Cryptocurrency prices were up Tuesday, with Bitcoin at $3,500, just one year after reaching nearly $20,000.
Bitcoin rose 3.5% to USD 3,539.60 on the Investing.com index at 9:07 am (ET) (2:07 pm GMT).
However, Bitcoin is down by nearly 75% from its highest level in history last year. Cryptocurrencies have dropped considerably in recent weeks, as traders worry about increased regulatory surveillance and volatility.
Cryptocurrencies were on the rise overall, with a total market capitalization of $112 billion at the time of writing, up from $108 billion on Monday. Seems that people are back on the market for bitcoin!
Ethereum, or Ether, increased by 5% to $94.66 and Litecoin is at $29.20, up 3.9%, while XRP jumped from 12% to $0.33607.
Despite the long-term decline in crypto prices, the blockchain seems to be thriving. Employment opportunities in the sector are booming, with 33% more jobs in 2018 than in the previous year, according to LinkedIn’s 2018 Emerging Jobs Report.
“It is not surprising that we are witnessing an explosion of auto-learning roles and a continuous growth of data science roles… It may not shock you that Blockchain Developer is at the top of the list after this year’s renewed interest in blockchain and crypto-currency,” the report says.
In other news, China is creating its own cryptocurrency. The People’s Bank of China has registered 78 crypto-currency patents since 2016, Bloomberg said. The central bank has also recruited developers and economists for its Cryptocurrency Institute, created to issue a blockchain-based coin.
The government also wants not only to track its citizens’ transactions, but also to require banks to share borrower data before authorizing any transaction, according to Bloomberg. The central bank could also prohibit any financial company from dealing with blacklisted companies, according to patents examined by Bloomberg.