Right now it is the lack of trust. The market is falling and people are making huge loses and at the same time the market is overwhelmed with scam projects. It is not the best image of an ICO market and I hope it would change.
it will change only when regulation by the government of all countries will be on the side of new and honest projects. it will not be very soon
"Not soon" is putting it mildly. Although the governments are trying to make laws in a hurry, to adjust, but its not so good. And of course they will introduce more taxes and stuff, and this will also have a negative impact on cryptocurrency.