Interesting question and never hits on my mind. We are now seeing huge sufferings from ICO last year and up until today since Bitcoin went down up to $3000. Every altcoins are following the bitcoin price movement so as the investors. I never observe ICOs when bitcoin was under $1000 but I could say that their era is now on the verge of death so I am pretty sure that this ICO scheme will be vanish if bitcoin falls below $1000. These ICO actually ruined the momentum of bitcoin.