In spite of the recent fall in the cryptocurrency market, jobs related to Bitcoin and Blockchain are at an all-time high according to a recent survey from Glassdoor. Freelancing websites have experienced a boom in demand, with freelancers possessing blockchain skills receiving several orders. An American website, Upwork, stated earlier this year that the blockchain skill was the fastest growing on its site and the demand for jobs related to the blockchain surpassed the supply of blockchain experts available on Upwork.
In spite of Price Drops, Job Openings are Booming
The survey was published in October, and it spanned a timeline of 18 months from April 2017 to August 2018. The study revealed that the number of job openings for Bitcoin and the Blockchain experienced steady growth even after the significant market fall that came when the market peaked late last year to early this year. A lot of cryptocurrency giants partook in asking for jobs with the most vacancies coming from American crypto exchange Coinbase and Ethereum co-founder Joseph Lubin’s ConsenSys.
Surprisingly, despite the bitcoin price hovering around a third of what it had been during its all-time high in December, job vacancies increased to its highest in August 2018. Glassdoor researchers wrote about the survey that;
“As more employers become interested and invest in the technology, the professionalization of the space has accelerated as well.”
The price of several digital currencies began its rise in May 2017. At that period, only 234 job blockchain and bitcoin jobs were available in the U.S. About 17 months later, with the bitcoin price thrice its price in May 2017, as much as 1775 blockchain and bitcoin jobs were available. The top markets for the jobs were also listed in the survey with New York and Silicon Valley topping the charts.
The Looming Future of Cryptocurrency
Glassdoor stated that the growth spurt experienced in the crypto world was surprising in light of the increase in prices of digital tokens. They added that in spite of the unpredictability in the prices of cryptocurrencies, job vacancies in the crypto space have continued to grow, which indicates that employers still trust that crypto provides excellent market opportunity in the nearest future.
Another survey had found out that in Asia, the number of blockchain and bitcoin job vacancies had increased by 50% since 2017. Glassdoor stated that despite the volatility in prices of cryptocurrencies and the criticism lashed out by some members of the public; crypto is set to have a positively defined future. They further added that the staying power of cryptocurrencies and blockchain technologies have not yet been revealed but the job vacancies seem to keep on increasing and jobs still seem to be holding steady.