I have witnessed almost 5 consecutive ICOs that is a hyped ICOs and also sponsored a bounty campaign with big rewards goes way below ICO price. The ICO have a lot of potentials to have a high price. But when the time comes when the ICO concluded and when the time comes when it hit on the first exchange the price really dips hard. Is bounty hunters one of the cause of the price dip?
They are one of the cause but not primarily the cause, those who get a lot of bonus from presale and Ico are the one likely dumping the most since they are the one selling on profit there are ico with 50% bonus from their presale and if they sell their presale bonus that's pure profit, they only need to keep their shares for future profit.