In my opinion I am beginning to believe that all the funds that were suppose to get into bitcoins for it get to a higher price are diverted to purchase ICOs tokens and this might be the cause of bitcoin fall. If I have bitcoins, and I spot an ICO that has a potential to be the next great coin, I will probably sell my bitcoins for it, and this I think is part of the cause of bitcoin fall. What do you think ?
You would be increasing the price in most circumstances, unless there are people who are immediately taking their BTC and selling it for ETH and those people in turn choose to sell the BTC for fiat immediately, the only way there would be a decrease in Bitcoin is if no-one wanted it at all. It's not the fault of the ICO, maybe it's the fault of Bitcoin not being as big as it used to be.