This comment does not make a lot of sense, either. You should not be saving up an emergency fund and then plunking it all down into bitcoin, that defeats the purpose of the emergency fund... and whether OP has a steady income or not (which he described as $300 per month which sounds pretty steady to me as a way of describing it), he still would need to save up 3-6 months worth of expenses for his emergency fund, and if we consider his expenses to be around $150, based on his description, he could save up 3-6 months, of that which would be $450 to $900, and he could invest in bitcoin at the same time, and his having said that he was putting $100 per month into his emergency fund suggests that he would be able to save up his emergency fund in 4-9 months, and simultaneously buy $50 per month worth of bitcoin.
Once an emergency fund is established then it mostly could be maintained and drawn from here and there, but if it is drawn from then it is replenished soon thereafter, and if it maintained, then any extra income that had been used to build it would then be available for investment, so OP could start to use $150 per month for investment into bitcoin rather than just $50 per month once he reaches his emergency fund target.
If one is using emergency funds to invest in Bitcoin, that means the person is not really saving the money for emergency cases but investing it in Bitcoin. Meanwhile, if an investor is not saving for emergencies, that means the person can not hold his coins for a long time (they might even sell them off in just a month or a couple of weeks).Once an emergency fund is established then it mostly could be maintained and drawn from here and there, but if it is drawn from then it is replenished soon thereafter, and if it maintained, then any extra income that had been used to build it would then be available for investment, so OP could start to use $150 per month for investment into bitcoin rather than just $50 per month once he reaches his emergency fund target.
You are absolutely right, you know what I understand in the second phrase that you are trying to say. An investor must have 3 or 6 months of emergency funds even before he or she starts investing in Bitcoin (I see) because it will absolutely make the investor not think of touching his investment.
Let's imagine that before one starts investing in Bitcoin, he has been saving $200 per month in 6 months. That's about $1200 and the investor is still working and getting paid steadily (he has a steady cash flow), then on the 7th month he starts investing $100 weekly in Bitcoin (and still saving emergency funds too)... With all those savings he or she has, he or she will not think of tempering his or her investment for a long time.
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and yeah there are some people who don't want to buy BTC right from the start, so they save up in order to buy on the dip.. which may or may not work out for them, and is not a very good way of preparing for UP, if they have not already bought BTC in advance of their waiting for the dip, which means they might have ONLY prepared for one BTC price direction if they do not already own BTC.
What's the essence of waiting for the dip when the dip will not come so easy? However, such person might not even be aware of the dip rather.As the OP didn't wait for the dip, I like it that way because maybe before the dip might come back he must have spent the money already if only he's one of those that can't deal with cash
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