Well, not always the ICO's, but yes they are one of the best ways to earn money online.
In the bear market, almost all coins are heading down no matter what stage they are on. Bears are for investing more if you ask me. If you are believing the project and you know inside that the project will accomplish good things, you should buy more and more. Because in the bear market, it is very risky either to make ICO's or get into one. However, buying more tokens or coins of the projects that you believe can return you with some good profit.