Investing enthusiasts descended on Sydney’s Internation Convention Centre (ICC) at Darling Harbour for CryptoCon. It billed itself as the Southern Hemisphere’s largest crypto and blockchain event — a deep-dive into Australia’s emerging crypto economy and, of course, networking. It’s been a wild market ride for Bitcoin traders these past few months. The cryptocurrency hit an all-time high in October, but then sentiment was rocked when Donald Trump announced an extra 100 per cent tariff on Chinese goods, creating anxiety in financial markets. The price of bitcoin plunged and is now down roughly 30 per cent since its peak.
Indebted investors have been forced to sell out following margin calls and an exodus of cash from exchange-traded funds has accelerated the slump.
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