This is what I thought as well about a month ago. However, reality painted a different picture. There's no hedging this market. If BTC crashes, ETH crashes as well, same for the rest of the altcoins. People rather convert their BTC to USD than ETH.
If ETH gets back to a nice round number, 200, 250 or 300 USD, do you think ICOs are going to sell their ETH at that point?
Will ETH rise as august 1st approaches if people convert their BTC to ETH?
Speaking of which, I read this article about what could happen in case of BTC hard fork, it does not paint a pretty picture:
That's why I sold every BTC and ETH I had. I'm saving all of my money for august the 1st.