The market conditions are weak, but if the project is good it's better to start now because it will take 1-2 years to polish it (including ICO, developing, testing, and working beta launch). So if you want to take your market share then don't wait, start it as soon as possible.
It is difficult to find such quality projects, and despite quality project, waiting for it to recover and develop in a downtrend market like this is a difficult thing.