I wouldn't recommend ICOs right now with everything dumping since these are the investments that will get you rekt the fastest. I wouldn't even recommend altcoins unless you really know what you're doing with stop losses etc, even with a few altcoins outperforming BTC at the moment.
I lost a fair amount of profit from ICO investing this year, but could of gone either way since I narrowly missed out on Quarkchain that was a 10x overnight

Bitcoin is risky enough at the moment, but if you do manage to get a good position you can always diversify into alts after that. If you don't already have a position in BTC I'd definitely recommend one, but not 100%, more like laddering positions in the likelihood the price drops further.
Either way I'd keep an eye on the SEC decision over the VanEck-SolidX Bitcoin ETF that's on September 21st if I'm not mistaken.