The hardest time to invest is in a bear market. You end up purchasing little amount of tokens for more ETH or BTC. But it's also a good time for projects to collect good sums of money during their crowdfunding, as ETH or BTC goes up, so does the value of the funds raised.
The question now is, will you invest in ICOs, or stick with investing in market dips (buy low, hodl and wait to go up and sell), or simply trade in bear markets?
Investing in ICOs during bear market is more risky compared investing on tokens that are already listed and on downtrend beacuse at this case, those that are already listed will give you an assumption whether it will have an increase or not. Unlike on ICO investment wherein it will be a pure guess becausre as we can see at this moment, most of the ICO tokens are having below ICO price.