I know that the answer depends on the project, how much you believe in it, and how much you have to spend.
But I am looking for data about an average ICO investor... are people investing tiny amount in as many projects? or more sizeable amounts?
For example, lets take a $40m ICO, what do you think the average investor puts? $10? $100? $1000? 5,000? more?
Edit: many of the answers were, whether one should invest in an ICO at all. My question was intended to understand more specifically what's the average person place nowadays in an ICO, IF they participate. I am interested in data, about a typical average ICO investment, not whether anyone should or shouldn't invest in an ICO.
I more often invest in ICO more than a small amount, I last invested around $ 300 and at that time I saw the market movements of BTC and ETH were still quite stable and there was no price volatility so that other altcoin pairs could still tolerate