While every investors does need an emergency fund available for obvious reasons, you don't have to save up for emergency before you start investing, you can start with your investment first and then start saving for emergency situations later or you can do them simultaneously, and both funds should come from your discretionary funds so as to not disturb your necessary and basic expenses.
Emergency funds are like a fail-safe that helps to ensure your investment isn't disturbed during accumulation, it also makes provisions for situations like you losing your job, it helps keep an investor going until they secure another job and get their income flowing again all while keeping their investment intact.
I'm sure there are situations where investors had to sell the bitcoin stash early to take care of emergencies, it could be an accident and your insurance isn't coming early enough or it's not able to cover your expenses, it could also be a serious health condition that requires alot of money to treat, your emergency income accounts for and helps take care of these situations.
In this case, people's choices may vary. Some prefer to set up an emergency fund before they invest, but there are also those who immediately choose to invest and save up for their emergency fund while at it. However, this should not be an obstacle for someone to start investing in Bitcoin, because they can also invest in Bitcoin even before having an emergency fund. But they need to create an emergency fund as soon as possible because they just don't know when the situation will become unfavorable to them—having an emergency fund will greatly help them face unexpected situations without having to sell bitcoin at the wrong time.
An investor without an emergency and backup fund will find it very difficult to invest for a long-term, therefore it is important to have your emergency funds, not necessarily very huge amount in as much as it can meet up your needs when the need arises for it, its an extra fund, which you need to save within 3-4 months so that it can save your investment from being sold off before the time that you wish to sell it within your long-term journey.
Many people save some money before starting to invest, while many do not. So, you earn $200 per month and after deducting all your expenses, you have $50 left to invest. But you do not have an emergency fund. In addition to investing, you need to create an emergency fund. In that case, you can invest $25 and keep $25 for the emergency fund. And what if you reduce your extra expenses and keep them for the emergency fund or invest. For example, eating out at extra restaurants, smoking too many cigarettes, etc., you can reduce all these extra expenses and put money in the emergency fund. In this way, you can very well fulfill the amount of money you want to put in the emergency fund. Try to put 3 times your stable income in the emergency fund. When you are able to create an emergency fund, you can create different types of reserve funds if you want. It is completely up to you. For example, if you have a son or daughter, you need to pay for their education expenses. You can create some reserve funds to meet such financial risks.
You just need to have a good money management skills to be able to invest in Bitcoin because even though you have a source of income, if you cannot manage your finances properly, you may be caught in a very difficult situation in the future which might result in you tempering with your holdings, that's why a good money management skills is required in Bitcoin investment, so that from the little you are earning either weekly or monthly you can still keep your emergency funds out of it, and possibly a reserve funds, because in other to be able to hold successfully and on the longer term, all these needs to be in place, so that you wouldn't have to temper with your holdings if a serious emergency situation arise in the future.
Yes, you need to have a consistent financial system to continue investing. Because as we all know, Bitcoin is not for short-term investment. It is an opportunity to build a wealth by investing for the long term. There may be many obstacles in front of you while investing for the long term. You have to ignore all those obstacles and continue investing. And during all those obstacles, funds will come in handy. Emergency fund, reserve fund and sufficient cash flow. If you have sufficient cash flow, you will not need any other funds. But if you do not have cash flow, then I think it is very necessary for you to start any fund. It is not only investors who need to use the fund. Anyone can arrange funds for them if they want. A fund will help you meet the needs of your family. The investor does not have to break the invested money before reaching the target.
So if you are an investor, in my opinion, you must have a fund or sufficient cash flow.You must not have it all for you to be able to invest in Bitcoin and be successful, it's true that cash flow is very necessary, but I believe that once you have a source of income and the will is there, you have no excuse why you cannot invest in Bitcoin and be successful, because having a source of income is what helps you to be consistent in buying and accumulating Bitcoin weekly or monthly , and it even helps you to build your emergency funds from there, what is greatly needed is for you to be able to plan your income very well especially as a low income earner, because any misstep might have a serious dent in your accumulation that weekend or month ending.
So in essence of what am trying to say is that once you have a source of income, you can always invest in Bitcoin and be successful, as long as the will is there, and even as a low income earner, you can still be successful in it, all that is required from such fellow is to have a good money management skills so as when the pay check arrives, the money for upkeeps, DCA money, emergency funds and every other things that will be needed before the next paycheck arrives will be planned accordingly, because he who fail to plan is practically planning to fail.
And that is where most persons who is not informed get it all wrong they think or feel before going into Bitcoin investment one ought to have everything already in place which is wrong, because even if you keep an amount you think or feel will be okay or sufficient for your investment then you are wrong because you can not actually measure the money that will be sufficient for your long term investment and so if any investor tries that and at some point the money they kept got finished what will it become of them, will they stop investing? So it is not advisable to... And for that case one should start accumulating so long as they have a source of income that can keep there investment progressing because the most important thing is starting first then everything will follow suit.