Hello guys, I’m new to the thread and I want to understand more about buy buy or sell sell , I want to know more about buying and accumulating Bitcoin, I will be glad if you guys can help and reply or give answers to my questions
Thank you .
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Okay thank you so much for your encouragement and knowledge , with these as a beginner I will focus more on buy buy buy rather than the selling part to enable me invest more rather than selling and be at lost.
But what if I decide to use my emergency fund to invest in Bitcoin ?what if the market is favorable and I decide to use my emergency fund to get more? Just as u said, it stresses the need to buy and continue to buy and hold for long .
Investing using emergency funds is never a good idea. You can never tell how long the market will be in a good position. The Bitcoin market is very volatile. You might be thinking that you can invest with emergency funds and withdraw it after some time with profit. This is not sounding like an investor but like a business person. Emergency funds are only for dealing with emergencies. You should never invest or make investment decisions with emergency funds. If you invest with emergency funds and the market does not perform as you expected. And if the market falls. In the meantime, if you have to face financial disaster, you will have no other option but to sell your investment. Always refrain from investing with emergency funds
We usually use emergency funds to protect our Bitcoin long-term holdings, so that whenever we face problems with long-term holdings, we will immediately deal with that danger with emergency funds. Different people may present it differently, but basically we create emergency funds to deal with dangers, a person who works and uses 10% to 15 percent (maybe even more) of his salary to regularly perform DCA in Bitcoin on a weekly basis. In such a situation, if he suddenly falls ill, it becomes difficult for him to operate the DCA method on a weekly basis and to meet the basic needs of the family, he can use emergency funds.
Because it should not be said that a person will always have money, because we are preserving our investments in the long term and are also following the weekly DCA method in the long term. So it is natural that dangers will come in the long term, we will use this emergency fund to deal with this danger, so that our long-term Bitcoin holdings can be safe and secure. And if other people use it for different purposes, that's their personal opinion.