Bitcoin's Surge Past $30,000 Sparks Speculation of Another Crypto Boom.

Bitcoin has surged past $30,000, but the crypto industry is still recovering from the scandals and bankruptcies of last year. Regulatory scrutiny and high-profile enforcement actions have drawn attention to alleged wrongdoing, and the failure of crypto-friendly banks has made the future of the industry uncertain. Investments from venture-capital firms have slowed dramatically, and many retail investors are still licking their wounds. However, progress in the evolution of the industry has continued, with Ethereum completing a successful upgrade to its network. The macro picture has also changed, potentially for the better, with the end of the Federal Reserve's tightening cycle. The "show me" threshold will be higher this time around for institutional investors, considering the role crypto is meant to play in a portfolio is a moving target.