♤Bitcoin doesn’t reward panic
♤Timing the market perfectly is a myth
♤Long-term thinking beats quick emotional reactions
I’ve since started using Bitcoin more as a long-term store of value than a get-rich-quick tool.
That is why I say and I have said in the past post that you should invest as much as you can afford to lose in Bitcoin investment. Because whenever you invest in Bitcoin in excess of demand, you can immediately face danger, if you are going to hold Bitcoin in the long term, you have to adopt some strategies. Because you can use this DCA method and you definitely need emergency funds to sustain Bitcoin investment. If you fail to deal with any danger during any danger, then you will definitely have a lot of pressure on Bitcoin investment, that is why I say that when you have an emergency fund, you will be able to deal with any danger immediately with an emergency fund.
As a result, your Bitcoin investment will last for a long time and will not face any problem, you have made a suitable decision and if you can sustain this decision for a few years, you will definitely be successful.
Investment fund and emergency fund should be separated. It’s not like you will save for emergency funds for future investment plan, that wouldn’t work in the long run. Once your investment turns out a failure, then you also lose instantly your emergency funds, so the danger of losing both of them will always be there.
Have your own investment fund and separate emergency fund as well. That way, if ever you meet emergencies along the way, you have your funds to cater for it, leaving you not in panic while you continue to DCA on your investment.