"They weren’t even able to scream anymore. They were just sobbing."
If you've lost an ungodly amount of money to the crypto crash and feel like screaming your brains out, we know just the place.
Introducing: The "Bear Market Screaming Therapy Group," a Telegram group where downtrodden everyday crypto investors go to yowl, shout, and sob their winter sorrows away.
The Guardian reports that there are over 3,000 individuals in the chat, created by a 30-year-old investor named Giulio, who declined to provide the newspaper with his last name.
"I had a few people lamenting and crying," Guilio told the publication. "I decided not to ban them. I felt bad. They weren't even able to scream anymore. They were just sobbing."
Upon entering the online space, the Guardian's Sirin Kale described hearing shrieking "eeeeeeeeee" and rumbling "waahahahah" noises, amongst other crypto-induced "howls" and "sharp shrieks of pain."
If we were in their shoes, we'd certainly feel the same. The spiral has been truly horrific. Exchanges and hedge funds worldwide are proving insolvent, while digital assets across the board are announcing record losses in value. And as the market continues to crumble, regular joes who cashed into the currencies — many of whom were new to the investing game — are being hit incredibly hard.
Kale spoke to a number of amateur investors who bought big into crypto, some of them explaining that the cult-like nature of the tech is what sucked them into the supposed digital gold mine.
"They call it 'being an alpha.' You have to be on Twitter, and follow the right people, and be in the right Discord channel," said 41-year-old engineer and personal finance YouTuber Alex-Koh, adding that he'd lost enough money to buy a four-room London home. "You listen to the right chatrooms. It makes you feel so special."
The cryptosphere has, perhaps, proven to be the Wild West after all — because it's brutal out there, and people have gotten hurt.