Quote from: DubemIfedigbo001 on October 15, 2024, 11:19:43 PM

Quote from: JayJuanGee on October 15, 2024, 07:47:26 AM

Many of us likely realize that one of the main things for any investor whether newbie, whether rich and/or whether poor is that there is a certain value to make sure that he figures out a way to stay in the game and not get forced into having to sell any of his bitcoin at a time that is not of his own choosing, and so a brand new bitcoin investor might not realize how to balance various aspects of his cashflow and make sure that he does not over do it or underdo it, yet those are skills that most people should be able to figure out with practice and a bit of focus in terms of trying to learn from their experiences and various resources that are available to them without getting distracted into nonsense, dumb ideas and/or shitcoins, gambling and/or trading without first establishing their BTC investment strategies and practices..

This is a rather very challenging phase of the investment journey for any investor and a sure test of your resilience and dedication to expanding your bitcoin portfolio only without yielding to the temptation of short sleeving it at intervals to attend to your pressing needs, In my experience at the beginning, I was building my emergency fund same time I was doing my weekly bitcoin accumulation, I had needs which was above my already gathered emergency funds and I had to prey on my investments like twice until I decided that I would have to build out my emergency fund for some time before returning to my accumulation process. I took 3 months break to build up emergency backup funds which after it, I could comfortably continue my accumulation journey using my discretionary funds, while continually increasing my Emergency fund to handle bigger emergencies and I have never had to prey on my holdings again. This temptation comes in handy to investors of every level and if you are not properly prepared with your emergency funds to handle unforeseen circumstances, you would immediately see yourself dipping hands into your bitcoin portfolio to solve your needs and make a mess of your DCA accumulation process.

In my pattern, I have a sperate extra job I took to service my DCA and an entirely separate account that the money enters, so I am sure that whichever money that is in that account is set aside for bitcoin investment only and my other sources of income is used to live my normal life, handle my expenses and building my emergency funding. I treat both as separate concerns and it has worked well for me.

You can learn from mistakes, and your practicing helps you to learn what kinds of situations might come up for you and how much of a cash cushion you need or even how much income you need in order to be able to continually buy bitcoin.

I have mentioned several times that it could take a year or longer just to build up 3 months worth of an emergency fund, and surely you can build up your back up funds and even you bitcoin investment when you are able to seek out extra ways to either generate cash income or to cut some expenses... and it still take a long time to put various comfortable systems in place and also to see how your system plays out during some cashflow crisis that you might have and/or if there might be a lot of volatility in BTC's price, those kinds of circumstances can also test your resolve and test the various cashflow management and back up systems that you have established.