Interest in Crypto Job Evaporates with Market Fall

March 28, 2018

Job seekers got less interested in vacancies related to Bitcoin and other cryptocurrencies due to price decline, as stated by analysts of Indeed.com.

According to the report published by the company on Wednesday, number of search requests with “bitcoin” and “cryptocurrency” has been growing during the period from June to mid-December 2017 with crest values of 39 and 46 queries per 1 million respectively. Note that December 17 was the first time ever for average weighted rate of 1 BTC to exceed $20,000.

It has been over 3 months since and the number has reduced by 76% for “bitcoin” and 41% for “cryptocurrency” correspondingly. Analysts assert, the trend is caused by crypto market downfall and digital currency prices dropping by more than twice from their max levels.

“Over the last year interest in cryptocurrency jobs on Indeed has risen strongly. However, in recent months the prices of bitcoin and other cryptocurrencies have been volatile and (in some cases) declining.  Job seeker interest on Indeed for bitcoin and cryptocurrency jobs has fallen, too”, the company’s report says.

Despite this, interest in blockchain-related job opportunities remains the same. At the moment of report release 47 queries out of 1 mln at Indeed contain “blockchain”.

The company notes, continuous interest in such vacancies is produced by job seekers believing, companies are looking for developing apps and other blockchain-based services even though most of them regard cryptocurrencies as speculative assets.

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