The hardest time to invest is in a bear market. You end up purchasing little amount of tokens for more ETH or BTC. But it's also a good time for projects to collect good sums of money during their crowdfunding, as ETH or BTC goes up, so does the value of the funds raised.
The question now is, will you invest in ICOs, or stick with investing in market dips (buy low, hodl and wait to go up and sell), or simply trade in bear markets?
Investing into a project during ico time and when the bearish market is prevailing is not a bad thing to me if the project is a good one. I could remember that the cryptocurrencies markets and icos market perform badly in 2018 and that do not mean it has correlation with each other. What really affected icos market since end of last year till now are scams and unprepared projects. Many investors has lose significant amounts of money in this market and that is why many people start avoiding investing during icos and focussing trading in coins that has been listed in the market.