Crypto markets have seen one of the worst meltdowns in the past couple of weeks and the confidence in the cryptocurrencies has also dipped to an all-time low. But even with this pessimism in the markets, various data points show that the fundamentals of the crypto industry are strengthening. The same sentiment was echoed by Brendan Blumer of Block.one when he tweeted that bear conditions are good opportunities for real businesses to grow.
Use bear market conditions to lay a healthy foundation for growth says, Blumer,
While the crypto markets have been languishing at all-time lows, real crypto business owners have been busy building strong foundations to their businesses on which they can grow rapidly. Same seems to be the case with Block.one whose CEO Brendan Blumer took on to twitter saying these bearish conditions are ripe for businesses for real growth.
Bear market conditions are ripe for real growth, and https://t.co/IaNK8hWLo7 has been focused on laying a healthy foundation to scale rapidly @RobertJesudaso1 @__MikeAlexander @SheelKohli @bytemaster7
— BrendanBlumer (@BrendanBlumer) December 4, 2018
The confidence-boosting statement from Brendan contrastingly comes only a couple of days after Michael Novogratz mentioned that
“It sucks to build a business in a bear market” and “There’s plenty of reason to be depressed.”
Brendan Blumer seemed to have got it right as the data over the past 2 months have shown some tremendous fundamental growth even though the prices of major cryptocurrencies have been in the red.
A recent report from Glassdoor titled “The Rise of Bitcoin & Blockchain: A Growing Demand for Talent” shows that blockchain projects and crypto businesses are on a hiring spree. The key finding of the report as followed
- As Bitcoin has captured the public interest over the past year, companies have rapidly invested in hiring for roles related to Bitcoin and blockchain, even in the face of regulatory uncertainty and price volatility.
- Are blockchain jobs growing? Using Glassdoor’s database of millions of job openings, we found 1,775 blockchain-related job openings in the U.S. in August 2018, a 300 percent increase over the same period last year.
- The median salary for blockchain-related job openings is $84,884 per year. This is $32,423 or 61.8 percent over the US median salary of $52,461, according to Glassdoor’s August 2018 Local Pay Report.
- Most blockchain jobs are technical. The software engineer was the most common blockchain job open on Glassdoor, accounting for 19 percent of all blockchain job listings, illustrating the demand for talent who can continue developing this technology.
While recruitment happens to be a key parameter to check on growth in any industry, Glassdoor figures clearly show crypto industry in the real world is not just growing but blooming. It shouldn’t be long the prices too would start reflecting this growth
Are cryptocurrencies in for a real growth or are they too languishing like the prices?? Do let us know your views on the same.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.