1. Revaluation of the current project cost in the ICO phase
2. Inflationary factor, a large percentage of tokens not participating in the distribution
3. The project and the Team do not have significant incentives for development, money is received you can relax.
People invest in ico because they think they will buy cheap coin and the ico team will work on the project team to make the coin valuable.
But when an ICO is made to only collect money from the people and forget about the project afterwards people will lose interest in the ico. Unfortunately this is being done by more than 90% of the ico and that's the biggest reason of ico market being down.