Cryptocurrency Addiction Now Treated at Top UK Rehab Clinic
Castle Craig rehab clinic, UK, 28th May 2018
Castle Craig, one of Europe’s leading addiction rehab clinics, has received requests to treat cryptocurrency addiction and is highlighting this area of concern. People addicted to online Bitcoin trading are able to join the intensive gambling programme at the 30 year-established alcohol, drug and gambling rehab clinic.
Treatment at Castle Craig residential rehab clinic involves intensive evidence-based therapies ranging from the 12 Steps, Cognitive Behavioural Therapy (CBT), trauma therapy and equine therapy among others.
What is Cryptocurrency Addiction?
Addiction to the trading of cryptocurrencies like Bitcoin is a behavioural addiction, like gambling addiction and compulsive online ‘day trading’ on the stockmarket.
Cryptocurrency users can get hooked by the volatile fluctuation of prices online which creates a ‘high’ when they buy or trade a winning currency. This can be exciting but also addictive and, like gambling addiction, can be financially disastrous.
Dr Mark Griffiths, Professor of Behavioural Addiction at Nottingham Trent University, told Castle Craig: “Addiction to cryptocurrencies is a sub-type of online day-trading addiction. I see these as akin to gambling addiction.”
Chris Burn, a gambling therapist at Castle Craig Hospital says, “the high risk, fluctuating cryptocurrency market appeals to the problem gambler. It provides excitement and an escape from reality. Bitcoin, for example, has been heavily traded and huge gains & losses were made. It’s a classic bubble situation.”
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Notes to Editors
Clarification: On 28 May 2018 some news channels reported that Castle Craig is opening a new centre for cryptocurrency addiction and offering a new “course” of treatment. This is not the case. However we are treating compulsive online betting (including cryptocurrency trading) as part of our already established gambling rehab treatment programme.
For more information on addiction to cryptocurrency trading please look at our:
- New web page about cryptocurrency addiction
- Factsheet about Addiction to Cryptocurrencies such as Bitcoin
- Short video with two therapists talking about crypto addiction
For more information please contact Rupert Wolfe Murray on +44 747 138 1973 or [email protected]