If I were in your shoes, I would hesitate to invest in ICO now. Most, not all failed and get dump when token was released in an exchange especially if the ICO has bonus and bounty campaigns. Imagine would care to hold the tokens you got for free? Some people think that way and you can't stop them to dump their tokens when it hits exchange. I've seen a lot of them and it seems like a trend now since crypto market is still recovering. But that didn't mean I would not recommend participating in ICOs since it has higher ROI if it succeed.

What I do recommend is to participate some portion of it to ICOs that you believe in. You must do your own diligence on finding the ICOs that you will invest in and not just by the recommendation of some YouTubers, bloggers and even your friends! Remember that some ICOs do not  have a proven project. Just the idea itself and they will use the money from investors in presale and ICO to implement their ideas.

My best recommendation is to invest the majority of your money in existing tokens/coins that already proven their value in the crypto world. Comparing the price of these coins today from January, most of them are up to 50% OFF or even MORE!!! Imagine buying coins with that huge sale! This is just my opinion and hope you got idea from it. Just keep on educating yourself about crypto to minimize your risk in this volatile market.