The ICO now is become too risky because I see all project is not giving a good result in this year and many of them delay the project. I think many investor worries about this situation because they cannot make a profit in this year and they still asked the team when they can refund or start to sell the token so they can take their money back.
ICO Investments and ICO themselves were good last year as this concept was new and many good projects started from the ICO stage. But then evil tapped in and many people tried to collect money with scam projects and ICO. This is the main reason these days investments in ICO are very risky.