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.
That's true, but the demand of ICO did not increase significantly when bitcoin has not pumped, so who knows if bitcoin will pumped then we might see ETH rise as well, but of course it should not be due to ICO as I also believe that there's a little chance ICO will relive its popularity, the new game now is not for ICO but for IEO and will benefit the exchanges if the bullish market will come. When it happens, I think that people will invest more as IEO is a better platform than ICO as it's safer and more secured and I also think ETH at the current price is undervalued so I expect that it will rise at least a double of its current price during that time.
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?
It doesn't need to reach an ATH soon, but in the long run it will and it will all depend on the performance of bitcoin.
So, hope that bitcoin will reach its ATH and major altcoins will follow.