Bitcoin Price Forecast as Crypto Exchanges Announce 1,200 Job Openings – Will BTC Rise Further?

Last updated: May 26, 2024 05:15 EDT | 3 minutes reading

Bitcoin Price Prediction

Bitcoin (BTC/USD) is currently trading at $69,088, reflecting a slight decline of 0.33%, signaling a bearish forecast for the price of Bitcoin.

Meanwhile, the cryptocurrency industry is experiencing a hiring surge, with more than 1,200 job openings at major exchanges like Binance, Coinbase, and OKX. This hiring spree highlights the industry’s optimism despite Bitcoin’s recent price fluctuations.

Crypto Exchanges on a Hiring Spree: Over 1,200 Job Openings

One of the largest cryptocurrency exchanges, led by Binance, Coinbase and OKX, has more than 1,200 job openings. This surge in hiring reflects industry optimism in anticipation of Bitcoin surpassing its March record, the launch of Ethereum ETFs in sight, and the rise in venture capital investments this year.

Sam Wellalage, founder of WorkInCrypto.Global noted the unprecedented bull market and stated that crypto companies are eager to capitalize on the growth.

“We’re in a bull market like never before – there’s going to be a lot of work for us from a recruiting standpoint,” he told DL News.

This move follows two years of job cuts, with 13,500 crypto workers laid off since April 2022.

Hiring Leading Cryptocurrency Exchanges:

• Binance: Filling 460 roles, emphasizing compliance, user focus and innovation.
• Coin base: Lists 224 roles, focusing on legal, compliance, finance, and accounting.
• Bybit: Despite regulatory setbacks, hiring for 69 positions in sales, marketing and engineering.
• OKX: Expanding to 414 positions, improving finance, HR and fraud risk departments.
• Cripto.com: With 335 vacancies, hiring strategically to support its growing market share.
• Bitget: I plan to fill 106 roles, especially in marketing and web3 development.
• Bit stamp: Six vacancies, including legal consultant and compliance director.
• KuCoin: Nine positions, including senior compliance roles in Türkiye and France.
• Portão.io: Despite regulatory challenges, hiring for 37 positions.
• HTX: Seven vacancies, focusing on operations in Russia and compliance in Hong Kong.

Impact on Bitcoin: The increase in hiring best crypto exchanges indicates strong industry growth and investor confidence, which could positively impact Bitcoin prices.

As exchanges expand their teams to support increased market activity, Bitcoin could see increased demand and potential price appreciation.

Bitcoin Price Prediction

Bitcoin (BTC/USD) is currently trading at $69,088, reflecting a slight decline of 0.33%, signaling a bearish Bitcoin Price Prediction. The green line, which represents the pivot point at $68,747, is a crucial level in determining the next price movement.

Immediate resistance is at $70,000, followed by $71,500 and $73,000. On the downside, immediate support lies at $68,500, with additional support levels at $67,000 and $65,900.

The Relative Strength Index (RSI) is at 56.26, indicating neutral momentum. The 50-day exponential moving average (EMA) stands at $68,747, suggesting this level provides significant support.

Bitcoin Price Prediction

Given the current price action around the pivot point, traders should watch for a break above $70,000 for a bullish continuation, targeting $71,500 and $73,000.

Conversely, a drop below $68,500 could lead to further declines to $67,000 and $65,900. The RSI and EMA indicate a neutral trend, so careful monitoring of these levels for possible trading opportunities is advised.

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