It is true that most investors are interested in ICO because of the large profits that it brings, but with this bear market, it is difficult to attract them, as well as their willingness to invest in ICO.
Because bear market is great time to buy, if hold about few years will give so many profits than we buy it when bull market. So i think not because bear market to prevent them invest in crypto but because of the regulation. So many projects prohibit US citizens
3.75% is a good thing for the USA residents as these projects are banned in America. However, not so many people invest in ICO and IEO projects also. Most people know that many of them turned out to be a scam, and no one wants to be deceived again. However, the same statistics say that over 12% of the US citizens own cryptocurrencies, and this is cool.