as we know that in 2017 many ICO were successful (at least reached softcap) and of course the market cap was also very high at the time, so it proves that many people are interested to investing in cryptocurrency, but now where do these investors go? because now the market cap is down and many ICO or IEO are failing (not reaching softcap), are investors no longer interested to investing in cryptocurrency? if yes, where are they investing now? or is there a more profitable investment than investing in cryptocurrency for now?
Those investors are probably still here, learning their lesson to not invest in another ICO and buy something solid like Bitcoin instead 
. I think it's a good thing that people are moving away from scammy ICOs toward cryptocurrency with real use case (i.e. Bitcoin and major altcoins). Most ICOs are scam from the beginning, once the money was raised the developer would gone AWOL lol.