There’s no denying that the markets are down. You might have heard the common advice to research and buy “blue chip crypto” during bear markets.
But what is a “blue chip crypto” and which should you look at?
Here’s a short introduction.
What are “Blue Chip” Cryptocurrencies?
In poker, blue chips have the highest value on the table. Taking the cue, a blue chip stock is a financially stable, valuable company with a strong business model.
This definition has seeped into the world of cryptocurrencies and the term “blue chip crypto” is commonly used to refer to the strongest cryptocurrencies. However, many would argue that the term “blue chip” isn’t relevant for the field of crypto because of the high volatility.
I mean, even Bitcoin is known to face huge drawdowns of >50% during bear markets:
charts source: CoinMarketCap
So, here’s a disclaimer before we proceed. Although I’ll be sharing some blue chip cryptocurrencies in...