A lot of money from crypto world has been recently flowing towards hundreds of weak (but hyped) ICOs. This money exits the crypto market as soon as token sales ends (or rather during the sales). Many people are losing invested money and even more will lose them. Dumb capital is flowing to fraudsters and opportunity seekers, while leaving the prospective and established blockchains like EOS, CARDANO, NEO or STEEM. There's a big bubble being pumped in the ICO world and it's going to burst as soon as investors realize, these 'super' projects can't deliver on promises as they simply can't compete with superiority of 3rd generation blockchains. The bubble must burst to clear the way for future crypto gains.
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Yeah, they buy into false promises, then they will lose, fooled themselves by trusting blindly in the hopes of making quick money.
And the worse, the poor and hyped ICOs put a bad light over all cryptos.