Bitcoin Price Prediction as Crypto Exchanges Announce 1,200 Job Openings – Will BTC Pump Higher?

Forex
May 26, 2024
0

Bitcoin Price Prediction

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

Meanwhile, the cryptocurrency industry is experiencing a surge in hiring, with over 1,200 job openings across 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 over 1,200 job openings. This hiring surge reflects the industry’s optimism, anticipating Bitcoin surpassing its March record high, the launch of spot Ethereum ETFs, and increased 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 are in a bull market like never before — there’s going to be a lot of work for us from a recruiting perspective,” he told DL News.

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

Leading Crypto Exchanges Hiring:

Binance: Filling 460 roles, emphasizing compliance, user-focus, and innovation.Coinbase: 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 with 414 positions, enhancing finance, HR, and fraud risk departments.Crypto.com: With 335 openings, hiring strategically to support its growing market share.Bitget: Looking to fill 106 roles, especially in marketing and web3 development.Bitstamp: Six openings, including legal counsel and compliance officer.KuCoin: Nine positions, including senior compliance roles in Turkey and France.Gate.io: Despite regulatory challenges, hiring for 37 positions.HTX: Seven openings, focusing on operations in Russia and compliance in Hong Kong.

Impact on Bitcoin: The surge in hiring by 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 may see heightened demand and potential price appreciation.

Bitcoin Price Prediction

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

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

The Relative Strength Index (RSI) stands at 56.26, indicating neutral momentum. The 50-day Exponential Moving Average (EMA) is at $68,747, suggesting that 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 towards $67,000 and $65,900. The RSI and EMA indicate a neutral trend, so careful monitoring of these levels is advised for potential trading opportunities.

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