I wont think we can hardly make any profits. As you said there is a increase of the price every 4 days. The people who bought earlier will dump wheres the people who bought later will be in loss. Also the Ico is offering 10 for 1 split making the condition more worse.
No matter how many rewards we may get from masternode but in the end we will be in loss so better to avoid these Ico and its masternode.