The bearish trend of the Cryptocurrency market is no longer news in the world. It has been a long phase of hope and despair in the history of Cryptocurrency and year 2018.
The bearish trend that has been dominant since the beginning obf the year saw a period of stability in the last three months. However, a renewed zeal of bearish move took over the Crypto space since November 15.
While many reasons could be adduced to the recent bearish move, which is inclusive of the hard forking of the Bitcoin cash, the trend since the beginning of the year has had a negative impact on the phase of the Crypto space.
A massive market shed has taken place which has taken the volume of the market cap below $200 million. The shed in value has led to a reduction in the level of job offers as well as seekers. This is revealed in the survey of Indeed.Com.
The Decline Of Crypto Job Offers and Seekers
The recent statistic has shown that there has been increasing interest in the blockchain and Cryptocurrency space, and this has translated to an increase of job opportunities in the space.
The level of interest in the Crypto sphere has stimulated many universities around the globe to start offering courses related to Cryptocurrency and blockchain. The promising future of the industry has made space a haven for job seekers, and also there has been a massive crossing from other fields to the Crypto space.
However, a recent study of Indeed.Com has shown that there has been a decline in the workforce in the industry due to the bearish trend.
The report by Indeed.Com indicated that since October 2017 to October 2018 job seekers seeking for roles related to Bitcoin, the blockchain, and Cryptocurrency has reduced by 3.06%. Also, employers interest in roles related to the same terms rose by 25.49% which is a contrast to the previous years.
The data from the chart shows that in the previous year, from October 2016 to October 2017 job seekers interest for roles related to the blockchain, Bitcoin and Cryptocurrency rose by 481% while the employers interested for related to the same term rose by 325%.
From the chart, the blue lime indicates people seeking to work in the blockchain sector and the red line is employers who are looking for qualified individuals.
While the bearish trend continues and the nascency stage of Cryptocurrency continues, growth and recovery of the market should make the labour market more flourishing.