Price hopes in the prestige Tam­arama apartment market appear to be waning – and Australia’s cryptocurrency king Fred Schebesta is right amid the widening asset market ­tumult.

He foreshadowed the listing of his redundant penthouse in June, suggesting it was worth more than $7 million when he signalled he would sell to plough more into bitcoin.

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Fred Schebesta hopes for a big sell off in Tamarama are waning. Picture: Jane Dempster/The Australian.

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By July the colourful tech ­tycoon Fred Schebesta had appointed Conrad Panebianco of Raine & Horne to market the Wonderland Avenue beachside residence with $6.5 million price expectations.

This week that guidance was dropped to $5.8 million.

The contemporary three-bedroom, two-bathroom property with two ­balconies plus pool , cost $3.9 million in 2017.

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This view is getting cheaper.

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The Wonderland life.

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Michael Murray at Murray Property had it up for rental at $2950 per week mid-last year.

The Finder.com co-founder is holding on to his grand waterfront, which he’s dubbed the Coogee Crypto Castle which cost $16.85 million in May last year.

5/17 Wonderland Ave, Tamarama.

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It’s available on Airbnb at $25,000 a night.

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