When should you take money off the table?

Accidentally predicting the (most recent) Bitcoin peak

Georgio Trovato / Unsplash

Last week, I looked at my portfolio and decided to cash out some of my BTC at around $56,000. 

Was I crazy? Bitcoin had appreciated over 600% in the last year and showed no signs of slowing down. But I took some money off the table anyway. 

This week, Bitcoin’s price dropped to around $49,000. It’s tempting to say I “called the top,” but I didn’t predict anything. I was just following the intuition I got from a thought exercise I call the “Money Pile.”

In this exercise, you ask yourself the question...

Learn more

This post is for
paying subscribers

Subscribe →

Or, login.

Read this next:

Almanack

Creating a High Yield “Savings Account” with Crypto & DeFi

You've bought some Bitcoin. What's next?

26 Apr 26, 2021 by Nat Eliason

Almanack

The Mental Model Behind Every High-Performer I Know

During my first college internship, I completely replaced myself with Visual Basic scripts. Let me explain.  I had been working in Excel for

59 🔒 Oct 14, 2020 by Nat Eliason

Almanack

Oatly: The New Coke

Fool me once, shame on you...

58 Aug 7, 2020

Almanack

Creating a High Yield “Savings Account” with Crypto & DeFi

You've bought some Bitcoin. What's next?

26 Apr 26, 2021 by Nat Eliason

Almanack

The Founder Trap

What happens when the wrong thing works?

44 Mar 17, 2021 by Nat Eliason