Akin to the saying that excess of everything is bad,
Too much of everything is indeed bad and we must be able to maintain a boundary or let let me put it this way that a limit to everything we are doing, if we don't want to risk losing our investment fund for nothing, we must be careful of the steps we take, the way we trade or invest, the time management as well as the risk factors all inclusive on whatever decision we are taking regarding bitcoin investment, it does not end up in making the first step, but taking the right path in doing so.
The Bitcoin market is very volatile. You can never tell whether the price of Bitcoin will increase or decrease in 10 minutes. There is a big difference between investing and trading. Investing is long-term, such as for your future, and trading is short-term. The risk in short-term investing is much higher than in long-term investing. In long-term investing, you do not have to worry about small ups and downs in the market. In terms of investing, you must have the right song about your wallet. You must have the right knowledge of financial management. Along with investing, you must have an emergency fund. An emergency fund is needed to protect your investment from unexpected financial disasters.
The Bitcoin market is always in a state of volatility, so you need to plan for long-term holding of Bitcoin by maintaining this situation. If you want to be a good investor, then you have to continue to follow the deep purchase and DCA method in Bitcoin, you should observe and keep learning, the more you follow the Bitcoin DCA method, the more success you will get.
And if you have a money crisis, you can invest weekly with all the money, in this way your investment will be quite big after a long time and if you can continue to invest in the DCA method for a few years, your portfolio will be much bigger.
If you have been investing in bitcoin and along the line, you are hit with financial crisis, which means no more funds to invest in bitcoin. You don't need to kill yourself because if you don't try to overcome the financial crisis at hand, it will affect your continuous and regular accumulation of bitcoin. You wouldn't invest at that period and use your reserve funds to take care of whatever problem it is.
However, if it's a real emergency, you are to use your emergency funds to take care of such emergency until you have overcome it. This is the main reason why your emergency funds should be at least three months of your monthly income. If that have been overcome and you are financially stable again, you will start investing and refill your back up funds.
Investing in bitcoin for a long-term needs a good cashflow management so that you give attention to your priority first before anything, if not you might make the wrong decisions.