It’s a strange world at times and the cryptosphere is no different, according to a report from Indeed.com, which is an online employment search engine. Back in December 2017 when Bitcoin soared to almost $20,000, searches for Bitcoin and cryptocurrency reached a peak of 39 searches per million for ‘Bitcoin’ and 46 per million for ‘cryptocurrency’.
Now those searches have slumped by 76 and 41 percent respectively, as published in Coindesk. This correlates with the slump in cryptocurrency value since the New Year. Apparently, nobody wants a job in the cryptocurrency world when its value isn’t excitingly high.
Indeed.com said: “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.”
However, interest in working with the blockchain has remained more stable. This has barely slipped at all since its highest point in February 2018 and stands at around 47 searches per million.
The report says: “The sustained interest in blockchain jobs is perhaps a sign that job seekers believe non-financial companies will pursue blockchain applications, even if financial companies see cryptocurrencies as a fad.”
The report concludes by suggesting that what is happening in the employment market with respect to the new technology is this: people see the blockchain as a “viable innovation” irrespective of its connection to cryptocurrencies.
This is a new employment market that offers great potential for a range of skills, from the tech itself to marketing, design and publishing. In 2017, the number of blockchain jobs posted in the U.S. increased by 207% over 2016, and 607% on 2015. The percentages sound similar to the rises in value of various cryptocurrencies, and it is interesting to note that career interest in crypto seems to be following the cryptocurrency price charts. Presumably, if the market turns bullish again, jobseekers will return, but it seems like a fickle way to approach a job sector with so much future potential.