Barclays Investigates Investing.com If Bitcoin Prices Will Lead to More Hiring for Crypto Jobs

Investing.com – Bitcoin’s surge past $100,000 fueled speculation about renewed interest in the cryptocurrency. Barclay (LON: ) analysts suggest the hiring landscape in the crypto sector remains subdued.

They analyzed Barclays’ recent price hike, partly due to the crypto-friendly Trump administration’s protections, which led to an increase in crypto-related job postings.

Using Lightcast data, the analysts tracked job listings that included keywords such as “cryptocurrency,” “bitcoin,” “ehereum,” “metaverse,” “web3,” and “blockchain.”

The findings show that crypto-related job postings peaked in late 2021 and early 2022, followed by Web 3-specific roles in 2022.

Since then, the bank has reported a steady decline in hiring activity.

“Although the price of bitcoin has responded to the crypto-friendly Trump administration, it has failed to engage,” the analysts wrote.

Among the keywords tracked, blockchain-related job postings will remain the most prevalent through 2024.

However, when analyzed against January 2022 levels, Barclays notes that data shows that all crypto-related role categories are still shrinking significantly.

The report highlights the correlation between Bitcoin market performance and broader employment trends in the crypto space.

He explained that while the possibility of regulatory changes under the Trump administration may be creating optimism, labor demand in the sector has not yet translated into significant change.

Barclays’ findings suggest that despite Bitcoin’s recent rally, the crypto industry’s employment recovery may lag behind other indicators of market sentiment.