The head of the cryptocurrency exchange Binance believes that a sharp drop in cryptocurrencies is a normal situation

Binance CEO Changpeng Zhao said that fluctuations in the cryptocurrency market are common. Zhao said this in an interview with Bloomberg Markets.

«It's normal for markets to go up and down. We see it in the stock markets. Netflix also fell by 70%. This is part of normal market behavior. And this is not the first bear cycle that Binance is going through. For me, this is the third,» Changpeng Zhao said.

Zhao emphasized that the Binance crypto exchange is ready for any market downturns. The words of the Binance director can reassure both crypto investors and employees who hear about new problems on exchanges every day. Some exchanges have been forced to lay off employees, while others have temporarily suspended operations.