I'm saying this because it is real. Just imagine, Ethereum has built many tokens inside the blockchain and many people launched ICOs which most of them are totally weird and fake, but some of them are not. People usually like to trade their ethereum and turn it into a token where it can be determined as a "future asset" and it cannot be sold until they had listed on an exchange. The companies who launched the ICOs are usually selling the ethereum which gotten from their ICO in droves, in which it can make a dump on the Ethereum market.
If you are typically saying that blockchain companies that are selling their eth that they got from the ico is the reason to all of this then i can't agree with you.
Because we all know that ico's are not just accepting eth as payment, if they are going to lock in the amount that they raise, they will sell all of the crypto that they got from the ico right ? so it is not eth's fault, it simply the market cycle, crashes always occurs after the bull run. Its that simple