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Deepak Chopra Recommends Long Term Crypto Outlook During Bear Market - India Blogger

Known for his affinity with emotions, wellness guru Deepak Chopra recommends long-term collaboration as the crypto industry goes through a bear market.

The collapse of stablecoin TeraUSD proved to be an emotionally difficult one for many investors. Some had invested their lifetime savings, while others’ dreams of buying a house went down in smoke. The broader cryptocurrency market plunged, with bitcoin down 50% from its November 2021 highs, triggering a significant selloff as investors left riskier assets out of their portfolios.

Amid the emotional turmoil, wellness guru Deepak Chopra, who is known for his connection to emotions, said he sees a camaraderie developing in the crypto community. “I think the emergence is when you have the maximum variety of people hanging out creatively, complimenting each other’s strengths and having some kind of spiritual and emotional ecosystem where they support each other. can help, and it’s happening in the crypto community right now,” he said. CNBC at Gary Vaynerchuk’s “Vecon” in Minneapolis.

The community sentiment was expressed recently on the TERRALUNA subreddit. One moderator posted, “Everyone is panicking, here are some national helpline numbers.” Another user, whose friend invested life savings in Luna, posted, “If you feel pain and you think your life is pathetic without money, you feel like failure and stuff… Just come to the people you love.”

Take a Long-Term Approach, says Chopra

Chopra advocates a long-term approach to the crypto market. His non-profit, the Chopra Foundation, launched a non-fungible token (NFT) collection in March, which enables token holders to crowdfund me NTL and emotional health initiatives on a platform called EarthFund. “We are using artificial intelligence to talk to people who are feeling mentally handicapped, and if they need counseling, we have a token with Earthfund so that we can promote wellness all over the world. We want to create global communities of attention, affection, appreciation and acceptance, where people are there to support each other and have each other’s backs,” said Chopra. There are digital certificates that reside on the blockchain.

Transient human emotion affects the markets

Chopra advises to exercise restraint while dealing with NFTs to avoid being blown away by the hype.

He is of the opinion that market behavior is closely related to the transience of human emotion. “One day it is up, one day it is down, one is news and we are in a bull market, the next day it is bad news, and we are in a bear market,” he said.

Mental health experts are increasingly concerned about the excitement driven by the sharp volatility in prices unmatched by traditional stocks and bonds. Aaron Sternlich, a physician in New York, has seen an influx of patients seeking help for crypto addiction. However, he acknowledges that many cannot get the help they need. “There won’t be a lot of people who need treatment,” he told the Washington Post in April.

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Deepak Chopra Advice on Long Term Crypto Outlook during Bear Market, first appeared on BeInCrypto.

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