The price of bitcoin has suddenly surged as investors, nervous about the banking crisis, stash their money in crypto.About $100 billion has been added to the crypto market in the past week as bitcoin, ethereum and altcoins like solana and cardano rocket higher.The world’s most popular digital currency, bitcoin, was selling for $A42,060 ($US28,204) this morning, up 14 per cent for the week. It’s in the green by a massive 72.16 per cent so far this year.On the back of the surge, Binance CEO Changpeng ‘CZ’ Zhao wrote on Twitter: “bitcoin almost died, but...”It marks more volatility in the crypto sphere after massive swings in the price of major coins.Despite the surge, the price of bitcoin is down 33.22 per cent over the past 24 months. And it’s still way under the peak price of $A87,843 – which it reached on November 2021.Over the past year, crypto has been battered by calamitous events including FTX going bankrupt, the collapse of crypto hedge fund Three Arrows Capital and the downfall of crypto lending platform Celsius.US bank Silvergate Capital, which was heavily involved in the crypto space, also went into liquidation.But bitcoin has been making a comeback in recent weeks and surged after a series of disastrous headlines about the global banking industry.