I never understood why cryptotraders and exchanges support ICO's, my reasoning is this: An ICO gets funded, then they do what, they SELL the BTC they raised for fiat and push the price dive on BTC, thus taking all those BTC out of the trade environment, anyone thinking that an ICO would reinvest into the exchange is naive. This hurts everyone, even the exchanges. You might say "Well the exchanges get fee's on ico" well that is true, but they are losing all future potential fee's on those coins, if they had continued trade on the market.
So in Short - ICO's are killing Bitcoin and CryptoMarkets.
In the first place, according to what I understand about it, Bitcoin is not an altcoins anyway. Bitcoin is the reference of altcoins in short altcoins was a clone of bitcoin. That's every time Bitcoin rise up most altcoins dumped or go down, then few of them only remain still or some get pumped while bitcoin increase. So. its not true that ico's are not killing bitcoin.