Linkedln : Bitcoin’s bear market is the reason for the decline of Blockchain development demand

Bitcoin’s bear market is a cautious and pessimistic market situation that traders likely prefer to sell than buy. They can only expect to gain lower highs and lower lows.

Source: Coinmarketcap

Bitcoin has officially entered the longest stretch of declining prices in its 10-year history since Dec. 17, 2017. In addition, Bitcoin’s latest stretch surpasses the period of the infamous 2013-2015 bitcoin bear market, which spanned 410 days from its price high to low.

The report of Blockchain job seekers in the past year

The new reports show that fewer people on the job market are applying to blockchain jobs following bitcoin’s bear market throughout 2018 and parts of this year.

According to the “Emerging Jobs” report from Linkedln, the industry of blockchain in general and the role of “Blockchain Developer” in particular failed to make the list for 2020. The report analyzes the job market and growth in different sectors, showed a decline in popularity for crypto-assets was the result of low demand for blockchain development.

Source: LinkedIn

Blockchain Developer didn’t come back, it is not surprising when the rapid decline in popularity of Bitcoin and other cryptocurrencies has been happening.

Similar to Linkedln, a report from Seen – tech hiring platform operated by Indeed.com – showed the same result. The statistic analyzes found that while demand for blockchain services remains high, developers seeking employment in the sector have declined after surveying millions of jobs postings on Indeed.com

The report stated they found that searches for bitcoin, blockchain and cryptocurrency roles have gone done slightly since reaching a peak in early 2018. Looking more particularly, in the past year, the percentage of cryptocurrency job postings per million on Indeed have increased by 26%, while the percentage of searches per million for jobs has gone down by 53%.

bitcoins-bear-market-is-the-reason-for-the-decline-of-blockchain-job-demand
Image via Seen

On the contrary, the increase in jobs for blockchain is still a positive signal, mean that current developers looking for employment will have their pick of the litter in 2020, even if the overall number of job seekers in the sector has declined.

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