You are absolutely correct emergency fund is very necessary before going into any investment in case there's a challenge but then again, sometimes it's not really necessary to keep emergency fund before doing any investment and if I may ask how much will one keep as an emergency fund? Cause sometimes even the emergency fund don't use to be enough to solve problem(s) since we all know this why waiting to keep... Before venturing into Bitcoin investment and I want to let you know that there are people who didn't keep emergency fund but they are really doing well in their investment so we shouldn't sound like this is a criteria one ought to meet before going into investment though it's good but lack of it shouldn't be a barrier because the truth is we can't actually keep everything ready.
Yes, you can be right when you have a strong and reliable source of income to make your investment a success. If your income is sufficient to meet an emergency, you may not need an emergency fund.
Suppose, in the middle of your investment you are unfortunately cut off from your source of income, how will you be able to cope if you do not have any funds at that moment? Do you have any choice but to sell the investment then? If you have a strong source of income, you may have built up an unexpected fund to tide you over temporarily, but will it serve you in the long run? Maybe you can consider taking out a loan, which you can plan to repay once you find another source of income. What if you don't find source of income in time? You may then consider depleting your investment, which could expose you to huge losses.
So, building an emergency fund for emergencies can be a wise thing for all types of people. It is not necessary that you have to build funds before starting to invest. You can build a fund as a plan to make investments successful. This fund may serve as your defense one day.