Life can be so unpredictable that if we don't prepare well enough for the future against any type of emergencies that may arise we might end up going back to square one like we never had a plan or a job in the first place.

There are circumstances that may hit a man that his single job that is his source of income can't handle it compared to when he's with multiple streams of income. Still fresh in my head the covid-19 pandemic that made a lot of companies to layoff some of their workers , I had a family member that was affected and that was how he fell back to his little savings (if it were bitcoin we would call it hodling). Assuming he had other sources of income flow a layoff from his company wouldn't have had such adverse effects on him that he fell back immediately to his savings. So I agree, having multiple streams is much better than just a single source of income in today's world.

However, some persons that sell their bitcoin hodling in some cases may not be as a result having no steady income source or  a single income source that later went bad but could be that they faced life challenges and circumstances that not even their multiple income source was capable to settle it all so they had no option but to sell their bitcoin hodling even in a loss or average price to settle their problems. Life is entirely unpredictable!

Obviously that's a prerequisite if you want to survive hodling bitcoin for a really long time. Also not just have one source of income, make it more than two or even three if you can although three sources of income is already too much also make sure that you're doing your body a favor and getting enough rest while you work your ass off, you wouldn't benefit from multiple income streams if you die of fatigue. Make sure that your second source of income is not that intensive as your steady source which is your day job.

I really agree with what you said and with what you concluded. Even though this is a common thing that people know, this really needs to be a reminder for anyone who really wants to become stronger in holding the bitcoins they own. Because after all, when investing in high-risk assets, you have to use really cold money and not the money that we actually need to meet our living needs. And to maintain this, of course we need an income that can continue to cover or fulfill every need that always arises in our lives. So having a stable source of income is indeed important for this. In fact, so that we can continue to maintain our bitcoin ownership, we also need to prepare an emergency fund to address any needs that are outside the budget. Someone who doesn't have a source of income will definitely find it difficult to keep holding onto the bitcoins they own. Because when an urgent need comes and we no longer have anything else to sell other than bitcoin then of course in that situation we have no choice but to sell bitcoin. Even if we have a source of income but then a fairly large urgent need arises then this can still threaten our bitcoin holdings if we don't have an emergency fund that has been prepared from the start. So to become a strong Holder you need a good source of income, and you also need thorough financial preparation such as having reserve funds and emergency funds.

When you go for a long-term hold, you must hold the bitcoins for a long time without selling them. And due to which you have to have some other source of income to meet your daily expenses otherwise you cannot meet your daily expenses.  This will force you to sell the bitcoins.

Most Bitcoin investors are motivated to invest by seeing others profit from Bitcoins and later sell the Bitcoins at a loss as they have no other source of income.  Because at that time money is needed and on the other hand he panics when he sees loss. So one should not consider holding Bitcoin long term unless one is financially strong and has no separate source of income.

If you don’t have other sources of income, then you will find it difficult to hold on. How will you even be able to feed yourself or take care of other necessary things if you don’t have other sources of income? If you are a trader, you can take from your profits to take care of yourself, but if you are holding for a long time and you don’t have other sources from which you will be making money, then you won’t be able to hold, and you will end up selling your bitcoin just to take care of yourself.
 
We shouldn’t be too desperate to invest just because you see people saying there is money in bitcoin and things like that. If you invest everything you have in bitcoin, then you will end up selling everything back gradually, and you might even be selling at a loss because the bitcoin price might have dropped by then. Don’t be deceived by people who tell you to invest everything you have in bitcoin or sell your properties just to invest in bitcoin.

Typically I am one of those people that have hold and sold when I needed money because I don't have other source of income neither a saving. OP is right about that. You can't focus in holding if you can't even hold for a long time because your mindset is you've got something to pull off when you are in need of money. While technically, that's what we've been doing and there is nothing wrong with that. But if you want to survive on this market with a longer term of goal, then it is a must that you shouldn't touch yet your holdings and keep it as is until the right time comes.

Of course, hold also requires knowledge, imagine that you have money and every time you buy on a new ATH, what profit can you get with such a strategy? Of course, if you hold and only buy more, then in the end there will be some kind of profit, but is there any point in hold for 10 or 20 years without withdrawing profit from your investments. It follows that knowledge is important in any business you engage in  trading, or holding, or business, because without it the result will be minimal or there will be none at all.

Just having a source of income is not even okay for people who have just one and then trying to fit in all their expenses and investment into the budget for it. More than one source of income is required to hold comfortably, or even if it is one source of income, the income has to be huge if it will be okay for the plan to invest, hold and not be tempted to pinch your investment because you still have enough for your daily expenses. If you are still struggling to feed and also for other bills due to low income, the first thing is to first find solution to your problems before you start considering investing.

Bitcoin investment should be seen as a secondary means of income because you need to be patient with your investment to grow for a very long time maybe 4-10yrs or more before you can sell to take profit. Most people don't understand that bitcoin investment is like every other investment that when you gave started, you will need time to nurture and grow the investment for it to expand, until it has reached the level that when you take profit it wouldn't affect the investment.
This is why you should use like 10% or 5% from your weekly or monthly income to buy bitcoin weekly so that it will not affect your monthly expenses. There is need for reserve funds and emergency funds so that you can keep growing your investment without going back to sell it when an emergency arise. Another problem that some investors have is that they invest aggressively due to FOMO or late start on their bitcoin investment and they want to acquire more bitcoin than their capacity, before you know it due to lack of proper plan, when an emergency arise, they will be left with no fiat and this will make them go and sell their bitcoin, even though the price is lower than their entry point, and they will run at loss. If you have only one job, you can also trim down your expenses to help you continue to your regular DCA method weekly or monthly. Bitcoin investment is for the future and you need to understand that for you to be able to HODLi

this is so true. I have read a lot of thread when people will say that they sold their personal property before they are able to buy a bitcoin, the thing always sound very funny to me because how can you sell off your asset just to buy make investment? My knowledge of investment has always been that you have some reserve fund that is not in use at the moment and so you want to out it into something that will course the money to increase in it value with time.

How do you then successfully make an investment when you don't have a source of income? I think at the stage when you don't have a source of income, what you need is a job or business that you can start and will be certain that on a daily or weekly bases, you will be getting some funds from it.

Investment is for working class individual and to be really honest, if you're not working, you shouldn't think on making any investment and that include buying of Bitcoin.