Yes, now the situation in the cryptocurrency market is not very simple. Many of the projects the ICO are unable to collect even the softcup, and even if harvested, the token once goes to the stock exchange immediately drops in price. I believe that this whole situation is temporary and the market will soon grow, and with it the altcoins.
ICO it is a little bit another case then the whole crypto market, and have other rules. I think people just stop believing in ICO market because in this year 95% of all projects cannot bro=ing profit to their investors.