hi I am facing a problem regarding traffic, My blog has lost its 75% organic traffic (increasing day by day) coming from Google. it all happened on 5th august 2013, before that i was getting more than 2700 pageviews daily. i read somewhere that may be it is because of Google panda or penguin update or i was hit by Google traffic penalty. I also got webmaster message
You're not alone, my traffic also dropped and I'm using Blogger aswell. Weird coinsidence how it happened to both of us on 5th August, it must be some Google update.
This sounds like a content penalty. Read this for more info. http://googlewebmastercentral.blogspot.com.es/2013/08/in-depth-articles-in-search-results.html
Yeah please try to avoid Blog network - as it may give harsh results such time. You Should do proper research - creating informative posts and building links in a natural way. Even a 1 bad link can waste your whole process.
Wait for some days, and see whether your traffic is increasing or not. If not then better leave that blog and start a new one.