this is my own opinion but it may help others.
I have found that all the ICOs i have invested in have launched at almost the ICO price but in a few days dipped below the ICO prices by half or 5X for some.
With this i have discovered its better not to invest in an ICO but wait for the launch and the DIP to buy it at the corrected prices made by market forces.
Its just too hard to tell the real or recommended value of a token in an ICO these days.
Hope this helps to the new investors thinking of ICOs
Its because you invested in lousy projects, dont get scammed by the WP of ICO, do your research before investing. Too many $hit projects out there they dont need millions to launch their projects but they still priced their tokens super high which will definitely fall below ICO price.
For me stay away from utility tokens, buy only on exchange if need to
Some ICO are even struggling to get their token listed on decent exchange, how can the price grow if like that