Litecoin climbs for first time in four days on short-covering

Litecoin rose three percent, or nearly $2 on Thursday on short-covering, after sustaining heavy losses recently and testing $60 yesterday, plumbing November 2017 lows, amid an extended selloff wave that continues to sporadically hammer cryptocurrencies. 

Litecoin rose 3.06% to $64.042 as of 06:01 GMT, with a session-high at $64.047, and a low at $62.036. 

SEC Delays Crypto ETF Decision 

The U.S. Securities and Exchange Commission (SEC) has delayed its final decision on requests to set up bitcoin exchange-traded funds to late September, in another development that upset crypto enthusiasts in the States. 

The SEC stated: "The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change. Accordingly, the Commission, ... designates September 21, 2018, as the date by which the Commission shall either approve or disapprove the proposed rule change."

The Path of Litecoin 

Litecoin was first publicly offered in the first half of 2013 at only $3, marking record lows at below $1 in early 2015 before taking off on its long and spotted journey higher. 

The cryptocurrency pierced $100 for the first time on November 29, 2017, before scaling a record high at $370.78 on December 19, and plummeting back below $100 on June 12, moving on to $72.503 on June 29.