Except now we have a lot of people who (foolishly, in my opinion) bought in when it was hovering around $1000 and now they are sat on 10% of the value they put in. That's a huge amount of negativity and it will stop your average joe buying in, there is no external money buy pressure (like there was this time last year). It's a lot easier for it to collapse than it is to go parabolic again, particularly bearing in mind that this market is almost entirely speculation. I would not be surprised at all if we saw ETH down at $60 before this is over. That is an opportunity to make a lot of money in the next few years, anyone expecting a repeat of late last year any time soon is delusional. We may see a new all time high, but if we do, I reckon it will be in years. The days of making quick fortunes are over for now, just accumulate while it's cheap and wait. The best thing about this will be all the crap coins disappearing, so pick your projects carefully and keep a decent portion of your portfolio in the bigger players.