How to avoid forced selling Bitcoin holding in financial problem

[Hewlet]

Let us tell you about your situation and give you an idea for those who have already started investing. If Bitcoin will down 50% tomorrow and at the same time your income stopped for a few months, do you have enough cash to run a basic life without selling Bitcoin?

Your investment is not supposed to be something you start selling just because you're facing financial deficulty that you're battling for months or a year. If at the slightest financial setback you activate a sell option, what that means is that you're not a serious investor that wants to get anything tangeable from his investment.

Because bitcoin is relatively volatile, along the time when you're still invested, there will come times of DIP and bull and that's not suppose to influence your buy/sell decision. It's always going to be better that you set up structures like an emergency fund and focus on creating better cash flow or possibly having an alternative stream of income such that if an income stream shuts down, You can easily open another income stream without neccesarily selling your bitcoin as a means of surviving on a temporary bases.

[CryptopreneurBrainboss]

Bitcoin doesn't cause much stress, mentally and emotionally, compared to the majority of real assets. The only stress, however which I consider to be normal for all investors, is to learn all you need before utilizing your capital, the discussion concerning how to invest in Bitcoin is being discussed like it seem too complicated. Bitcoin is one of the simplest investments anybody can get into, make researches and do accordingly.

Why won't Bitcoin look complicated to them when the investors in the industry are mainly novice that had no clue what investment was before the boom of the crypto markets. We have amateurs here in their numbers so their reactions aren't surprising. Here's a saying that'll be of help to those finding it difficult with this situation, eliminate the need to sell in the first place instead of  fighting the urge to sell. It's better when you didn't have any need to sell in the first place that fighting to stop yourself from selling because you're afraid or short on funds and all this boils down to your planning before investing from the very begining.

[Fiasem20]

Let us tell you about your situation and give you an idea for those who have already started investing. If Bitcoin will down 50% tomorrow and at the same time your income stopped for a few months, do you have enough cash to run a basic life without selling Bitcoin?

Na the koko be that,always get backup funds.Backup funds go help you make you no sell your bitcoin holdings prematurely,even when your bitcoin holdings no dey premature without backup funds when emergency come up you go just sell your bitcoin when e never reach your financial target.So the most important thing na to get backup funds as you dey invest,and if you build the goal to hold your bitcoin for the long term,that one dey come from financial discipline.When you dey financially disciplined you fit decide to hold your bitcoin for 10 years with the help of your backup funds and that your goal go come to pass because you dey financially disciplined.

[I_Anime]

Nobody prays to lose their source of income because it must affect your way of living. Since, you have emergency funds on ground, you can use it to survive for the main time before you get another means of income. However, having multiple sources of income is good like setting up a business couple with your job to make life easier because you cannot lose both sources of income at the same time.

Some folks can’t even use their emergency funds to invest when they loss their source of income . I personally won’t advice that , your emergency funds is meant to keep you going till you figure out what to do next , because investing with your emergency funds is like you turning something with high volatility your emergency funds, cause your investment will later be seen as your emergency funds. Like I usually say without a source you can invest , but still you will have to be very careful the way you allocate your funds. The best way to invest is having a strong cashflow .

[Big Dirams]

Nobody prays to lose their source of income because it must affect your way of living. Since, you have emergency funds on ground, you can use it to survive for the main time before you get another means of income. However, having multiple sources of income is good like setting up a business couple with your job to make life easier because you cannot lose both sources of income at the same time.

Some folks can’t even use their emergency funds to invest when they loss their source of income . I personally won’t advice that , your emergency funds is meant to keep you going till you figure out what to do next , because investing with your emergency funds is like you turning something with high volatility your emergency funds, cause your investment will later be seen as your emergency funds. Like I usually say without a source you can invest , but still you will have to be very careful the way you allocate your funds. The best way to invest is having a strong cashflow .

Not having a source of income anymore  will affect our investment badly and it won’t be a good idea at all to push our emergency funds into investing that a wrong idea in my own perspective. Emergency funds are there for emergency purposes so we wouldn’t see our investment has something we can touch when any situation comes up.
Without enough cash flow I don’t really think our investment can hold that much especially when we are DCA, in my opinion I guess when our source of income stops I think we should probably take a pause on our investment and I think @Sim_card might be right we should manage on our emergency funds for the main time before we could find another alternative, but managing doesn’t mean we should put it into investing instead for our own up keeps.

[Yorubek]

Nobody prays to lose their source of income because it must affect your way of living. Since, you have emergency funds on ground, you can use it to survive for the main time before you get another means of income. However, having multiple sources of income is good like setting up a business couple with your job to make life easier because you cannot lose both sources of income at the same time.

