Psychological and behavioral experiences of individuals investing in cryptocurrency in an uncertain environment: a phenomenological approach
FRONTIERS IN PSYCHOLOGY, cilt.17, 2026 (SSCI, Scopus)
- Yayın Türü: Makale / Tam Makale
- Cilt numarası: 17
- Basım Tarihi: 2026
- Doi Numarası: 10.3389/fpsyg.2026.1775360
- Dergi Adı: FRONTIERS IN PSYCHOLOGY
- Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus, IBZ Online, Linguistic Bibliography, MLA - Modern Language Association Database, Psycinfo, Directory of Open Access Journals, MLA International Bibliography
- Açık Arşiv Koleksiyonu: AVESİS Açık Erişim Koleksiyonu
- Recep Tayyip Erdoğan Üniversitesi Adresli: Hayır
Özet
Introduction This study explores, from a phenomenological perspective, how cryptocurrency investors experience emotional, cognitive, and social processes in an uncertain environment and how these experiences influence decision-making, risk management, and identity perception.Methods This qualitative phenomenological study involved semi-structured, in-depth interviews with 19 participants selected through criterion sampling. With the participants' consent, all interviews were audio-recorded, transcribed verbatim, and analyzed thematically using Colaizzi's approach. The study was reported in accordance with the COREQ framework.Results The analysis revealed five main themes: (1) emotional and cognitive processes changing over time, including a transition from intuitive responses to analytical strategies and learning from losses; (2) the influence of social interactions on investment motivation, including guidance from family, friends, and social media and the reassessment of trust dynamics; (3) internal emotional responses to uncertainty, such as panic selling and poor timing, alongside increasing self-regulation and rule-based decision-making; (4) the role of social support in strengthening motivation and coping with stress, as well as feelings of loneliness and burden in its absence; and (5) identity dilemmas and self-awareness, reflected in tensions involving the need for control and burnout, the strengthening of investor identity, and the reorganisation of life priorities.Discussion Cryptocurrency investment is not merely a financial activity but a multilayered experience involving emotion regulation, the filtering of social influences, and identity construction. The findings support the development of training programmes integrating behavioral finance, emotion management, and stress-coping strategies. Social media literacy, rule-based trading tools, peer-support channels, and wellbeing-oriented guidance may also help investors manage uncertainty and its psychological consequences.