BTC bought and BTC sold. End result for BTC price is zero!
The moral of today's story.
Well, poloniex ETH/BTC is the main market. So i assume most of this ICO ETH would go through bitcoin part... So i got scared...
Why scared? To dump Bitcoin for FIAT they first need to buy Bitcoin. Net result is almost (arbitrage with other trading pairs) zero.
Also, if I had XXX millions in ETH I would probably not cash them all to FIAT inmediately.... But I wouldn't leave it all bet into one single coin... So most probably there will be some part they will just convert to BTC and hold. Net result positive.