I think its because mot of these companies behind the ICOs are hiding the exact figures of the total coin supply or something like that. I was once involved in an ICO that had a 90-day lockup period both for the investors and the bounty hunters. At the end of the period, the price was reduced to bit 95% of the initial value. And all the team keeps saying is that the market conditions are the reason. How on earth would the market conditions affect the price so much when the tokens have not even been distributed???