Yes, I agree with the above statement. After update of google penguin so many webistes have to face a great downfall in ranking. But it can be recovered if we remove bad links from our website and start building relavant links.
You need to avoid over-optimizing your anchor text, use social media, make sure your on page structure is well done and that your content is unique and valuable. One major thing after Penguin is to analyze your backlinks regularly and remove any bad link that shows up.
Idetify bad links and request link removal to webmasters is not as easy as it sounds, if you decide to do this on your own you need to really try hard and not give up at the first attempt. Don't use the disavow tool without previosuly attempting to remove as many bad links as you can. You can also have someone do all this work for you. Contact me if you need any help!