It is important before investing to prepare an emergency fund first, so that when there is an urgent need not to sell bitcoin in the middle of the road, anyone who provides emergency funds will be safe from any needs.
Are you telling me the prospective Bitcoin investor should continue to wait???
Waiting is not denial EarnONVictor. The journey to investing in Bitcoin isn't smooth sailing. There are things that must be put in place so that you can accumulate your Bitcoin without messing up your investment along the way. No one said you have to wait and end up not investing at all. We are actually saying that there is a smarter and better way of doing it. Investing isn't about rushing in. You need to have a solid plan so you dont end up in stacked up financial challenges while waiting for your Bitcoin to grow, even you might end up tampering your accumulated Bitcoin in the name of settling problems because all the beginning plans was neglected.
This is why some people did not invest in Bitcoin till today, it's one excuse or another and it is hurting them more than you can imagine with the progress Bitcoin has made so far. We should shun excuses and a perfect financial budget but "risk." That is why they call it "risk" and I tell you that some people must have even risked their so-called emergency funds in Bitcoin and are very rich today. Is it not their joy?
Honestly anyone who use emergency funds as an excuse not to invest in Bitcoin anymore wasn't interested in the first place. Emergency fund is not just some exaggerated idea. It is money set for unexpected situations, sure those situations may not happen but what if they do? Would you rather be forced to sell your Bitcoin at a loss just to cover an emergency? When you spoke about the success of people who risked their emergency funds and was rich, lets us be real not everyone who risked their emergency funds have got rich, some lost everything they risked because of improper planing.
At the end of the day, if you dont want to set aside an emergency fund thats your decisions. It is not a force, we all have the right to do what we want to do and how we handle our money differs. The goal is not to live in in fear but to elimnate every possibilty of limitation that could make us regret later. Imagine a scenrio where you need money urgently realizing all your cash is locked in Bitcoin at a low price, nobody wants to be in that situation i know you dont want to either. Having that backup will mean you dont have to say "if i had known". You can invest using a good plan in peace, no matter what situation may arise becuase you have made solid plans to cover them up. So you wont be forced to make desperate decusions. That is the difference between investing and trading i hope i aired my view on this to your very understanding.