At the time of reporting the news, Bitcoin has been trending at $63, 8XX.XX and Ethereum at $4,6XX. XX range. This just makes it obvious that Bitcoin is continuing to rise and Ethereum is continuing to fall.

There is more to look in to the cryptocurrency market other than Bitcoin and Ethereum.  Those who are looking to make profits in the cryptocurrency space need to look at Bitcoin, Altcoins, Meme Coins, Stable Coins, NFTs, and DeFi Processes. And, now we have regulators stepping in to the scenario and of course tax authorities.

A new investor in the cryptocurrency space is having to understand a lot of things like PoW, PoS, and a range of consensus mechanisms.  They are having to understand wallets. They need to know that everything is gone if they lose their private key.  They need to understand gas fee.

The important of all users have to understand the use case of a particular cryptocurrency.  The use case of a particular cryptocurrency or altcoin is important, because people choose to use a token for its use case.  If there is no proper use case, people do not have a reason to hold it.

And, the biggest secret about bitcoin or the price of any token is no one has a clue as to what gives it the price it is tagged at. And, people really don’t have a clue as to why the price would go up and why it would go down. However, they know this is a volatile space and the price will go up and go down, but timing the market is a challenge.

And, when after all this people decide to work in the cryptocurrency space, they need to worry about their own domestic jurisdiction and the taxability of the profits thus earned.

Thus, investing in cryptocurrencies requires practical understanding of a whole range of stuff.

With so much left to understand and homework half done, an average investor is coming across Bitcoin advocates and Altcoin enthusiasts each of them pushing their own agenda.

Ultimately, it is all about making profits and wealth building.

Wealth creation refers to building wealth through a variety of methods using financial products. When you invest in financial products for a long period, you get back higher returns.

Bitcoin, Altcoin, NFTs are now a part of the wealth building process, thus occupying a space in their diversified investment portfolio.

There are different variety ways to earn passive income like investing, rental properties, and earning royalties. NFTs are interesting because they are useful in earning from royalties. Royalty is the sum paid to a patentee for the use of a patent or to an author or composer for each copy of a book sold or for each public performance of a work.

The cryptocurrency space is evolving. Therefore, those who are in the cryptocurrency space for money making should looking beyond the highs and lows of Bitcoin and Altcoins.