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?
Typically the bounty will be 1% or 2% of the total of the tokens issued. Even if all the bounty hunters decided to sell all their tokens it would be unlikely to have a big impact on the price. A more likely cause is large numbers of tokens sold at a discount during the Private Sale or Presale. It is not unusual to see these tokens being sold at half the price or less of the price offered in the ICO. Bounty Hunters get blamed but it is almost always the PreSale whales behind the selling.