Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy Buy Buy or Sell Sell Sell?
by
Yukyzu
on 10/11/2024, 18:29:18 UTC
⭐ Merited by fillippone (1)
That you sold your bitcoin because of an emergency doesn't make it the right thing to do. You sold your bitcoin for emergency because you neglected some of the things you needed to put in place after you started your bitcoin investment. Had you had an emergency funds in place there wouldn't have been any needs for you to sell of your bitcoin. You can say here that you don't have any regrets for doing that here, but deep down you actually regretted doing it. The right approach for a successful bitcoin holding for a long term, is to start building up your emergency funds and reserved funds along side your bitcoin accumulation. If you have your emergency funds in place, you can always take money from there and fix your emergencies without having to sell your bitcoin way too early or in a premature stage.
I agree with you, many investors initially focus only on investing. But they forget to keep the necessary funds ready to hold that investment for a long time. And as a result when they face any danger, due to lack of emergency funds, they are Compulsorily to sell their investments. And selling holdings at that time may also cause them losses. Hence, an emergency fund should be created safely along with investments, which will help ensure our financial security as well as long-term holdings.

If an investor only focuses on collecting their assets without making any preparation for their emergency needs, then they have taken the wrong step in running an investment, of course it is difficult to achieve the desired investment target, it is the most important thing when we choose to maintain assets in the long term to really use funds that we can hold in the long term and also prepare funds for emergency needs because we cannot know when we need the funds and if we have prepared, of course we will not have difficulty when we need them and will also be able to maintain the assets we have until we reach the investment target we want.