Along with the recent slump in the cryptocurrency market, the general public’s interest in crypto-related jobs has waned, according to research by one of the biggest employment search engines in the world, Indeed.com.
The cryptocurrency market has had a pretty bumpy start to 2018. With most coins reaching their all-time highs (ATHs) in January, the market turned bearish soon after that. Today, the market capitalization of all cryptocurrencies stand at a mere $300 billion, almost 64% down from its peak at $832 billion in early January (data from CoinMarketCap).
The prices of some of the biggest cryptocurrencies have taken a beating as well. Bitcoin shed close to 60% of its ATH price as it struggles to hang on to the $8,000 support at the moment. Ethereum correction was worse – going from $1,425 all the way down to $440, almost a 70% loss in value.
Cryptocurrencies Lose Their Hype
As these corrections were rather violent and disconcerting to new investors, they also tested the general public’s interest in the cryptocurrency world. According to a report released by Indeed.com on Wednesday, searches about cryptocurrency-related jobs has decreased ever since reaching its peak in December 2017.
The statistics were astounding. The term “bitcoin” peaked at 39 searches per million, while the term “cryptocurrency” topped out at 46 searches per million.
This was also around when Bitcoin reached its all-time high of $19,800 on Dec. 16.
However, fast forward 3 months, and we see the search frequencies for the terms “bitcoin” and “cryptocurrency” decline by 76 and 41 percent respectively, which is reflective of the general downtrend in the cryptocurrency market over the last couple of months.
Below is an excerpt from the report:
“Over the last year interest in cryptocurrency jobs on Indeed has risen strongly. However, in recent months the prices of bitcoin and other cryptocurrencies have been volatile and (in some cases) declining. Job seeker interest on Indeed for bitcoin and cryptocurrency jobs has fallen, too.”
Despite this, searches for jobs related to blockchain has not seen a decrease as drastic as “bitcoin” or “cryptocurrency”, with 47 searches per million in the current day. Based on this, Indeed came to a conclusion that although the hype about Bitcoin or other cryptocurrencies has been decreasing, the interest in blockchain and its applications is still going strong.
“The sustained interest in blockchain jobs is perhaps a sign that job seekers believe non-financial companies will pursue blockchain applications, even if financial companies see cryptocurrencies as a fad. Rightly or wrongly, blockchain is seen by job seekers as a viable innovation whether or not bitcoin and other cryptocurrencies are.”
Shiba Inu to Reach 1$ soon? This New Upcoming Development Proves it Right
Can Bitcoin (BTC) price be predicted?
The Top Cryptocurrency Jobs in 2023 – Find Your Dream Job in the Crypto Space Now!
Big News: Ripple Price is about to TRIPLE? This News Confirms…
Institutional FOMO? Data Suggests Bitcoin’s Latest Rally Largely Driven By Institutional Interest
Top 20 websites to source Blockchain/Crypto jobs
Ripple (XRP) and Tron (TRX) Were Most-Searched Cryptos in June
Hydro-Quebec Reviews Plans to Power Cryptocurrency Mining
Conservative Prediction: Can XRP reach $5 in 2023?
A survey Suggest a Bright Future for Cryptocurrencies
This Token EXPLODED 107% in 24 hours! Why buying it today has a MIND-BLOWING potential
What is Render Crypto and How Does It Help The Metaverse?
The Big Ripple Price Prediction for 2023 – How high can the XRP price go in 2023?
This Coin is Now Outperforming Bitcoin
What are the most valuable college degrees? Cryptocurrency tops the Forbes list
Shiba Inu Price Prediction: How High can SHIB Price reach by 2030?
South Korea on Blockchain and the 4th ‘Industrial Revolution’
JP Morgan got EXPOSED for its Crypto plans – Will Bitcoin go up?
FTC Warns About Bitcoin Blackmail Scam
You might also like
More from Blockchain
How to Trade ARB on Binance – Quick Guide
How to trade ARB on Binance? In this article, we'll take a closer look at what is ARB and what …
Top 3 Crypto Aggregators To Pick in 2023
To maximime yield and simplify the trading experience, Crypto aggregrators are an unparalleled choice in DeFi. Here are the …
Don’t Miss Buying Cardano at $0.35! Will Cardano reach 1$ now?
Cardano is still hovering around a price of $0.35 despite Bitcoin exploding. Will Cardano prices follow? Will Cardano reach 1$ …