Crypto update, March 20 -- The price of Bitcoin neared the $86,000 level on March 20 after United States Federal Reserve's rate decision sent markets soaring.

The rise was supported by the US Fed decision and news that the US Securities and Exchange Commission (US SEC) had officially dropped its lawsuit against Ripple Labs.

During the early hours today, on March 20, Bitcoin briefly touched the $87,299 level at 5.50 am, but soon settled close below $86,000.

At 10.10 am, the world's biggest cryptocurrency was at $85,596.80 - up 3.18 per cent from the previous day, according to data on Coinmarketcap. The market capitalisation of Bitcoin was at $1.69 trillion, with trading volume recorded was at $35.82 billion over the past 24 hours.

The ...