Bitcoin tops $30,000 for first time since April. Here’s why it’s shaking off a regulatory crackdown.

Bitcoin
BTCUSD,
+2.67%
surged above the $30,000 threshold on Thursday morning for the first time since April, when it hit a yearly high of $31,000, according to CoinDesk data.

The crypto was back down to $29,777 just before midday, a decline of 0.5% over the past 24 hours. But it’s up more than 13% so far this week and nearly 80% for the year to date.