Bitcoin plummeted

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.

Source: Coindesk

Now bitcoin is crashing along with the drop in technology stocks Now bitcoin is crashing along with the drop in technology stocks
Monday, 12 Jun 2017 | 4:15 PM ET | 00:41
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."

Bitcoin climbed above the psychologically key $3,000 level Sunday to hit a record high of $3,041.36, according to CoinDesk. The gains were helped by news that several major Chinese bitcoin exchanges were allowing withdrawals of the currency after a months long hiatus.

However, a sharp move lower Monday afternoon ET illustrated how volatile the crypto-currency can be.

Bitcoin suddenly dropped more than 16 percent on the day to $2,532.87 before recovering slightly, CoinDesk data showed. The digital currency recovered to trade near $2,721 shortly after 9:00 p.m.

Where do you guys see BTC a month from now?