But sometimes when we have that kind of fund and see Bitcoin going down, we can't resist the urge to add some to our wallet. It's a human condition and is often experienced by investors.
That is why bitcoin investment is not for the weak or those who can't hold for long and overcome market fluctuations because at some point, the price is meant to fluctuate either ways but if you have a long term target you won't be moved to sell even when the price is falling.
Well, at this point with the spike to which bitcoin price is rising to anyone who couldn't hold due to emergency circumstances would be snoozing now looking at the profit they would have been making as the price of bitcoin continuous to rise.
This is why we have always emphasize on having an emergency funds in order not to miss opportunities like this in the bull run season due to forceful sell of funds as a result of unforeseen and unexpected emergency problems that the investor weren't prepared for. As a bitcoin investor, having an emergency funds is relatively important as buying and hodling of your BTC under a long term plan.
Emergency circumstances can be planned for and avoided from distorting holding of bitcoin from the very beginning. I don't know how long it will take people to realize that investing in bitcoin without making adequate plans for other needs is just setting the investment up for sudden selling when emergency hits. Imagine the pain the investor will feel knowing that he just sold his bitcoin before a time like this when bitcoin is rising rapidly and breaking new grounds almost every day. When investing, emergency funds must be kept in place after the investors would have made provisions for the basic needs that cannot wait. The emergency so set up will be like a protection over the investment to prevent it from being sold when it is not planned.
I realized the importance of the emergency funds at later part of my investing and when I started implementing it, a lot of things changed for good with my investing. I was going three steps forward, one step backward with my investing when I never had emergency funds because somethings I will sell some bitcoin for minor things. I wouldn't call this progress because I was not meeting up my monthly target like I should. Well, all that is history now because any funds I put into bitcoin will stay there because I have not started selling as I am still at the accumulation stage.