If a lot of companies who performed an ICO would actually cash out ether prices would tank pretty fast. There are a couple of paragraphs in the very recommendab

If a lot of companies who performed an ICO would actually cash out ether prices would tank pretty fast. There are a couple of paragraphs in the very recommendable Crypto Trader Digest (written by the people of BitMEX) which goes into a little more detail. Liquidity is still very low on all these exchanges so it doesn't take much for panic selling to set in.