I think the spike is due to the expected hardfork of ethereum, the Constantinople. I hope this will signal the start of recovery of the price of ethereum and stably hold the top spot among altcoins. I'm holding many tokens and coins that are pair with eth, so its rise in price will consequently raise the price of my holdings.
such as you the entire forum.I think the ethereum team foresaw the development of such events when after the price increase everyone will start selling their assets after a long bad market.I think the price will rise gradually.