I have been wondering how directly and indirectly fluctuations in the price of bitcoin affects ICOs performance at that time. Anyone who knows this can assist in the explanation.
Definitely yes, it's because of the price of bitcoin is the basis in converting into fiat and the pairing with the altcoins. If the price of bitcoin will dumps then the expected money they should be collected will also fall below the original value. This is now the risk in launching the ICO as the price is too volatile and they should consider that at the early stage.