Quote from: Popkon6 on Today at 03:30:54 PM

Quote from: Lidger on Today at 11:07:22 AM

Quote from: Uhwuchukwu53 on June 11, 2024, 05:58:38 PM

I may not totally agree with the part of everyone who start investment having the mindset of long term holding , but for the sake of this thread many has know that long term holding and using the DCA is the actual formula to achieve the real value of their investment in Bitcoin, because some newbie or new investor has the feeling that as the invested on BTC they will get the profit as fast as possible, even some still see investment for Long term holding as trading where they will quickly take their profit but true this regular discussion and answering many people question has solved allot of misconception of Long term investment.

The area of investor building an emergency fund this part is a primary thing that is inevitable for any who really want to hold for long term not to put into proper planning as one can't hold for long term with such saving of fund or planned the such to such without tempering the investment.

Whether you believe it or not, emergency funds guarantee consistent investment. Since you are earning a certain amount of money every month, the expenses will not be the same every month. We have some religious ceremonies and sometimes we have to spend money on some important occasions but they are beyond our account and when we have to spend those money but later we don't have any money left to invest. If you don't have an emergency fund, how will you maintain your investment during that time? Investing may be easy but maintaining that investment consistently and sustaining the investment for a long period of time is very challenging and not everyone can take up this challenge.

Usually the DCA method will be based on your income, because if you invest regularly. Then you can invest weekly or monthly. Estimated average monthly expenses in your household are $100, and $170 if you are salaried. Then you can invest part of your expenses here and meet the basic needs, with the rest of the money you can invest.
In this case, it is most important that you use an emergency fund, because people can get sick at any time. That is why you must use emergency fund so that your investment does not get lost.

Emergency funds cannot be used in all situations, as the name applies it is used during severe and emergency situations, our emergency funds is not taking the duty of reserve funds. Emergency funds only help the investor avoid real life uncertainties like; Job loss, Death of family member,etc and enable continual accumulation.
Emergency, Discretionary funds are needed by investor as he invests in Bitcoin, DCAing or lump sum is choice of which the investor chooses from the one he can keep up with and be consistent.