In my own opinion, the more altcoins and erc20 tokens being released everyday in market, the more it affects Bitcoin or even Ethereum's price to go down.Since the volume of investors should be instead investing on btc and eth are now divided to altcoins.What do you think?
Don't forget too that invest in ICO need ETH too, it means investor will buy ETH first and then get their tokens, it is right if they profit they will sell their ETH, but i don't see it really affects on ETH price.