Bitcoin is a highly volatile asset. Therefore, proper prioritization and management of emergency funds, reserve funds, investments, and holdings is very important so that there is no sudden income shortfall or undisclosed expenses. Unexpected situations such as: sudden temporary closure of a long-standing source of income, medical treatment, simultaneous car and house damage, depletion of reserve funds due to the fall in the price of BTC - all these can create a cash flow crisis. Therefore, it is not only important to have an emergency fund, but also to have a plan for prioritizing floating cash, contingent expenses, and back-up funds.
Yes, it cannot be denied that emergencies are unpredictable. That is why, if we want to feel more secure, we must have an emergency fund. Because an emergency fund plays a very important role in our lives, especially for those of us who invest in Bitcoin. Therefore, once we start investing in Bitcoin, we must begin setting aside money for an emergency fund. Because, it is this emergency fund that will make us stronger in holding onto the Bitcoin we own.
So never assume that successful Bitcoin holders don’t have an emergency fund. In reality, one of the factors that cause someone to fail in holding onto Bitcoin in the long term is the lack of an emergency fund. Therefore, never underestimate the importance of an emergency fund when investing in Bitcoin.
Yes, because you never know when unexpected situations will come in people's lives, unexpected situations are a natural and very possible thing, and you need to be properly prepared to deal with these unexpected situations, because when it comes to Bitcoin investment, it is a long-term commitment, and to achieve success from it, you must keep it long-term. But if you have to face financial problems during an unexpected situation, and at that time if you do not have emergency funds, then there is a possibility that your Bitcoin investment will be damaged, which will definitely cause loss for you, so emergency funds are necessary to maintain an investment in the long term, and this should not be ignored in any way.