Some folks can’t even use their emergency funds to invest when they loss their source of income . I personally won’t advice that , your emergency funds is meant to keep you going till you figure out what to do next , because investing with your emergency funds is like you turning something with high volatility your emergency funds, cause your investment will later be seen as your emergency funds. Like I usually say without a source you can invest , but still you will have to be very careful the way you allocate your funds. The best way to invest is having a strong cashflow .

To hold Bitcoin for a long time, it is very important for an investor to have a long-term investment plan or mentality from the beginning, as well as to be aware of risk management from the beginning. Most investors can buy Bitcoin but cannot hold Bitcoin for a long time with discipline, resulting in financial losses. It is very important for us to have a long-term plan when investing in Bitcoin, as this reduces the risk of losing money and has the potential to make money from Bitcoin in the long term.

[Inior]

Having an emergency fund is important and should not be something that is supposed to be negotiable, if you have an emergency fund set aside then when some issues come up it would not be much of a problem to you because you habe have an amount of money set aside. Some people use their emergency fund to buy the dip so they can make more profits, that seems like you are taking Advantage of the dip but it is a mistake that a lot of people make and they end up regretting.  Without an emergency fund it would be difficult to keep holding bitcoin for a long term.

[MainIbem]

Bitcoin doesn't cause much stress, mentally and emotionally, compared to the majority of real assets. The only stress, however which I consider to be normal for all investors, is to learn all you need before utilizing your capital, the discussion concerning how to invest in Bitcoin is being discussed like it seem too complicated. Bitcoin is one of the simplest investments anybody can get into, make researches and do accordingly.

I don't even see learning as stressful cause Bitcoin aside you must have knowledge about something before putting your money into it else it would most likely result in loses than profit, so anyone who uses the learning process of Bitcoin as an excuse is never serious cause you can still be in accumulation process and learning new things. Yes, Bitcoin isn't very complicated what many people find uninteresting about it is having patience to hold longer, many just want quick profits with Bitcoin, and majority of them never make wealth through that means.

[AYOBA]

Nobody prays to lose their source of income because it must affect your way of living. Since, you have emergency funds on ground, you can use it to survive for the main time before you get another means of income. However, having multiple sources of income is good like setting up a business couple with your job to make life easier because you cannot lose both sources of income at the same time.

Honestly is very good for someone to have a difference ways of source of income so that even though you lose one you can use the remaining once to survive, and that’s why those that are into the Bitcoin investments is not that they can only relying on the investment, because market is unpredictable nobody knows how the markets will goes tomorrow, that’s why having the backup funds is very important for each an every investors.

[Frankolala]

Nobody prays to lose their source of income because it must affect your way of living. Since, you have emergency funds on ground, you can use it to survive for the main time before you get another means of income. However, having multiple sources of income is good like setting up a business couple with your job to make life easier because you cannot lose both sources of income at the same time.

Some folks can’t even use their emergency funds to invest when they loss their source of income . I personally won’t advice that , your emergency funds is meant to keep you going till you figure out what to do next , because investing with your emergency funds is like you turning something with high volatility your emergency funds, cause your investment will later be seen as your emergency funds. Like I usually say without a source you can invest , but still you will have to be very careful the way you allocate your funds. The best way to invest is having a strong cashflow .

You don't get the point. If you lose your job where will you get funds to survive, you use your emergency funds to meet up with your basic needs and monthly expenses which is what he meant. Why will you use your emergency funds to invest into bitcoin when that's not the purpose of emergency funds. You are only gambling.

[liasbaa]

Nobody prays to lose their source of income because it must affect your way of living. Since, you have emergency funds on ground, you can use it to survive for the main time before you get another means of income. However, having multiple sources of income is good like setting up a business couple with your job to make life easier because you cannot lose both sources of income at the same time.

Some folks can’t even use their emergency funds to invest when they loss their source of income . I personally won’t advice that , your emergency funds is meant to keep you going till you figure out what to do next , because investing with your emergency funds is like you turning something with high volatility your emergency funds, cause your investment will later be seen as your emergency funds. Like I usually say without a source you can invest , but still you will have to be very careful the way you allocate your funds. The best way to invest is having a strong cashflow .

You mentioned in the last line of the paragraph that we need to focus on a strong cash flow, but because of the excessive Bitcoin sentiment among new investors like us, we buy Bitcoin with most of the available funds. This cannot be done. Just as accumulation Bitcoin on a regular basis is important, cash flow should be given equal importance to us. We can continue to accumulate Bitcoin on a regular basis if we are attentive in managing our funds. We need to take planned steps to manage this fund from discretionary income. You have highlighted the issue of fund allocation. There should be no fear or emotion or excessive luxury in this financial allocation. There should only be a commitment and consistency to continue saving Bitcoin for the long term.