I agree that a person should not be dipping into his emergency funds for BTC buys, but there could be situations in which it makes sense if there is variability in income and expenses, and there is also a decent sized emergency fund. There also may be decisions to buy a certain quantity of BTC no matter what, so if the cashflow over several months is fluctuating, the income might not meet expenses, and yet there still might be expectations that the following months or the month after, the emergency fund will be able to be diminished with the short-fall, and part of the reason to have an extra large sized emergency fund is to be able to buy BTC every month/week. . or whatever might be the priority that is pre-established.
Actually, it is not a good idea to do so, but if Incase any one is in such position whereby his or her emergency funds if very very big like $10k or $15k , he might as well use $1k from it just ones, then not try that again.
I was not trying to say that a person has to have an emergency fund prior to buying BTC. I am frequently saying to start investing in BTC as soon as possible and also I am saying that sometimes more than one thing can be accomplished at the same time, and yeah, there may be risks involved if the emergency fund is not very strong, but there may also be preferences to make sure to invest into BTC on a weekly basis and to build the bitcoin investment, even if there might be an inadequate emergency fund and other ways that the person's finances are fucked up.. such as not having his debt under control...and so maybe he is paying off debt too... .. and sometimes the earliest days of getting your finances and psychology in order can take a bit of time, maybe even 6 months to 18 months, or even longer, but maybe at the same time there is at least a minimum amount of BTC that is bought.. and maybe there was a past practice of not having any emergency fund, so there was a past practice of always panicking and just the creation of an emergency fund is going to bring progress and the more and more that the emergency fund is built, the more aggressive the person likely is going to be able to become in terms of his BTC investing.
Okay,,, now I get the point, like we all know that Bitcoin is heading to the top and looking at the price today, Bitcoin is about $46700k and yesterday it was $47k, this shows that Bitcoin is rising and people should start investing instead of waiting.
Like now, if one is accumulating a $50 Bitcoin weekly it will not be a bad idea but it might be a bad idea if the person just stop accumulating because he or she might not have money to keep accumulating. Sometimes, a lot of people encounter such situations because they don't have a constant cash flow, and for someone who don't have a steady cash flow to safe for emergency cases he or she will also find it very difficult to hold and accumulate Bitcoin.
At the same time, we should not let the perfect be the enemy of the good, and we might end up having way too much cash.
Perfectly said,
On the other side, yeah it can be uncomfortable if the BTC price does not dip and you have money waiting to buy on dips that does not get used, and you have to figure out yourself how you want to treat that money or to readjust your considerations of the setting of your buying price points from time to time in order to attempt to best prepare for what you believe that the BTC price might do in that portion of the money that you have available for that purpose, and at the same time it would not necessarily mean that you stop DCA buying within the terms that you have set for that category of funds..
That's one thing I don't ever want to experience that's why I have to keep one building up the investment instead of waiting for the dip that might no even get dipped.
Ones one have the one to buy there is no need to wait for dip, although everyone have their own ways of investing, just like the way I am using the DCAing method, others might not 2ant to use it like I do.
I have made some similar mistakes in the past, and frequently i have to make some tweaks in order to account for the mistake, and hope that the mistake is not too large... and so sometimes I have mistakenly bought when I meant to sell, and other times I have mistakenly sold when I meant to buy...and sometimes I don't realize that I made the mistake until several hours or even several days later. I will usually have to figure out some kind of a solution that I consider to be acceptable to wait out a price move that might correct the mistake in one direction or another or I might force some kind of a resolution... and if there are likely fees to take into account, then that would also be something that is calculated into what can be done or should be done.
Interesting.
However, everyone has made a mistake already and most time mistakes are meant to be made because it will help us to learn more about what we made the mistakes for, so that next time will be more careful.
If mistakes are to mode then a lot of people would have not learned what they have learnt today.