The cryptocurrency gold rush has produced a lot of jobs, with the share of cryptocurrency jobs per million rising 1,457% over the past four years, according a study by job site Indeed.com.

Despite drastic price fluctuations (Bitcoins volatile value shot up more than 230% in the first six months of 2019 to above $12,000 per Bitcoin) and nearly half of companies citing regulatory uncertainty as a major barrier to blockchain adoption, employers continue to ride the wave and invest in blockchain tech and talent.

Mark Zuckerberg, for instance, wants to launch Facebooks Libra, a new global cryptocurrency, in 2020. And digital payment giant Square recently assembled a crypto-focused team, Square Crypto, with the goal of strengthening the Bitcoin ecosystem. You will also soon even be able to spend Bitcoins at Starbucks through a new exchange app that converts digital assets into dollars.

Indeed analyzed millions of job postings on Indeed.com to unpack how Bitcoin, cryptocurrency, and blockchain trends have affected the job market.

Above: Cryptocurrency job trends.

Image Credit: Indeed

Searches for Bitcoin, blockchain, and cryptocurrency roles are going down yet employer demand has skyrocketed. According to Indeed, in the four-year period between September 2015 and September 2019, the share of these jobs per million grew by 1,457%. In that same time period, the share of searches per million increased by 469%.

In the past year, the share of cryptocurrency job postings per million on Indeed.com has increased by 26%, while the share of searches per million for jobs has decreased by 53%. Bitcoins volatility seems to correlate with job seeker interest, and the change in Bitcoin price this year might be why job searches have declined.

Employers, however, are doubling down on the technology, which uses decentralized ledgers to produce secure and transparent transactions.

So employer demand for tech roles related to Bitcoin, blockchain, and cryptocurrency is high but what are those jobs?

From coding smart contracts to designing user interfaces for cryptocurrency apps to building decentralized applications (dApps) that communicate with the blockchain, theres no shortage of work to be done in the cryptocurrency field.

For a better chance at landing one of these roles, you should be a programmer. And you should familiarize yourself with basic cryptography, P2P networks, and a language like C++, Java, Python, or JavaScript (along with certain soft crypto skills).

To stand out, you should learn new blockchain development languages, like Hyperledger, Bitcoin Script, Ethereums Solidity, the Ripple protocol, or even languages currently in development like Rholang.

The top hirers are as follows: Deloitte, IBM, Accenture, Cisco, Collins Aerospace, Ernst & Young, Coinbase, Overstock, Ripple, Verizon, Circle, Kraken, ConsenSys, JP Morgan Chase, and Signature Bank.

Software roles make up the highest percentage of cryptocurrency jobs. Since blockchain technology has expanded well beyond the financial sector, youll see a sprinkling of crypto startups, but also bigger, more established firms not directly related to cryptocurrencies (or even the financial industry at all).

Two of the Big Four accounting firms make the top 10, along with tech giant IBM. Why? Earlier this year, EY launched a new cryptocurrency tax accounting tool for investors, and consulting firms are hiring blockchain talent to advise clients on how to apply these new technologies. IBM is also making waves with IBM Blockchain World Wire, a blockchain network that clears and settles international payments in near real time.

Not surprisingly, five companies related to cryptocurrency Coinbase, Ripple, Circle, Kraken, and ConsenSys made the list. Only ConsenSys made the top 10 in the previous list of Bitcoin hirers from May 2019.

Financial companies are hiring a lot of blockchain and cryptocurrency talent and are designing their own dollar-backed digital coins. Signature Bank (No. 15), for example, built its own blockchain platform, Signet, to allow its clients to move money around in 30 seconds, 24/7 by converting dollars to Ethereum-based tokens known as Signets.

Given blockchains potential, companies outside the traditional finance ecosystem are starting to adopt it for use in supply chain management, ecommerce, telecommunications, and beyond.

Collins Aerospace (No. 5), for example, is an Iowa-headquartered company that provides solutions for the aerospace and defense industries. Its using blockchain technology to make complex global supply chains more efficient and to protect defense and space-related data from cyber attacks.

Another company you might not expect to be hiring a lot of cryptocurrency talent is online home goods retailer Overstock.com (No. 8). However, this makes sense because it was the first major retailer to accept Bitcoin as a form of payment, starting back in early 2014. The company now accepts all major cryptocurrencies and has since founded a venture capital arm, Medici Ventures, to accelerate blockchain innovation.

As Bitcoin, blockchain, and the cryptocurrency industry continue to enjoy rapid growth and widespread adoption, companies of all sizes and from all industries have been ramping up hiring over the last year.

That trend is likely to continue through 2020, even in the face of extreme price volatility and regulatory uncertainty around cryptocurrency.

And while Bitcoin and other cryptocurrencies might currently function more like assets than true currencies (theres not much you can actually buy with them), thats changing as major retailers begin accepting digital tokens and more unique use cases for these technologies pop up.

With employers investing heavily in Bitcoin jobs and cryptocurrencies becoming more accepted and accessible, blockchain tech appears to be here to stay, Indeed found.

Indeed.com analyzed the percentage change in the share of job postings and share of job searches per million for roles related to Bitcoin, cryptocurrency, and blockchain during the time period specified.

