Fake projects are the main reason why investors are not investing more compared to previous years. It's so difficult for bounty hunters to dictate their trickish plan of use and dumping them after attracting investors. Inasmuch I know, the good project are still there but the volatility of the market is affecting them all to skyrocket
It's really hard to predict now those legit projects because most of the scammed projects today have seemed to be very legit in the beginning but suddenly turned into a scam in the end. Investors and bounty hunters are very much affected because they are left with nothing in the end. But i believe that as this scammed projects continue, invetors and bounty hunters are becoming more wiser today to chose those good projects from those bad ones.