I look forward to your reports every week @jademont! It is hard to get any reputable news in the US about the Chinese crypto market. The rumors here would have you believe the 10th or the 14th all Chinese exchanges will be back to normal.

Rough English Translation

Introduction

The annual National Day is attached to the Harvest Festival, the longest 8 days. The government coins and leaks in the previous months led to anxiety about the state of crypto in China. We can finally relax a little. The market is slower, fewer transactions. Regulators are on holiday, so new policies will be announced for a few days. Tomorrow is the last day of the fall break, the day after tomorrow they return to work. There may be further news at that time, I’m not sure. Personally think that the 19th discussion hasn’t begun and I don’t think there will be a policy announcement before or during the discussion on the 19th. I expect calm until the end of October, before that is just waiting for decisions.

Global Blockchain Index (Month Perspective)

There is no difference from the prior week, the market is still in shock, so neither bull or bear. Everyone is waiting for news and the last exchanges to close have days. The index is jumping up and down, but same trend. In addition to the policy waiting game there is BTC hardfork in November, Segwit2x, making there be 3 bitcoins, BTC, BCH, B2X. Policy news expected at end of October, 2x hardfork in November. As far as prices outside of BTC and ETH, altcoin prices are overall down, you could say miserable. Some down 60-80% from ATH. It could be said alts are in a bear market.

Observation of coins

1. BTS-With Bittrex delisting BTS without a given reason, it caused some FUD surrounding BTS. This inspired some FUD articles that the USA SEC demanded the removal of BTS due to it being a security and bittrex is not licensed to offer securities. The investigations of the SEC haven’t named BTS and there isn’t much to support this conclusion but a series of articles that all point to each other. Pure speculation and the motivation for it is unclear, strange.
2. Bitcoin and the hardfork, in November there will be BTC, BCH, and B2X, each with different interests. We will continue watching this progress but without issue, then a variety of hardforked coins will exist.
3. The ICO bull market is coming to end with the nonsense of selling clothes, cake, wine, money transfers, and MLM. Completely over. There is a little rusk to help purchase foreighn ICO or offline trading of crypto with a little transfer fee. Regardless of outcome, there will still be work maintaining the final part.
4. There is speculative news that the state will gradually lessen control on exchanges and establish a central domestic exchange. There is no way to know if this is true or false, but it makes sense to end the competition prior to launching a central exchange. Completely eliminating their competition is impossible and the major exchanges have moved overseas, become foreign companies and the regulators can’t do anything about it. It would’ve been better to keep our exchanges domestic and make transparent regulations. I’m hopeful this news is true because it will bring back the bull market.
5. The major exchanges have telegram groups that launched a few days before the uproar, mainly foreign parties are active in the channels, because of the necessary safeties to get through the firewall with proxies. The coin community is really silent and even smaller groups are talking less and losing people.
6. The regulation of the most influential projects such as icoinfo and the etherparty, would’ve been an issue, but because they’re foreign projects, the progress is slow but still occurring. The regulation slowed the funding, indicating there were mostly Chinese people investing.
7. Before ICO, the crypto projects were seriously different, the lack of funds made them stagnate on R&D. With the ICO ban bringing that back due to the risks, those that misappropriated the funds, some that returned funds, and the lack of progress and so on. These are real issues. A standard comparison, everyone knew these issues and should know to pick a real, solid project. For example, Cybex (?) closed beta has already begun and BTS is very close, that’s exciting. YOYOW R&D is moving quickly, the platform delivery is on schedule successfully. Bitindia is also good, with gradual, sustained development. There are many good projects to be eplored, but these are the ones I think are promising in the long run with it likely the projects will be followed through on.