Most coins have lost 50 to 80% of their value, many tokens that were financed with expensive ether may now have their funding reduced due to their holdings. Do you think many of the ICOs have sold their ether and bitcoin during the last months? What other factors are making the market go steadily down?
One big factor for market to decline is the continuous creation of shitcoins. It affects the ICO that has a real project and dedicated team. If ICO scam will not be contained. The market may continue to plunge but the real token with a solid project will survive.