallet or any number in your bank account.
And all things and feelings are temporary. Even bear markets.
