The altcoin market never end as reds come here and go. We don't have to afraid from reds and buy this in these reds because these opportunities never come every day.
I have not lost much in this bloodbath because i just enter in this market 3 months back and buying the altcoins in very low price in this down fall and hope that i will get distant in next run up in this market.
I am fully agree with your thinking that howl crypto market follow bitcoin price. Whenever bitcoin drops all altcoins also follow the bitcoin and start dropping and vise versa.
It depends on the working team who is behind any ICO, if they are genuine and they not meet their target then they give full refund to their investors.
It is the best time to buy altcoins now as market is in bears hand from approx one month and it can come out from this bear phase anytime and start roaring.