- Bitcoin topped $3,000 for the first time Sunday.
- But the digital currency suddenly dropped Monday afternoon ET, erasing about $500 in value as multiple bitcoin exchanges reported problems.
- Bitcoin remains more than 150 percent higher year to date.
Bitcoin suddenly plummeted Monday, amid increased worries that the young digital currency system is growing too quickly.
The decline came as major U.S. technology stocks fell for a second straight day on concerns that the sector has risen to unsustainable levels.
At least two major bitcoin exchanges also had problems, while a new blockchain project raised a record high level of funds Monday.
"We are seeing greed being exhibited in the open," said William Mougayar, author of "The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology. "This is not good for the overall ecosystem. Eventually, something more normal will prevail."
http://www.cnbc.com/2017/06/12/now-bitcoin-is-crashing-along-with-the-drop-in-technology-stocks.html