Interest in cryptocurrency-related jobs has declined in parallel with a slump in cryptocurrency prices, according to employment search engine Indeed.com.
According to a new report released Wednesday, cryptocurrency-related searches on the site climbed from June through mid-December of 2017, peaking at 39 searches per million for the term "bitcoin" and 46 searches per million for the term "cryptocurrency."
Notably, Dec. 16 saw bitcoin prices surge to an all-time high of close to $20,000.
Since then, though, the aforementioned searches have dwindled by 76 and 41 percent respectively – a trend that Indeed attributes to the simultaneous slide in cryptocurrency prices since the peak.
"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," the company said. "Job seeker interest on Indeed for bitcoin and cryptocurrency jobs has fallen, too."
However, Indeed reports that interest in blockchain-related roles has endured, with the search term garnering 47 searches per million at the time of the report – only slightly lower than during its February high.
"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 company writes in the report.
In December of last year, Indeed also provided CoinDesk with data regarding blockchain jobs posted. The report indicated that the number of blockchain jobs posted in the U.S. had increased by 207 percent since 2016, and by 631 percent since November 2015.
Indeed app image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by Block.one, a firm with interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets including bitcoin and EOS. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.