Player disappears when above block 256

I was flying upwards in third person mode, I reached block 256 and I disappeared. I went into first person and I could still see my arm so I believe this is a bug.

What I expected to happen was...:
When I reached block 256 I should still be able to see myself.

What actually happened was...:
Instead, I disappeared.

Steps to Reproduce:
1. Go into creative and third person view.
2. Fly up to block 256.
3. Now go into first person.
4. Notice that you disappear when you are in third person but you can still see your arm in first person.