The market is quite volatile when it comes to investments you can not really rely on cycles. One decision from a ruling body and the investment market will spiral into chaos, so its better to invest in this business, as well! Don't put all the eggs in one busket!
well no can invest in one ico although they need to understand the circumstances of the project which is going to succeed and have a potential before to invest.
Any investment has its own risk so you must do your own due diligence on any project that you want to invest. Aside from that you must always check the credibility of team members and legitimacy of the project to avoid getting scam.