Crypto and Blockchain Jobs decline with the Crypto Market Capitalization

The past month was a disaster for Cryptocurrency prices. Every cryptocurrency reached new yearly lows, because of the mass panic that snowballed. Large selling volumes were enough to break the support levels and it wasn’t pretty. Unknown to most however, is that the same thing is happening with blockchain jobs postings in the Blockchain industry.

While in general, Blockchain jobs specialists are still very well paid and searched for, the demand has dropped exponentially since last month. The demand affects not only blockchain jobs, but also coders and developers. According to a study, which was done earlier in the year by Indeed, the decline started late 2017 when the crypto market was near its peak.

Blockchain Jobs are declining

Since October 2017, job seeker interest for positions related to Bitcoin, Blockchain or any form of crypto has declined. At the same time employer interest for the same positions rose by only 25.5%.

When you look at the data for the 12-month period between October 2016 and 2017, you would see completely different worlds. Job seeker interest for roles related to Bitcoin, blockchain and crypto rose by the staggering 481.6%. Additionally, employer interest for the same roles rose by 325%.

The first line shows people who are looking for any form of blockchain jobs in the blockchain sector. While the second line are the employers who are looking for qualified professionals. The two figures have gone inverse of each other. This means that previously more people were interested in working at the blockchain sector than there were positions available. At the moment, far less people are looking for a position in the sector.

It’s important to note that the blockchain and blockchain jobs sector are still developing. A 25% increase in demand for employees is no small feat. Slowly, the blockchain sector is creating job opportunities for the willing and able. If this was any other new industry, this level of growth would be admirable. Unfortunately, with the industry experiencing a huge amount of unwanted and unneeded regulation, it’s very hard to imagine that companies will grow at an exponential rate.

Read more:

• Zero-knowledge Proof Guide and the differences between public and private Blockchains
• Top 5 worst Initial Coin Offerings (ICO) of 2018
• Top 20 best US cities for Blockchain and Crypto-related jobs
• J.P. Morgan: 3 company stocks that will benefit greatly from Blockchain