To invest in Bitcoin, you must always be aware and create an emergency fund because this will help you deal with sudden disasters in your life and if you have to get out of that danger, you may suffer a lot financially. If you have this emergency fund, you will have peace of mind and will never make the wrong decision. When you are moving forward for the long term by investing in Bitcoin, you may face many obstacles in the long term and you may face financial crisis again, so you should create an emergency fund so that you can invest in Bitcoin and achieve the long term.
Mental peace has nothing to do with investing.
Honestly Jewan420, I can’t really agree with you on that one, because for me mental health is definitely part of the whole Bitcoin investment journey, especially if you are looking at it from a long term perspective… A lot of the reason why people are constantly advised to only invest with discretionary income, while still keeping an emergency fund, some savings, or even a float, is simply because of the mental side of it man…
For instant, when you go all in and throw in money you are not comfortable risking, maybe money for you business, or money meant for family bills and expenses.. it is not just your portfolio at stake, it is now your peace of mind… You won’t be at your best mental state, instead of calmly holding and trusting your plan, you will find yourself refreshing the chart every hour, worrying about every little dip, and feeling that weight in your chest because the money you put in was not meant to be risked in the first place.. That is not investing from a position of strength, that is investing from a place of desperation, and it will drain you mentally…
Long term Bitcoin holding is as much about patience and mindset as it is about your planning and DCA strategy.. If your head is not in the right place, it is easy to make panic decisions that you will regret later, and that is why I would say mental peace and investment goes hand in hand….