I understand your point, but to some extent I would say it's better to increase our source of income than focus more on emergency funds. when you have multiple streams of income it helps you stand better in your bitcoin investment.

Perhaps with your good income you can split out your investment percentage and you would still be very much okay.
Emergency funds is a very important thing that an investor should always ut in place because it's more like the ground to survive every situation, people who don't consider it always fall victim of bankruptcy.
if eventually one has put in some stash into bitcoin it's left for them to be patient with their investments especially in bitcoin because bitcoin is not a Ponzi scheme or get rich quick investment.