Last year ethereum also experienced a decline as it is now, but to my knowledge does the price not fall as badly as this? how could this happen? what is behind it?
Nobody knows the exact bottom of ethereum and that is true for all of financial markets. For me the price of ethereum nowadays can sit there for a while doing sideways. When a very good news about blockchain has unleash then we can be able to see price action finally making uptrend move in my own opinion.
I'm sure the Ethereum will recover within the time. The majority of Ethereum users remained confident in the brilliant future of this cryptocurrency. And it always seemed to me that Ethereum is the main alternative to bitcoin.