people have no faith in ICO becase there are more scam in the past, and it's hard to tell clearly ,so before investing in Ico, you need to study the company, read the white paper and make sure its business is legal.
one of the scam bounty campaign that I joined early this year was Denaro.io.
scammers bagged investors' investments worth of almost $10 million and has reported to authorities but until today there's still no news or updated regarding the scammers and their whereabouts.
THis is the main reason why there are now less ICO investors except for those ICOs that have best dev and marketing teams.