There is many ico in the market now
The big problem is This !
in the first of 2017 year there was only 100-200 cryptos
but now they are 1500 coins and they almost do one thing
I think this is the big problem :Supply increase
I think all currencies go down until stability may be for bitcoin below than 1k $
I don't think increasing number of ICO or crypto as a problem i feel those people who invest in those ICO's without doing a research are the problem because they shift their fund to ICO from bitcoin and thus creating less demand for bitcoin but there are some really good ICO like my signature ICO PolicyPal Network which worth the investment.
Releasing a new ICO or having more cryptocurrency doesn't affect the price of the market, it only reacts to forks and every transactions in the market. Crashing or dip in Bitcoin is normal we've been there before so no need to worry this is how the fluctuation and price correction works. It is better if you buy more before it rises up again you will never gonna find a cheaper price like this after.