Defend on the coin of ICO you want to invest, there many ICO's that the price is higher but not listed in market coz ico is sltill going on, good if you can buy their coin b4 Ico end especialy in the 1st round the price is mostly cheaper than the nxt round, and if this coin is listed into the market when ico end you can sell coin, sometimes after 2 or 3 months if you hold your coin the price increase...
I agree with you that it will depend on ICO they invest. There is a new ICO that launced 5 months ago and my friend have a strong belief that it will make it as one of the top 10 ICO in the market. Hoping for the best as it will depend on how it is implemented and how it will develop or if it can survive when it comes the price down.