The most in-demand roles related to cryptocurrency were identified by calculating the percentage of job postings related to Bitcoin, cryptocurrency, and blockchain during the specified time and ranking them in order based on the percentage of job postings for those roles from October 2018 to September 2019.

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Indeed: Share of cryptocurrency jobs grew 1,457% in 4 years - VentureBeat

Tax agencies around the globe continue to crack down on cryptocurrency users. A new joint report by the IRS and other agencies confirm there are new tools being deployed to identify tax evaders, cybercriminals, and other culprits.

For some time now, the Joint Chiefs of Global Tax Enforcement have been working together.

This unit consists of the IRS, as well as officials from the UK, Canada, Australia, and The Netherlands.

All of these tax agencies share one common goal tracking down tax evaders and cybercriminals.

In the past two years, part of the focus of these investigations has shifted to the cryptocurrency industry. Particularly for the IRS, Bitcoin and altcoins have given the agency quite a few headaches.

For the IRSs cybercrime unit, the goal is to find out who is moving money at any given time. With cryptocurrencies and their pseudonymity, that is much easier said than done.

New tools have been put in place which were not around in the past year.

Through these new methods, the IRS has identified a lot of cybercriminals and cryptocurrency users trying to evade taxes.

Additionally, the IRS has confirmed it will conduct additional cryptocurrency audits fairly soon.

That move doesnt come as a surprise, as the agency sent out thousands of letters to cryptocurrency holders in the first half of 2019.

Those letters served as a final warning of sorts to ensure traders file their taxes properly.

What kind of repercussions wrongdoers can expect, remains up in the air. The Joint Chiefs of Global Tax Enforcement appear adamant about making a statement regarding this matter.

Image(s): Shutterstock.com

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The IRS Confirms a new Wave of Cryptocurrency Audits is Coming - The Merkle Hash

While many representatives of the worlds financial system have been consistently deprecating Bitcoin and cryptocurrencies, Jean-Claude Trichet, the former European Central Bank (ECB) president, dismissed the idea of cryptocurrencies as pure speculation.

While Trichet is the latest in a crowd of regulators and lawmakers to have expressed his opposition to cryptocurrencies, the anti-crypto sentiment has grown louder since Facebook revealed its plans for their own currency.

As for its price, Bitcoin seems to be in the beginning of a new long-term upward cycle with the potential of reaching a new all-time high within the next two years.

Even in the world of cryptocurrency, there are several prominent bears. Cryptocurrency trader Crypto Dude recently tweeted an extremely bearish Bitcoin price prediction going against the current bullish enthusiasm on Crypto Twitter.

This is a long-term prediction suggesting that the Bitcoin price will fall between $900-$1400, the heights of the 2013 upward move. Lets take a closer look and see how likely this is.

The ascending support line in the tweet is drawn beginning on July 2016. The line was validated three times throughout 2017 before the price broke down the next year. The current upward move ending on $13,864 validated this line as resistance and the price has been decreasing since.

There are several drawbacks to relying on this trend-line.

If we instead use a curved support line, we can outline the support line the BTC price has been following since 2011. If the price indeed drops to $1000, it would break this trend-line.

While this does not mean the price will not break down, very strong support would have to be broken for it to occur.

Also, the technical indicators suggest that we are in the beginning of a new upward trend, rather than at the beginning of a correction.

The weekly RSI has been oversold only twice in BTCs price history:

At both these times, the price has just reached the 200-week moving average, adding further credence to the possibility that the price will act in a similar manner.

Also, the price has never traded below the 200-week MA. For the price to reach $900-$1400 as indicated in the tweet, it would have to do so.

Another indication about the future prospects of Bitcoins price comes from halving.

Prior to the first and second halvings, the Bitcoin price consolidated in the months leading to the event before the rate of increase accelerated.

If the Bitcoin price does the same this time, it will trade around $8000 until May before initiating a rapid move.

We would expect a price of around $100,000 between 2021-2023.

Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.

Images courtesy of TradingView.

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Bitcoin Could Fall to $900, Claims Analyst - BeInCrypto

Einstein Exchange, in the building at 736 Granville St. in downtown Vancouver, has been taken over by a receiver.Francis Georgian / PNG

When clients of Einstein Exchange discovered last weekend that the website of the Vancouver-based cryptocurrency trading platform had gone dark, many feared they had fallen victim to the latest QuadrigaCX.

The distressed customers were referring to the case of another B.C.-based exchange that earlier this year left some 115,000 clients out of pocket for $260 million in cryptocurrencies and cash in what some termed an exit scam by its late founder and CEO.

This latest case of a crypto exchange leaving millions of its clients dollars in question has investors, regulators and experts warning people to be careful when using exchanges, and calling for clearer oversight of the industry.

This week Einstein clients learned interim receiver Grant Thornton Ltd. had entered and secured the companys premises on Friday to preserve and protect the assets of the company, which owes customers more than $16 million, according to the B.C. Securities Commission.

