Its a good idea to invest in ICO in bear market when ETH is cheap. It will give more multiplication than in bull market when everything is high price. But always, you need to figure out the good project from bad.
ETH is currently very cheap. It's about 310$, so if there's a good ICO any time I'll join it right away. Opportunity to earn huge profits when the future market will increase. I will earn more ETH from investing in it at this time
Buying ETH now at a cheap price is definitely the right call. You will be able to invest in other ICOs in a little while, this makes the bear worth it. However, when things settle down a bit, things will get difficult again.