One of the reasons why it is emphasized that a Bitcoin investor should have emergency funds, is not just for the mere fact that everybody should have emergency funds, is basically because hence your faced with a little short coming or challenges, instead of dipping your hands into your investment it is rather you beckon to your emergency funds.
Yes, you are right. From my perspective, an emergency fund is like a life jacket, which keeps me worry-free during a sea voyage or water journey and protects me when needed. Having an emergency fund during investment means that you can be worry-free during investment and in case of emergency, it will protect you from investment losses.
Just as there is a fear of drowning while traveling by water, there is a fear of drowning in investment while managing investment. Just as a life jacket protects you from drowning in water and works to save your life, an emergency fund protects you from drowning in investment in an emergency and helps to bring continuity to investment. An emergency fund becomes a shield for you in an emergency and tries its best to protect your investment. An emergency fund is not only effective in investment, an emergency fund can also play an important role in life management and can be very effective.
I consider an emergency fund to be an integral part of investment management. I believe that having a discretionary income, emergency fund, adequate cash flow, and knowledge of investment management and risk management are essential for long-term survival. Without these, being successful in long-term investing is one of the most difficult tasks.