I have been wondering how directly and indirectly fluctuations in the price of bitcoin affects ICOs performance at that time. Anyone who knows this can assist in the explanation.
Some ICOs accept bitcoin or ethereum as payment. So, when bitcoin price is not good, people don't want to spend their bitcoin because they will get lesser coins. So, it really affects ICO. That is why most ICOs fail at this kind of market situatuin.
Yes the price of bitcoin and ether definitely has a massive impact on the ICO market, people are far more likely to participate in higher risk ICOs when their portfolio is doing well. I think we will see a run in alts which will bring the ICO market back to life