Overview of Litecoin

  • Litecoin, one of the top 7 ranking cryptocurrency can be traded on Bityard using “The Bityard contract trading, spot exchange, and copy trade”, This enables investors to make more profit even in the slightest movement of the price (contract trading), or by the immediate exchange of Litecoin (at the current market price) to another coin within a given period of time (spot trading).
  • Litecoin is among the top ten cryptocurrencies by market cap, giving it added value and long term value, and is part of the reason why LTC price predictions can go so high – the assets listed in the top ten are often the most promising projects in terms of estimated growth and projected value, making them sound investments in what is otherwise a risky market.
  • Litecoin has proven time and time again that it’s a good investment, and given the technical signals and fundamental strength, and the fact that the asset is coming out of an extended bear market and building a strong base, Litecoin is poised for another uptrend, making it an excellent investment and not just a good one.
  • Litecoin has a block time of 2.5 minutes, meaning that it mines blocks full of transactions four times as often as bitcoin.[6] Also, litecoin uses a hashing algorithm called Scrypt, which was designed to make mining more “democratic” by making it easier for more traditional CPUs to mine the digital currency.[2]
  • Litecoin Contract trading is a type of strategic trading whereby investors are allowed to trade in any direction of the cryptocurrency securities (Litecoin) in other make a profit based on the settled price difference between the opening and closing trade prices without actually holding the asset (Litecoin).
  • Litecoin (LTC) is an open-source Decentralized peer-to-peer cryptocurrency that enables secured instant transaction with almost near-zero cost of payment, Litecoin is an early bitcoin spinoff (Altcoin), it’s considered to be an advanced form of Bitcoin with an average block-time of 2.5 minutes.
  • Litecoin is set up to pump out four times as many coins as Bitcoin to keep it from becoming scarce and too expensive; processes transactions quickly, and lets regular folks mine coins (provide the online currency system with the computing power it needs in exchange for digital money).60
  • Litecoin’s market-leading performance will have undoubtedly piqued the interest of many crypto investors, and it’s possible that we could see more money pile into this digital asset—especially if Bitcoin’s rally starts to run out of steam.
  • Litecoin was released via an open-source client on GitHub on October 7, 2011 by Charlie Lee, a Google employee who later became Engineering Director at Coinbase.[2][3] The Litecoin network went live on October 13, 2011.
  • Litecoin is an open source software project released under the MIT/X11 license which gives you the power to run, modify, and copy the software and to distribute, at your option, modified copies of the software.


The fact that litecoin has a faster block time than bitcoin makes it so that the former cryptocurrency has a greater bandwidth for processing transactions than its digital sibling and is able to confirm transactions more quickly.[1] This particular benefit has helped litecoin stand out at times, particularly when bitcoin has struggled with scaling problems.[7]


Because the code of these two cryptocurrencies is so close, litecoin has frequently served as a testing ground for upgrades that could later be implemented on the bitcoin network.[5] For instance, Litecoin implemented “Segregated Witness,” an update that allows individual blocks to hold more transactions, before bitcoin.


This Litecoin price prediction guide will help investors make an informed decision if Litecoin is right for them, help them understand if Litecoin will rise as Bitcoin has in the long term, and provide an all-around Litecoin forecast that will help to determine what could Litecoin be worth in 10 years.


If you have read our “what is Litecoin?” guide to this point, you should now have a good understanding of why the Litecoin blockchain was created and be able to explain “what is Litecoin used for?”.


Litecoin also has strong support in the development community, and is often used as a testbed for other digital currency projects, due to how much developer activity the crypto asset has, and due to how simple it is to work with.


This provides protection from wallet-stealing viruses and trojans as well as a sanity check before sending payments. Wallet encryption allows you to secure your wallet, so that you can view transactions and your account balance, but are required to enter your password before spending Litecoins.

History of Litecoin

  • In 2014, Dash, a competing crypto-currency, split from the Litecoin blockchain.
  • In 2017 Litecoin reached its all-time high of $360.66 before falling back down to roughly $20 before bouncing back higher ahead of the halving in 2019.
  • In 2017, Litecoin adopted “Segregated Witness,” a technology that helps cryptocurrencies add more transactions into each block.
  • In 2018, Litecoin suffers a new crash like the whole cryptocurrencies market and its price will fall back to a low of around 25 dollars on December 15, 2018.
  • In 2018, the Litecoin foundation purchased a 10% share in WEG bank AG.
  • In 2019, Litecoin creator Charlie Lee announced that Litecoin will be planning for private transactions using the Mimblewimble protocol (popularized by Grin and Beam).
  • In 2019, Litecoin started in a bull market and its price climbed to $145 in June 2019.
  • In 2020, it fell back to under $40.
  • In 2020, Litecoin has rallied over 140%, despite a deep retracement cut the asset back down to roughly $50 per LTC.
  • In 2021, altcoins posted strong gains amid growing retail demand.