Kyle Dulay counts himself as lucky among Einsteins customers. The Vancouver man only had a couple hundred dollars in bitcoin on the exchange at the time its site went down. Dulay told Postmedia he had the bulk of his cryptocurrencies in cold storage safely held offline on a piece of hardware rather than held at the exchange.

Lisa Lan, a Burnaby resident, said she had intended to transfer about $3,250 in cryptocurrencies from Einstein to cold storage on the very day the companys website went down. I just missed it by hours, she said.

Lan recommended people do their research and due diligence and remove their cryptocurrencies from live exchanges. Dulay said there should be regulations that govern how exchanges store and use their customers digital assets.

The Securities Commission opened an investigation into Einstein in May after it received complaints that people were unable to access their funds, according to court documents filed by the commission on Nov. 1.

Among those documents was an affidavit that alleged Einstein had improperly used its customers assets. That affidavit, sworn by Sammy Wu, a lead investigator for the Commissions enforcement division, also stated the commission had received complaints that raised concerns about potential money laundering.

The claims have not been tested in court.

Chris Rowell, a post-doctoral research fellow at the University of B.C.s Sauder School of Business, said that crypto assets were initially intended to exist and be used outside of the traditional economy. But they eventually came to be viewed as investments that people buy and sell. It is at the intersection of these two worlds, where there is a regulatory grey area, that problems are being seen, he said.

When asked about the regulatory picture in this province, Peter Brady, the executive director of the Securities Commission, said the lack of clarity around cryptocurrencies is a fundamental issue and said more needs to be done.

B.C. residents need to be really, really careful in this space. It is high risk. Not one of these exchanges has yet been recognized by BCSC or any other securities regulator. Their assets may not be protected. They cannot be assured that their transactions are going to happen, he said.

On Oct. 31, counsel for Einstein told the commission that the company planned to shut down due to lack of profit, but that it had sufficient crypto assets to fill withdrawal requests from its customers, according to Wus affidavit. That same day Wu demanded Einstein, through its lawyer, provide information on the location of its cryptocurrencies.

Two hours later, Einstein counsel notified me that they no longer represent Einstein, read the affidavit.

Einstein Exchange did not respond to a request for comment and Michael Gokturk, the companys director, could not be reached. Christine Duhaime, a Vancouver-based financial crime lawyer who has served as the exchanges lawyer, said she could not discuss the file without the companys consent. Duhaime said she was not the lawyer referenced in the affidavit.

In the QuadrigaCX case, company founder and CEO Gerald Cotten had died, taking with him the passwords to the companys cold wallets.

Cottens widow, Jennifer Robertson, recently entered into a voluntary settlement agreement that includes the transfer of about $12 million in assets from Cottens estate to the company.

With files from Bloomberg.

mrobinson@postmedia.com

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Vancouver-based cryptocurrency exchange latest to shutter with millions owing to clients - Vancouver Sun

China has started with a friendly warm-up towards cryptocurrency, and therefore NEO (NEO), VeChain (VET), and Ontology (ONT) continue to surge. Several Made in China cryptocurrencies are rallying now.

Jeremy Allaire talked about how economic transactions can take place without Gatekeepers to be a promise of cryptocurrency.

VeChain is experiencing meteoric growth with a 10% to 13% increase over the past 24 hours. President Xi Jinpings phenomenon continues to do its magic irrespective of whether he spoke about blockchain technology or cryptocurrency. The then triggered bullish rally continues to date.

VeChain Thor Public blockchain provides the best resource to anybody willing to sort real-world economic problems.

The VeChain application hub provides an application built on the VeChain Thor Blockchain. The ecosystem benefits by collective value creation.

The advisory board members power the immense wisdom backing the design, implementation, and vision of VeChain. Third-party wallet support is provided by Comet, Trust Wallet, Cobo Wallet, Atomic Wallet, ArKane Network, MySafeWallet, and Guarda Wallet.

Developers have the freedom to provide for a full play to creativity.

The Capital Event, which was organized in Singapore on November 11, 2019, provided for improved networking. There is a formation of a rising wedge pattern. The price went up to $0.0065, and this was after stepping above the 100-day SMA. The crypto adjusted to $0.006050, and the bulls continue to hold on to the 14% growth in value.

The formation of a rising wedge pattern is a sign of danger. The gains accrued so far might be erased off if the buyer momentum is not sustained. Support areas might be at 100 SMA, 50 SMA, and significant support might be seen at $0.0020.

A week ago, VeChain unveiled Floodgates at the Import Expo in China, providing for a Food Trading Solution.

Kevin Feng, VeChain COO, stated, The immutability of public blockchain coupled with verifiable information makes this solution unique.

Floodgates have already been put to work in the process of importing French Beef to China for an event, which was attended by Emmanuel Macron, French President, and Chinas Xi Jinping.

The technology has expanded to several industries in the food industry, and businesses provide for tracking everything from Coffee to Lettuce.

Emmanuel Macron, the president of France, attended this event when he arrived in China to discuss diplomatic relations between the countries.

VeChain Thor being a Blockchain-as-a-Service company focuses on creating a reliable and distributed business ecosystem.

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Your Economic Transactions without Gatekeepers is the Promise of Cryptocurrency - The Cryptocurrency Analytics