A solid plan is crucial for anyone investing in bitcoin. Its not just about holding onto your investment, but having a comprehensive plan that includes an emergency funds and reliable income source. But one can start bitcoin investment immediately without having a burgos plan but as you progress the importance of setting asside emergency funds become clear. Doubling up your hustle for income is a smart move too. It really helps to alleviate the stress during financial crisis. Without these, the stress of financial crisis can force people to sell off their holdings . Long-term investment require a solid plan to avoid dipping into your investment, especially as volatile as bitcoin . Plan ahead to ensure that your investment journey remain smooth and successful.
When investing in a volatile market like Bitcoin, it is important to have a solid plan not only for investment but also for long-term survival. And that strong investment system is called DCA. The longer you hold your investment, the higher the returns you will get. The fear of losing your capital will go away.
However, it is important to have an emergency fund to continue investing in the long term. Human threats are never mentioned. You can be in danger at any moment. At that time, your emergency fund will be with you. You will need an emergency fund to deal with such situations and keep your investment plan on track.
Especially during a financial crisis, increasing your source of income is a really wise decision. Many times, people sell their investments due to this stress, but this situation can be easily dealt with if you are prepared in advance. Therefore, even if you start investing without any plan, it is still very important to take the right steps at the right time.