Although the whole market is red, I'm very much afraid of holding ETH now. In my opinion, ETH was fluctuated to its ATH when people were more interested investing in ICO. Nowadays ICO is almost dead. That is why it has less demand. I don't think it will get another ATH soon.
What's your thoughts on it?
First it is true that ICO is almost dead if not totally dead but a careful understanding of the Ethereum platform shows that, Ethereum do not only found its use case in ICO only there is more to that, to understand this better, take a look at what happened during the DeFi early days and is even happening till now though, that is, a lot of Defi projects were based on Ethereum blockchain, that is to show that, Ethereum blockchain offers something unique which most upcoming projects seeks for.
Furthermore, it is quite true that Ethereum might find it hard getting to its ATH, at least Bitcoin hit a new Mark, but yet Ethereum kept growing alongside Bitcoin and look at the price today. Therefore in my own opinion, in whichever project you want to invest in, make sure it offers a unique idea that will keep attracting users to it, this is what makes Ethereum the best altcoin till date.