ETH was mere $20 until last year. A growth of 1 year to $1100 was sure to get breakdown at one point of time, and now is that time. Not all ICOs are officially out of ETH. There is huge Dumping still remaining.
The only reason for Ether’s growth last year was ICO funding and when these ICOs want to liquidate their funds into real money, ETH had to come down, without a doubt.
The GAS used in the ether network DOES NOT necessarily have to be in ETH, it can be in any ERC20 token if the miner agrees to accept it. This makes ETH worthless and having no real value at all.
For all ethereum developers, ETH is extra work, since all applications are based on ERC20 tokens and ETH is not a token itself, building an app “just” for ERC20 tokens is much easier to code, making ETH useless.
Mining ETH has become next to non-profitable for miners. Mining equipment, software and the setup takes far more cost than the value of ETH.
With new market innovation, projects like EOS are far more better than Ethereum, making ETH valueless.
The above was the opinion of the writer and you are required to do your own market study before investing in an cryptocurrency.