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?
I believe the major issue is that people invest only in where there's a hope for higher returns. The 2017 bull run was built on this premise, that explains why several persons were flocking to the cryptocurrency space to build their own wealth. I remember bitcoin was said to be the most practising currency in the world with over 5000% increase in a period of 1 year.