The crypto market has been in a bear market for quite some time now. As a result, many people have lost a lot of money, and there is no any signs of stopping. This can make it tough when considering if you should take your profits and cash them in or risk holding on to what you have, but if you found out that you have to take care of a family emergency, this will be a difficult situation for you. With this in mind, you may want to sell your crypto assets to take care of your emergency fund.
This is tempting when the market is down, a temptation to sell one's crypto assets to take care of one's emergency fund. This can be a tempting idea, but it is best to avoid it. But sometimes we don't have choice if we don't have anywhere else to fill in the emergency. But avoid selling your assets in a bear market is advisable, so that is why we need to plan ahead for such time when you're dealing with Crypto.
The main reason why we supposed to have emergency funds aside from our crypto assets is to make sure to have enough money to live on in case of an emergency during bear market when it's not good time to sell. But what if the emergency is due to the economy? That is another aspect to consider, that one I think we have nothing to do than to sell our crypto assets to buy food. Well, in these cases, it is essential to have emergency funds that you can use to buy food. That's reason why It is important to have a plan for future and anything that might come up if you're dealing with Crypto, or find a second job that will give you a way to earn more money.
In Conclusion.
As the crypto market is ups and downs this year, this should be a learning year for everyone that it is important to get our emergency fund in order whenever we investing crypto, we should determine how much we have. It is best to keep a percentage of our assets in crypto and the rest in fiat. Once we have determined how much we have, then decide how to allocate our assets. Put some in crypto, and rest in fiat
Thank you for your attention 💞💖