Binance CEO Changpeng Zhao: The volatility of Bitcoin is consistent with most asset classes.

Binance CEO Richard Tan said on Friday that the significant drop in the price of Bitcoin over the past month is a result of investors deleveraging their cryptocurrency positions and increasing risk aversion in the market, which is in line with the performance of most major asset classes. As the world's highest market-cap cryptocurrency, Bitcoin has fallen by 21.2% in November and its decline over the past three months has expanded to 23.2%. Currently, the possibility of its year-end price falling below $90,000 is increasing. Just in early October this year, Bitcoin hit a historic peak of over $126,000. Tan said at a media roundtable in Sydney on Friday, "Like any asset class, cryptocurrencies always go through different cycles and volatility. The fluctuations you are currently seeing are not only happening in cryptocurrency prices."