Blockchain Fund, reportedly one of the largest cryptocurrency funds in Russia, has recently launched an emergency psychological support service. The move aims to lend a hand to depressed bitcoin investors who find it difficult to steer through the current whiplash market.

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Moscow-based Blockchain Fund has hired a professional psychologist to counsel cryptocurrency traders and miners who are struggling to cope with the recent cryptocurrency market fluctuations.

According to an announcement made on the company’s website, a psychological support hotline dedicated to “people affected by the sharp drop in the rate of bitcoin” is currently available, and the decision to offer such services “was made in connection with a wave of suicides”.

Owner Andrey Karpukhov came up with the idea after thinking about the anguish experienced by investors who bought bitcoin at an ATH, back in December. According to Karpukhov, depressed bitcoin investors who need someone to talk to can now take counsel from qualified specialists who will help them “cope with the experiences and return to their normal lives”.

“People start to panic, no one understands what is happening. At first, everything was so good in the market, and now everything has changed,” psychologist Elena Pihovkina, who will be assisting investors via the company’s hotline, said. “First of all, I will get acquainted with people and listen to their stories. Then, I will give them professional advice on how to calm down and assess the situation in a more collected manner, so that they don’t do anything stupid.”

Pihovkina told Life.ru that she has extensive experience working with investors affected by the 2014 Russian ruble collapse widely believed to have been caused by a combination of sliding oil prices and stiffening economic sanctions imposed on Russia following the country’s annexation of Crimea and the Russian military intervention in Ukraine.

The Blockchain Fund psychological support hotline has become operational on February 7. Investors can call +7 (936) 777-45-45 or 8 936 777-KOIN, and schedule counseling sessions via email on the company’s website. Face-to-face consultations can be discussed separately.

Russian crypto-fund launches free psychological support hotline for depressed bitcoin investors – Featured image source: Aron Elal/Flickr