Maybe the main cause of what happen in ICO investment is the security issue. With all the scam ICO that doesn't seem to be stopping making many investors hesitate to make an investment because they got worried if they got scammed.
Yes, mainly the security issue which is why many investors are now migrating to IEO and STO projects, especially that of IEO from Binance. I do really hope that ICO survives because of we bounty hunters but there is nothing we can do if it doesnt because of these scammers that will continue to use ICO to defraud investors.
Now that we have exchanges who are directly conducting these projects after properly verifying the source of the project and also the credibility of the project, many of us investors will strictly see it as the only option to a genuine investment in the mean time because I cannot still vouch for the future of IEO yet as regards scammers, time will let us know.