Many ICOs have their token sold at a fixed price vs. the ETH. For example: 1 ETH = 1000 Tokens.
So does it really matter if the prices of ETH/BTC is dropping?
If anything, then buying now you get more Tokens for the $, right?
Yes indeed like that, we will get a cheaper price. But unfortunately, when the token is released in the situation when Bitcoin and Ethereum are cheap, the transaction volume is also small and it will make the token price not grow like when Ethereum is experiencing an increase.