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The countries, cities & states where crypto causes the most stress – and which cryptocurrencies worry owners most.
Investing your hard-earned income in a fluctuating market can be a stressful experience at the best of times. Still, the unpredictability and volatility of cryptocurrency are, for many people, on another level.
In contrast to the stock market, which is subject to strict financial regulation, crypto is more decentralized, meaning that anyone can create a currency provided people are willing to invest in it. While Bitcoin has been around since 2009, interest and investment in cryptocurrency have steadily become more mainstream since the mid-2010s, with more competition in the coin market and more merchants accepting crypto as payment.
Global interest and increased competition for currencies have led to increased volatility in the market. Bitcoin, for example, lost more than half of its value between November 2021 and May 2022, and the value of Ethereum – the second largest currency, dropped below $900 in June 2022 after record highs late in 2021.
With real-world events and benevolent billionaires causing currency values to fluctuate, it’s no wonder that investors around the world find their cryptocurrency stock stressful to hold. The market is rapidly changing, and it is unwise to invest in currencies without understanding how they work.
To find out where in the world cryptocurrency investment stresses people out the most, Coin Kickoff analyzed geotagged tweets for the hashtags of the 50 most popular cryptocurrencies by market cap.
The team then analyzed posts using TensiStrength, a sentiment-tracking algorithm that places a value on stress levels within tweets so that we can see the proportion of stressed tweets for the world’s major cities, countries, and cryptocurrency assets. Here’s a sneak preview:
Digging deeper, the Coin Kickoff team also found which U.S. cities and states are bearing the crypto market burden and which cryptocurrencies cause the most stress. See the full study: https://coinkickoff.com/most-stressed-crypto/
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.