SYDNEY / LONDON (IT BOLTWISE) – Bitcoin’s recent volatility reflects the uncertainties currently shaping global markets. Binance CEO Richard Teng explains that the cryptocurrency’s decline is in line with investors’ general risk aversion. Despite the losses, Bitcoin remains strong compared to previous years.
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Bitcoin’s volatility has once again caught the attention of the financial world in recent months. Richard Teng, the CEO of Binance, one of the world’s largest cryptocurrency exchanges, recently commented on the fluctuations, emphasizing that they are in line with movements in other major asset classes. Bitcoin’s over 21% decline in November is seen by many as a response to general risk aversion and deleveraging of investor portfolios.
Bitcoin, the most popular cryptocurrency, hit an all-time high of over $126,000 in October before suffering a significant decline in November. According to Teng, these fluctuations are not unusual and reflect the cyclical nature of financial markets. He emphasized that such periods of consolidation are healthy for the industry as they give markets an opportunity to stabilize and reorient themselves.
Another factor affecting markets is concern about a possible artificial intelligence bubble triggered by inflated valuations. Despite positive company figures from NVIDIA, investors remain cautious. Teng highlighted that despite recent losses, Bitcoin is still trading at more than double what it was in 2024, when institutional investors like BlackRock began entering the crypto market.
The future of Binance also remains a topic of interest, especially following the pardon of Changpeng Zhao, the exchange’s founder, by former US President Donald Trump. Zhao, who was convicted of violating U.S. money laundering laws, remains influential as Binance’s major shareholder. Teng works closely with the board to shape the company’s strategic direction.
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