It seems that way, this last issue was just too much for the market really, fork after fork, attack after attack. Yes it all remains the same and they work out every one of them but it's getting tired with no real good news in the horizon. Bitcoin is also dumping, if it was close to $800 the price of Ether would be around those levels already if not below.
The chart has looked bearish to me for a while. The rise up to Devcon lulled people into a false sense of security - the perfect precondition for fear. I'm expecting a big move with
BTC50,000+ volume on Polo, but for now I wait patiently.
I don't think there's a fundamental reason on the drop per se, at least long term, it's just a very bearish trend with no actual good news (and plenty of "bad"). Everybody wants it "cheap", we all know there are a lot of smart devs working on it, perhaps the best in the world and there is a lot of interest from huge companies, not just nods but they are actually working together (JP Morgan, Microsoft, Reuters). Not to mention the endless tokens and startups that compose Eth ecosystem.
But short term, unless there are some very good news to reverse it. I agree this is all for the better if Ethereum wants to succeed eventually. Forks are just like system updates for them and they are trying to ironing all bugs out before moving forward. Fundamentally different from Bitcoin but both blockchains could just be the future and not opposites, they definitely complement each other. We can't rely on only one.
